3rd Quarter 2003 New Business

St. James's Place Capital PLC
29 October 2003


                              NEW BUSINESS FIGURES
                              TO 30 SEPTEMBER 2003

St. James's Place Capital plc ('SJPC'), the wealth management group, today
announces its new business figures to 30 September 2003.

The text of the announcement is attached:

Enquiries:

Mike Wilson, Chief Executive                    Tel: [phone]

Nitya Bolam, Brunswick                          Tel: [phone]




                            ST. JAMES'S PLACE GROUP
                              NEW BUSINESS FIGURES
                              TO 30 SEPTEMBER 2003

                             Three months to       Three months to
                             30 September 2003     30 September 2002     Change


•Long Term Savings

  New Business*
          Investment         £17.6 million         £17.8 million           - 1%
          Pensions           £10.0 million         £11.9 million          - 16%
          Protection          £6.5 million          £5.0 million          + 30%

          Total              £34.1 million         £34.7 million           - 2%

* see note 1

•Wealth Management Services

  Gross fees generated        £5.6 million          £3.4 million          + 65%

•Funds under Management       £7.2 billion     +22% since the start of the year
                                                (+ 29% over past twelve months)


Mike Wilson, Chief Executive, commented:


'We are pleased that the Long Term Savings business for the third quarter was only
marginally below that of last year.This follows a difficult first six months, when 
new business was down 17% at the half year.

'Of note was the September new business which showed substantial growth compared
with September 2002. This trend has continued through October, reflecting a
marked improvement in investor confidence.

'Other highlights for the third quarter include a significant increase in
Protection Business and Funds under Management together with continued strong
growth in Wealth Management Services.'



                            ST. JAMES'S PLACE GROUP
                              NEW BUSINESS FIGURES
                              TO 30 SEPTEMBER 2003
                               LONG TERM SAVINGS


                               Unaudited                                     Unaudited
                               3 Months to                                   9 Months to
                            30 September 2003                             30 September 2003
                  2003          2002         Change                    2003          2002         Change
NEW PREMIUMS       £'m           £'m               %                    £'m           £'m              %

New Regular
Premiums
   Pensions*       5.4           6.3             (14%)                 18.6          21.8           (15%)
   Protection      6.5           5.0              30%                  17.4          14.7            18%

                  11.9          11.3               5%                  36.0          36.5            (1%)

New Single
Premiums
   Investment    131.1         131.8              (1%)                384.8         438.7           (12%)
   Pensions       48.0          56.7             (15%)                135.4         170.1           (20%)

                 179.1         188.5              (5%)                520.2         608.8           (15%)

Unit Trust Sales  42.6          44.9              (5%)                149.1         202.1           (26%)
(including PEPs
and ISAs)




                              Unaudited                                          Unaudited
                             3 Months to                                        9 Months to
                          30 September 2003                                  30 September 2003
                   2003         2002         Change                    2003         2002          Change

NEW BUSINESS       £'m          £'m               %                    £'m          £'m                %
(RP + 1/10th SP)

Investment         17.6         17.8              (1%)                 53.7         64.4           (17%)
Pensions           10.0         11.9             (16%)                 31.8         38.5           (17%)
Protection          6.5          5.0              30%                  17.4         14.7            18%

                   ------       ------         -------                -------       ------       -------
     Total         34.1         34.7              (2%)                 102.9        117.6          (12%)
                   ------       ------         -------                -------       ------       -------


* see note 2 to the New Business figures





                            ST. JAMES'S PLACE GROUP
                              NEW BUSINESS FIGURES
                              TO 30 SEPTEMBER 2003

                                     Notes

 1.  New Business from Long Term Savings is calculated following the convention
     in the life assurance industry, by adding together new regular premiums and
     one-tenth of single premiums. New Lump Sums are calculated by adding new
     single premiums to new unit trust sales.

 2.  Pensions regular premiums include £0.3 million of investment regular
     premiums for the nine months to 30 September 2003 (2002: £0.3 million).

 3.  Sales of Stakeholder pensions by St. James's Place Partnership have been
     included in the reported figures. These have been included under 'Pensions'
     and amount to £8.5 million regular premiums (2002: £7.1 million) and £16.8
     million single premiums (2002: £14.3 million) for the nine months to 30
     September 2003. This equates to £10.2 million New Business premiums (2002:
     £8.5 million).

 4.  Sales of other Protection business comprising Protection business through a
     panel of leading providers have been included in the reported figures.
     These have been included under 'Regular Premiums Protection' and amount to
     £6.6 million of new regular premiums (2002: £0.4 million) for the nine
     months to 30 September 2003. This equates to £6.6 million New Business
     premiums (2002: £0.4 million).

 5.  Gross fees generated from Wealth Management Services for the nine months
     to 30 September 2003 were £13.6 million (2002: £8.1 million).








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