Re Agreement

St. James's Place PLC
17 October 2006




St. James's Place reinforces its focus on wealth management



St. James's Place (SJP) today announces it has entered into an agreement with
Home of Choice Group Ltd (HoC), the specialist mortgage network, whereby SJP has
agreed to offer 99 members of the SJP Partnership (the self employed financial
advisers of SJP), who specialise in providing mortgage-linked advice, the
opportunity to join HoC as appointed representatives.  HoC has agreed to provide
the 99 Partners with enhanced terms if they join.



This move enables SJP to reinforce its focus on wealth management as its core
business.  The 99 Partners generated only 1.2% of SJP Group APE in the six
months to 30 June 2006 and consequently this transaction will not materially
impact the Group's 2006 results.  SJP will continue to provide support and
servicing to Partners transacting mortgage business as part of the overall
wealth management proposition.



Mark Lund, Chief Executive of SJP commented: 'St. James's Place continues to be
the natural home for advisers concentrating on providing face to face
comprehensive wealth management advice.  We are pleased that we have been able
to offer the Partners who specialise in the mortgage market an excellent home
with HoC'.



Enquiries:



Anita Scott/Nitya Bolam           Brunswick        020 7404 5959



Notes to editors



1.       The size of the SJP Partnership as at 31 December 2005 was 1148 and as at 30 June 2006 was 1170.
         Re-based to exclude the 99 Partners those figures would have been 1049 and 1071 respectively.


2.       APE (Annual Premium Equivalent) is calculated in accordance with the life assurance industry
         convention by adding together new regular premiums and one-tenth of single premiums and unit trust
         sales (APE).


3.       SJP Group APE for the six months to 30 June 2006 was £160.9m.


4.       There are no gross assets attributable to the 99 Partners being offered the opportunity to transfer
         to HoC as part of this transaction.








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