Offer Documents Posted

St. James's Place Capital PLC
6 April 2000



NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO
CANADA, AUSTRALIA OR JAPAN.

                         RECOMMENDED PARTIAL OFFER FOR
                        -------------------------------
              ST. JAMES'S PLACE CAPITAL PLC BY HALIFAX GROUP PLC
             ----------------------------------------------------
                               DOCUMENTS POSTED
                               -----------------

The documents in relation to the recommended Partial Offer made by Lazard
Brothers & Co., Limited on behalf of Halifax Group for SJPC are being posted
today to SJPC Shareholders.

Acceptances should be received by 3.00 p.m. on 27 April, 2000 which is the
First Closing Date and the Record Date for the Partial Offer.

An EGM of SJPC is to be held on 26 April, 2000 to approve various proposals
relating to the Partial Offer.

Enquiries:
----------

Halifax Group plc
-----------------

Charles Wycks (for analyst queries)               Tel:  [phone]
Shane O'Riordain (for press queries)              Tel:  [phone]

Lazard                                            Tel:  [phone]
------

Marcus Agius, Vice Chairman
Christopher Hill, Director

St. James's Place Capital plc                     Tel:  [phone]
-----------------------------

Hugh Gladman, Legal and Compliance Director
Martin Moule, Finance Director

Cazenove & Co.                                    Tel:  [phone]
--------------

David Mayhew
Tim Wise

Brunswick Group Limited (for St. James's Place Capital plc enquiries only)
-----------------------

Alison Hogan, Partner                             Tel:  [phone]


Lazard Brothers & Co., Limited, which is regulated in the UK by The Securities
and Futures Authority Limited, is acting for Halifax and no one else in
connection with the Partial Offer and will not be responsible to anyone other
than Halifax for providing the protections afforded to customers of Lazard
Brothers & Co., Limited nor for providing advice in relation to the Partial
Offer.

Cazenove & Co., which is regulated by The Securities and Futures Authority
Limited is acting for SJPC and no one else in connection with the Partial
Offer and will not be responsible to anyone other than SJPC for providing the
protections afforded to customers of Cazenove & Co. nor for providing advice
in relation to the Partial Offer.

Words and expressions defined in the Offer document shall, unless the context
otherwise requires, have the same meanings when used in this announcement.