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Friends ProvidentPLC (FP.)

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Monday 11 October, 2004

Friends ProvidentPLC

Issue of Equity

Friends Provident PLC
11 October 2004

Friends Provident PLC
11 October 2004

Friends Provident PLC (the 'Company') announces that, on completion of the
merger of the Company's subsidiary ISIS Asset Management plc (to be renamed F&C
Asset Management plc ('New F&C')) and F&C Group (Holdings) Limited, earlier
today,   it  issued 92,433,278 new ordinary shares of 10p each in the Company
(the 'New Ordinary Shares') to F&C Asset Management Holding B.V. ('FAMH'), a
wholly owned subsidiary of Eureko. The New Ordinary Shares have been issued as
part of the subscription proceeds for the issue to the Company of approximately
145 million new ordinary shares in New F&C.

The Company now has an interest in 246,839,137 ordinary shares in New F&C,
representing approximately 51.2% of the issued ordinary share capital of  New 

In accordance with Section 198 of the Companies Act 1985 (the 'Act'), the
Company has been notified today by FAMH that, following the issue of the New
Ordinary Shares, it now has an interest in 119,653,692 ordinary shares in the
Company, representing approximately 6.0% of the issued ordinary share capital of
the Company.

Under the terms of the Lock-up Agreement dated 1 July 2004, disclosed in the
Company's Listing Particulars published on 9 September 2004, FAMH has undertaken
to the Company that it will not, for a period of 12 months from today, directly
or indirectly, dispose of any of the New Ordinary Shares issued to it nor
dispose of any interest (within the meaning of Sections 198 to 210 of the Act)
in such New Ordinary Shares, subject to certain commonly provided exceptions or
as otherwise agreed with the Company.

Brian Sweetland
Director and Secretary
Friends Provident PLC
Tel. No. 01306 653143


The total issued ordinary share capital of the Company is now 1,988,895,668
ordinary shares, of which 46,063,717 ordinary shares are held in Treasury.

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