Trust Management and Tax Businesses Acquired

Rathbone Brothers PLC
9 December 1999


              RATHBONES ACQUIRES TRUST MANAGEMENT
                      AND TAX BUSINESSES
                               
Rathbone  Brothers Plc ('Rathbones'), the investment management
group  with  over £4.5 billion under discretionary  management,
has  acquired the businesses of Keith Clayton and Ann Cochrane.
Both  have extensive experience in tax planning, tax compliance
and related accounting areas for individuals and trusts.

These  acquisitions  will  be  merged  into  Rathbone  Taxation
Services,  a significant part of the Trust Division within  the
Rathbone Group.

Commenting  on the acquisition, Roy Morris, Chief Executive  of
Rathbones  said,  'The  acquisition  of  these  businesses   is
consistent  with  our strategy of expanding Rathbones  both  by
organic growth and by earnings enhancing acquisitions.  I  have
known  Keith  personally for many years  and  look  forward  to
working with him in the future.'

Ian Taylor, Head of Rathbone Taxation Services, added 'This  is
an  excellent development to help grow this part of  the  Group
and further evidence of our commitment to provide an integrated
service  to  our client base.  We look forward to working  with
Keith  and  Ann in continuing the high quality of service  they
have given their clients and extend a warm welcome to them  and
their colleagues'.

The  consideration for the acquisition is based on the  profits
of  the  businesses for the accounting period to 30 April  1999
and  the  consideration totals £763,780, to be  paid  in  cash.
Based on the historic and anticipated profits of the businesses
being acquired, the acquisition will be earnings enhancing  for
the year ending 31 December 2000.

A  total of six staff will be joining Rathbones.  Keith Clayton
has  been a partner in the business of Robert Legge for several
years.   Keith  was previously a partner with,  amongst  others
Deloitte Haskins & Sells and Coopers & Lybrand.  He is  also  a
non-executive  director  of  Liverpool  Football   Club.    Ann
Cochrane has been self employed for the past five years and was
previously a manager with Deloitte Haskins & Sells and  Coopers
&  Lybrand.  Both have extensive experience in tax advice,  tax
compliance and trust accounting and administration.

For further information, please contact:

Ian Taylor
Head of Rathbone Taxation Services
Rathbone Unit Trust Management
Tel:[phone]

Tony Rose
Ana Nogales
Tavistock Communications
Tel: [phone]