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Berkeley Berry Birch (BBB)

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Friday 01 April, 2005

Berkeley Berry Birch

Regulatory Investigation

Berkeley Berry Birch PLC
01 April 2005


BERKELEY BERRY BIRCH PLC: REGULATORY INVESTIGATION


On 10 June 2004, Berkeley Berry Birch plc ('BBB') announced that the Financial
Services Authority ('FSA') had appointed investigators to undertake a formal
review of the liquidation of Berry Birch & Noble Financial Services Limited 
('BBNFS') and the immediately preceding purchase of the business of BBNFS by 
Berry Birch & Noble Financial Planning Limited in March 2004 (the 
'Acquisition').

On 30 March 2005, BBB received notice that the FSA had appointed investigators
into the alleged conduct of Michael Cleary, the sole director of BBNFS at the
time of the Acquisition and a director of BBB, in respect of his role in
relation to the Acquisition

The appointment of investigators does not mean that the FSA has determined that
rule breaches and/or other contraventions have occurred.  There is no definitive
timescale for this process and, as with the FSA's investigation into the
Acquisition itself, BBB and Mr Cleary remain committed to working closely with
the FSA. The Directors remain confident in the outcome of the investigation.

For further information please call:


Clifford Lockyer
Chairman and Chief Executive Officer
07967 680565



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