Completion of Disposal

Teather & Greenwood Holdings PLC
21 March 2003

TEATHER & GREENWOOD HOLDINGS PLC
21 MARCH 2003
 
 
               TEATHER & GREENWOOD HOLDINGS PLC ('THE COMPANY')
COMPLETION OF DISPOSAL OF PART OF TEATHER & GREENWOOD INVESTMENT MANAGEMENT ('TGIM')

The Company is pleased to announce the completion today of the disposal of part
of the investment management business, including 13 individuals, announced on 15
January 2003 (the 'Disposal') to Prudential-Bache Limited, a subsidiary of
Prudential Financial, Inc. (USA).

The maximum total consideration for the Disposal, including a further element
payable following the twelve-month anniversary of completion dependent upon
revenues generated by client accounts being transferred in the Disposal, is
£3,650,000.

The cash consideration received today was £2,000,000.  Additional amounts of
£750,000 and £250,000 have been paid into escrow accounts and will be paid to
the Company after 21 July 2003, subject to the satisfaction of certain
conditions.

Details of the escrow and other further consideration were set out in the
announcement of 15 January 2003 and the circular to shareholders dated 4
February 2003.

TGIM will continue to provide individual and IFA clients a tax efficient
investment service (including an AIM and EIS portfolio service, film funds and
childcare EIS companies and, most recently, Property Investments For Pensions
plc), a VCT fund, open-ended investment companies, management for PEPs and ISAs,
on-line trading and client trading (including contracts for difference).

Enquiries:

Teather & Greenwood Holdings plc                020 7426 9000
Ken Ford/Nick Stagg

College Hill                                    020 7457 2020
Richard Pearson



END


                      This information is provided by RNS
            The company news service from the London Stock Exchange