IPO Pricing & Admission

Polar Capital Holdings PLC
06 February 2007

THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE
UNITED STATES, CANADA, THE REPUBLIC OF SOUTH AFRICA, AUSTRALIA OR JAPAN

6 February 2007


                         Polar Capital Holdings plc

     Polar Capital announces Placing Price of 190 pence per Ordinary Share

Polar Capital Holdings plc ('Polar Capital' or the 'Company'), the specialist
asset management group, is pleased to announce the successful pricing of its
initial public offering of its Ordinary Shares (the 'IPO').

•         The offer price has been set at 190p per Ordinary Share (the 'Placing
          Price')

•         Based on the Placing Price, the market capitalisation of Polar Capital
          on the commencement of conditional dealings will be approximately 
          £120.5 million

•         The Placing consists of 3.2 million new Ordinary Shares (the 'Placing
          Shares') and 6.3 million Existing Ordinary Shares, in total 
          representing 15.1% of the 63.4 million Ordinary Shares in issue

•         It is expected that admission of the Existing Ordinary Shares and the
          Placing Shares to trading on AIM ('Admission') will become effective, 
          and that unconditional dealings in the Ordinary Shares on the London 
          Stock Exchange will commence, at 8.00am today

•         The ticker symbol is POLR

Bridgewell Limited ('Bridgewell') is acting as nominated adviser and broker to
Polar Capital.

Commenting on the IPO, Mark Kary, Chief Executive Officer of Polar Capital,
said:

'The IPO has received an excellent response from important institutional
investors.  We are delighted with the result and look forward to continuing to
deliver on our objective of providing strong, sustainable earnings and dividend
growth for all our shareholders.  The outcome is a tribute to the hard work and
success of all Polar Capital's staff.'

For further information please contact:

Financial Dynamics
Ed Gascoigne-Pees                                          [phone]
Paul Marriott                                              [phone]

Bridgewell
Ben Money-Coutts                                           [phone]
Stephen Cheung



About Polar Capital

Polar Capital was founded in December 2000 by Brian Ashford-Russell and Tim
Woolley who were previously responsible for the management of Henderson Global
Investors' technology funds.  Caledonia Investments plc became a founding
shareholder and Polar Capital's corporate structure was established and received
regulatory approval in January 2001. Mark Kary joined as CEO from Morgan Stanley
in April 2005 to lead the Company's next stage of development and in October
2006 the Company entered into a seeding agreement with a subsidiary of XL
Capital Ltd (NYSE:XL) which has committed to provide up to $175m in investment
seed capital to support the launch of certain new funds.

Today Polar Capital has a staff of 54 of whom 29 are investment professionals
managing 15 funds, one managed account and two advisory relationships. These
funds, which are aimed at institutional and professional investors, have
combined assets under management at 31 December 2006 of $3.3bn.  Polar Capital's
first business unit focused on the technology sector, and subsequent recruitment
resulted in the establishment of the Japan and UK teams (2001), Europe (2003),
Global Emerging Markets (2004), Utilities (2005), and Macro and Global
Opportunities (2006).

This announcement, which has been issued by the Company and is the sole
responsibility of the Company, has been approved only for the purposes of
Section 21 of the Financial Services and Markets Act 2000 of the United Kingdom
by Bridgewell Limited, Old Change House, 128 Queen Victoria Street, London EC4V
4BJ, a firm which is authorised and regulated in the United Kingdom by the
Financial Services Authority.

This announcement does not constitute or form part of any offer or invitation to
sell, or any solicitation of any offer to purchase, any securities and any
purchase of securities of the Company pursuant to any share placing undertaken
by the Company in conjunction with Admission ('Placing') should only be made on
the basis of the information contained in the Admission Document and any
supplement or amendment thereto. The Admission Document contains detailed
information about the Company and its management, as well as financial
statements and other financial data.

Neither this announcement nor any copy of it may be taken or transmitted into
the United States, Canada, the Republic of South Africa, Australia or Japan or
to a resident, national or citizen of the United States, Canada, the Republic of
South Africa, Australia or Japan. Any Placing and the distribution of this
announcement and other information in connection with Admission and any Placing
in certain jurisdictions may be restricted by law and persons into whose
possession any announcement or other information referred to herein comes should
inform themselves about and observe any such restriction. Any failure to comply
with these restrictions may constitute a violation of the securities laws of any
such jurisdiction.

The Ordinary Shares have not been and will not be registered under the
applicable securities laws of the United States, Canada, the Republic of South
Africa, Australia or Japan and may not be offered or sold within the United
States, Canada, the Republic of South Africa, Australia or Japan or to, or for
the account or benefit of citizens or residents of the United States, Canada,
the Republic of South Africa, Australia or Japan.

The Ordinary Shares may not be offered or sold in the United States absent
registration or an exemption from registration.

Information in this announcement or any of the documents relating to Admission
and the Placing cannot be relied upon as a guide to future performance. Past
performance is not necessarily a guide to future performance. The price and
value of securities may go down as well as up.  Persons needing advice should
contact a professional adviser who specialises in advising on the acquisition of
shares and other securities.

Bridgewell is advising Polar Capital in relation to Admission and no one else
and will not be responsible to anyone other than Polar Capital for providing the
protections afforded to the customers of Bridgewell nor for providing any advice
in relation to Admission or any other matter referred to herein.




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