Non Core Investment Managemen

RNS Number : 8138A

Lloyds Banking Group PLC

15 October 2009

 

92/09                                                                                                                                       15 October 2009

LLOYDS BANKING GROUP STATEMENT ON CERTAIN NON CORE DISCRETIONARY INVESTMENT MANAGEMENT ACTIVITIES

Lloyds Banking Group plc confirms it is in discussions with Rathbone Brothers Plc regarding the possible sale of assets relating to certain non core private client discretionary investment management activities, principally the Bank of Scotland Portfolio Management Service.

Discussions are ongoing but there is no certainty that a transaction will proceed.

Lloyds Banking Group will provide a further update to the market in due course.

For further information:

Investor Relations

Michael Oliver    [phone]

Director of Investor Relations

Email: [e-mail]

Douglas Radcliffe    [phone]

Senior Manager, Investor Relations

Email: [e-mail]

Media Relations

Shane O'Riordain    [phone]

Group Communications Director

Email: shane.o'[e-mail]

Ross Keany    [phone]

Senior Media Relations Manager

Email: [e-mail]

FORWARD LOOKING STATEMENTS

This announcement contains forward looking statements with respect to the business, strategy and plans of the Lloyds Banking Group, its current goals and expectations relating to its future financial condition and performance.  By their nature, forward looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future.  The Group's actual future results may differ materially from the results expressed or implied in these forward looking statements as a result of a variety of factors, including UK domestic and global economic and business conditions, the ability to derive cost savings and other benefits as well as to mitigate exposures from the acquisition and integration of HBOS, risks concerning borrower quality, market related trends and developments, changing demographic trends, changes in customer preferences, changes to regulation, the policies and actions of governmental and regulatory authorities in the UK or jurisdictions outside the UK, including other European countries and the US, exposure to regulatory scrutiny, legal proceedings or complaints, competition and other factors.  Please refer to the latest Annual Report on Form 20-F filed with the US Securities and Exchange Commission for a discussion of such factors.  The forward looking statements contained in this announcement are made as at the date of this announcement, and the Group undertakes no obligation to update any of its forward looking statements.

 

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