Final Results

Law Debenture Corp PLC
27 February 2002


                   Preliminary announcement of group results

                For the year ended 31 December 2001 (unaudited)

The directors recommend a final dividend of 21.20p on the ordinary shares for
the year ended 31 December 2001; this, together with the interim dividend of
13.30p paid in September 2001, makes a total of 34.50p (2000: 34.00p) for the
year, an increase of 1.5% compared with 2000.

Consolidated statement of total return

For the year ended 31 December
                                                   2001                                  2000
                                     Revenue       Capital       Total      Revenue     Capital     Total
                                      £000          £000         £000        £000        £000        £000

Total capital (losses)/gains from       -         (34,684)     (34,684)        -         5,921      5,921
investments

Income from investments and           9,226           -          9,226      10,728         -        10,728
deposits

Trustee and other fee income         11,663           -         11,663      10,422         -        10,422

Underwriting commission and other      53             -           53          60           -          60
income

Gross revenue and capital            20,942       (34,684)     (13,742)     21,210       5,921      27,131
(losses)/gains

Administrative expenses              (9,636)          -         (9,636)     (8,527)        -       (8,527)

Net return, including profit on      11,306       (34,684)     (23,378)     12,683       5,921      18,604
ordinary activities before
interest payable and taxation

Interest payable                     (2,479)          -         (2,479)     (2,501)        -       (2,501)

Return, including profit on           8,827       (34,684)     (25,857)     10,182       5,921      16,103
ordinary activities before
taxation

Taxation                              (598)           -          (598)      (1,027)        -       (1,027)

Return, including profit              8,229       (34,684)     (26,455)      9,155       5,921      15,076
attributable to shareholders

Dividends                            (8,057)          -         (8,057)     (7,931)        -       (7,931)

Transfer to/(from) reserves            172        (34,684)     (34,512)      1,224       5,921      7,145

Return per share (pence)              35.25       (148.59)     (113.34)      39.25       25.39      64.64

Diluted return per share (pence)      34.53           *            *         38.45       25.01      63.46


The revenue columns of this statement represent the profit and loss accounts of
the Group.

* No dilutive effect

 Net asset value

Based on the group balance sheet as at 31 December 2001 and valuing listed
investments at middle market prices and unlisted investments at directors'
valuations, the net asset value of each share was 1,114.6p (2000: 1,263.0p), a
decrease of 11.7%. Over the same period, our benchmark, the FTSE Allshare Index,
declined by 15.4%.

Dividends
                                                        2001            2000

                                                        £000            £000
Interim of 13.3p (2000: 13.0p)                         3,105           3,032
Proposed final of 21.2p (2000: 21.0p)                  4,952           4,899
Total 34.5p (2000: 34.0p)                              8,057           7,931

Geographical distribution of the portfolio
                                                        2001            2000
                                                           %               %

UK                                                      68.5            67.1
N. America                                              10.0             9.8
Europe                                                  14.6            17.6
Pacific                                                  6.9             5.5
                                                       100.0           100.0

Prospects

We remain committed to maintaining a quality portfolio that will add value in
the long term.

The trustee services business enjoyed a record year in terms of income, profits
and new business generation. We believe that our ability to provide professional
independent trustee services is unmatched and that the opportunities exist for
continued expansion, both from existing business sources and broader ancillary
services and also from the enhanced geographical coverage afforded by our
overseas offices.

Subject to the recommended final dividend of 21.2p per share being approved at
the Annual General Meeting to be held at the Brewers' Hall, Aldermanbury Square,
London EC2V 7HR on Tuesday 9 April 2002, dividend warrants will be posted on 15
April 2002 to holders on the register on the record date of 8 March 2002.

By order of the board 26 February 2002

Law Debenture Corporate Services

Secretary

Copies of this announcement are available from the Corporation's Registered
Office at Fifth Floor, 100 Wood Street, London EC2V 7EX



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