New Business Figures

St. James's Place Capital PLC
1 May 2002


                                                                      1 May 2002
          


            New Business Figures for the 3 months ended 31 March 2002


St. James's Place Capital plc ('SJPC'), the wealth management group, today
announces its new business figures for the 3 months ended 31 March 2002.

The text of the announcement is attached:


Enquiries:


Mike Wilson, Chief Executive                               Tel:   [phone]

Nitya Bolam, Brunswick                                     Tel:   [phone]




                              ST.  JAMES'S PLACE GROUP

                            FUNDS UNDER MANAGEMENT UP 18%

•           New premiums

               Regular Premiums                                    £11.8m

               Single Premiums                                    £211.1m

               Unit Trust Sales                                    £63.0m

•           Total new business and change since 2001:


               Investment                                          £21.0m              -26%
                                                                                      
               Pensions                                            £13.8m              -12%

               Protection                                           £4.4m               -4%

               Total                                               £39.2m              -19%


•           Total group funds and change over previous periods:


               Funds under management                        £6.7 billion             +8% over the quarter
                                                                                      +18% over the previous year

•           New sums assured were £1 billion up 23% over 2001.

•           Gross fees generated from additional wealth management services were
            £1.9 million.


Mike Wilson, Group Chief Executive, commented:

'While new business fell in the first quarter, reflecting difficult investment
markets, we were pleased with the substantial increase in funds under management
and the continuing success of our new wealth management services.

In the recent CAPS survey of Pooled Pension Funds, our five Managed Funds
occupied the top three places out of 85 funds for the quarter, while an
investment spread equally between the five funds would have occupied 2nd place
over the past twelve months.  Over all the periods covered in  the survey, one
of our funds was in either first or second place.

In the current investment climate, we are unlikely to see new business for the
second quarter rising above the comparative quarter of 2001, which was the
highest quarter of the year (up 27% over second quarter 2000 sales).   However,
we remain confident that the strength and experience of the Partnership will
enable us to continue to achieve our 15 to 20% growth targets over the longer
term.'



                            ST.  JAMES'S PLACE GROUP

                               1st QUARTER 2002

                             FIGURES FOR NEW BUSINESS 


                                           Unaudited
                                          3 Months to
                                         31 March 2002

                                    2002         2001 Change
                                                      2001/2002
                                     £'m          £'m


New Regular Premiums
  Investment                         0.1          0.4          (75%)
  Pensions                           7.3         11.4          (36%)
  Protection                         4.4          4.6           (4%)

                                    11.8         16.4          (28%)

New Single Premiums
  Investment                       146.1        195.8          (25%)
  Pensions                          65.0         41.8            56%

                                   211.1        237.6          (11%)

Unit Trust Sales                    63.0         83.7          (25%)
(including PEPs and ISAs)



Total New Business                  2002         2001         Change         Mix         Mix
                                                             2001/2002       2002        2001
(RP + 1/10th SP)                                                            
                                     £'m          £'m

Investment                          21.0         28.4          (26%)         54%         59%
Pensions                            13.8         15.6          (12%)         35%         32%
Protection                           4.4          4.6           (4%)         11%          9%


Total                               39.2         48.6          (19%)        100%        100%



                            ST.  JAMES'S PLACE GROUP

                                1st QUARTER 2002
                              FIGURES FOR NEW BUSINESS


Notes to Editors

1.   'Total New Business' is calculated following the convention in the
     life assurance industry, by adding together new regular premiums and one 
     tenth of single premiums and unit trust sales.

2.   Sales of Stakeholder pensions through Clerical Medical by St. James's Place 
     Partnership have been included in the reported figures.  These have been 
     included under 'pensions' and amount to £2.5 million regular premiums and  
     £7.4 million single premiums (equivalent to £3.2 million on a Total New 
     Business basis).

3.   Sales from Nascent, the Group's joint venture company in Italy, have been 
     excluded from the reported figures.  Nascent made investment sales during 
     the 3 months ended 31 March 2002 of £27.6 million, of which 16.6 million 
     related to products of other fund management firms.  At the end of the 
     period Nascent had 307 sales people (including Insurance advisers) under 
     contract. The comparable figure at the end of December was 258.


                      This information is provided by RNS
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