Regulatory Investigation

Berkeley Berry Birch PLC
10 December 2004


Berkeley Berry Birch plc:  Regulatory Investigation

Berkeley Berry Birch plc ('BBB') announces that the Financial Services Authority
('FSA') is undertaking an investigation into its network subsidiary Berkeley
Independent Advisers Limited ('BIA') concerning the suitability of two products.
The products concerned are whole of life and regular savings plan products sold
during the period between 1 December 2001 and 27 September 2004, and represent a
total of 3,150 sales.

The Board of BIA, under instruction from its parent, is complying with requests
for information from the FSA. Sales of these products have been suspended
pending a detailed analysis and review of the issues which have been raised by
the FSA.

The board sees no reason at this stage to give revised earnings guidance for the
current financial year, compared with the consensus forecasts which are already
in the market.

As a matter of clarification, this investigation is separate from the continuing
FSA investigation into Berry Birch & Noble Financial Services Limited, which was
detailed in the most recent annual report of BBB and on which there has been no
further material development.


Enquiries:
Craig Butcher
Group Financial Director
Berkeley Berry Birch plc
Tel: [phone]

Media enquiries
Tony Langham
Lansons Communications
Tel: [phone]
Mobile: [phone]


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