Response to FSA Statement

Evolution Group PLC
18 January 2007


                              Evolution Group Plc

 Response to Financial Services Authority Statement Regarding Williams de Broe

Evolution Group Plc ("Evolution"), the investment bank and retail fund
management group, notes the announcement made today by the Financial Services
Authority ("FSA") regarding W Deb MVL Plc, formerly known as Williams de Broe
Plc. The FSA announcement gives details of a fine imposed on W Deb MVL Plc of
£560,000.

When Evolution acquired Williams de Broe Plc it secured an indemnity against the
ongoing FSA investigation from its former parent company, ING Belgium. As a
result of this indemnity all costs of the investigation and the fine are being
met by the former parent.

The fine imposed by the FSA relates to an investigation into "a failure of
systems and controls at Williams de Broe Plc", prior to Evolution's acquisition
of Williams de Broe Plc in June 2006. The breaches occurred during the period
December 2001 to May 2005 and the fine relates solely to historic events and
problems that no longer effect the on-going business, acquired by Evolution.

Evolution has successfully migrated both the clients and staff of Williams de
Broe Plc's institutional and private client divisions into its existing
businesses. Subsequently, the legal entity that has been the subject of the fine
is in the final stages of being closed down before being placed into members
voluntary liquidation later in the year.

                                      Ends

For more information please contact:

Evolution Group Plc                                 Tel: [phone]
Alex Snow, Chief Executive Officer
Graeme Dell, Finance Director


Bell Pottinger Corporate and Financial              Tel: [phone]
Charles Cook
Sarah Hilyer


Notes to Editors:

Acquisition of Williams de Broe:

The acquisition of Williams de Broe was completed on 3 June 2006.

In July 2006, the institutional business was fully integrated into Evolution
Securities investment banking operation. The private client business of Williams
de Broe was merged with Christows, the private client stockbroking and asset
management business of Evolution Group. The integration was successfully
completed on 6 October 2006 with the successful transfer of client funds under
management onto Christows' operating platforms. At the same time Christows
Limited was re-named and the private client fund management business is now
branded Williams de Broe Limited.


About Evolution Group Plc:

Evolution Group Plc

Evolution Group is the holding company of Evolution Securities Limited, Williams
de Broe Limited and Evolution Securities China Limited. Founded in April 2001
and originally listed on the AIM, Evolution Group joined the Official List in
2003 and now has a market capitalisation of approximately £285 million.

Evolution Securities Limited aims to be the leading investment bank advising
small and mid-cap UK public companies. It has approximately 100 retained
corporate clients, to whom it provides equity research, institutional sales and
trading, market making and corporate finance advice. Evolution Securities
Limited is authorised and regulated by the Financial Services Authority. In
addition, it operates a US broker-dealer, Evolution Securities (US) Inc., which
is registered with the National Association of Securities Dealers and regulated
by the Securities Exchange Commission through which it brings US institutional
investors access to its UK based corporate clients.

Williams de Broe Limited is a leading private client fund manager, with offices
in Bath, Birmingham, Bournemouth, Exeter, Guildford and London. Williams de Broe
is authorised and regulated by the Financial Services Authority.

Evolution Securities China Limited ("ESCL") is a specialist investment banking
and securities firm dedicated to offering equity research, institutional sales
and sales trading to a broad base of professional portfolio investors, as well
as Equity Capital Markets and Corporate Finance services, primarily to Chinese
and Asian corporations.

ESCL is headquartered in London with additional offices in Shanghai and Hong
Kong, under the regulatory authority of the FSA and SFC.



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