Re Contract

Millfield Group PLC
14 December 2004



Date:                      14th December 2004
On behalf of:              Millfield Group plc ("Millfield" or "The Group")
Embargoed until:           0700hrs


Millfield Group Plc - Multi-Tie Panel


Not for release, publication or distribution in or into the United States, 
Canada, Japan or Australia.

MILLFIELD GROUP PLC APPOINTS MULTI-TIE PANEL

Millfield Group plc, the UK's largest national independent financial adviser,
today announces the appointment of six strategic partners for its multi-tie
panel. This is an important step in the development of a full service
proposition for its advisers, which will allow The Group to capitalise on the
different revenue streams created by the depolarisation of financial
intermediaries. The Group believes that over time a significant proportion of
its 1800 advisers will opt for Multi-Tie, and that the proposition will be
extremely attractive to other advisers in the industry.

These six partners will enter into a contractual agreement lasting five years. 
The launch of the multi-tie proposition is scheduled for Q1/Q2 2005.

The partners which have been appointed to the panel are:-

•         AXA
•         Friends Provident
•         Norwich Union
•         Prudential
•         Scottish Widows
•         Skandia

Millfield advisers will have the option of staying as IFAs, becoming Multi-Tie
advisers, or a dual authorisation* approach of multi-tie, with a whole of market
option for clients who have more complex needs.



Commenting on the appointment, Paul Tebbutt, Chief Executive at Millfield
commented:-


"Following our successful merger, we are focusing on delivering business
performance and value to our shareholders. The development of a highly
attractive multi-tie proposition is integral to achieving this goal. This will
create a full service proposition, allowing advisers within Millfield to choose
between fully independent advice, multi tie or a dual authorisation* approach.


"We believe that these appointed multi-tie partners offer the best available
choice of high quality products and service levels with enhanced remuneration.
They are all established and highly regarded financial product providers, and we
believe that this is an extremely attractive proposition for any financial
intermediary.


"Now Millfield has a competitive offering for all the different advisory
options, which will give us access to the different revenue streams in the
depolarised world. Coupled with our significant scale and a growing brand, we
now have the opportunity to create a highly successful and profitable business."


*Dual authorisation refers to circumstances where Millfield permits an adviser
to change the scope of advice from a limited number of providers to a selection
from the 'whole of market'.
Enquiries to:-

Paul Tebbutt, Chief Executive          Millfield Group Plc       07958 992 812

Denise Lyttle / Charles Ansdell        Polhill Communications    020 7655 0500
                                                                 07740 948676
                                                                 0773 422 1594

Notes to Editors:


•    Millfield Group plc is now the largest national independent 
     financial advisory group in the UK offering truly independent financial 
     advice to both businesses and individuals, primarily in the pensions, life 
     assurance, investment and mortgage sectors. Its principal operating 
     authorised companies are Millfield Partnership Limited and Inter-Alliance 
     Group Plc.


•    Millfield currently retains the services of 1,785 self-employed
     advisers operating from 46 locations across the United Kingdom and 21 
     accounting professionals in a further 13 locations.


•    Millfield concentrates on providing its services and advice to
     companies, affluent individuals and affinity groups. Millfield intends to
     maintain its focus on these target markets and develop its business to meet
     changes in the regulatory environment. Its advisers work closely with
     professionals such as lawyers and accountants to benefit their corporate and
     domestic clients.



•    Millfield's goal is to offer a friendly, professional advisory
     service built on long-term relationships with its clients, creating 
     security and wealth for them.





                      This information is provided by RNS
            The company news service from the London Stock Exchange