Trading Update

Polar Capital Holdings PLC
19 April 2007



19 April 2007



                           Polar Capital Holdings plc

                                 Trading Update



Polar Capital Holdings plc ('Polar Capital' or the 'Company'), the specialist
asset management group, today provides a trading update for the year ended 31
March 2007 in advance of the Company's preliminary results, scheduled to be
announced on 26 June 2007.



As at 31 March 2007 funds under management stood at $3.4 billion, an increase of
38.6% since 31 March 2006.  For the year, the Company experienced a net inflow
of funds of approximately $700 million primarily into the firm's portfolio of
hedge funds.



It is expected that profit before tax for the year ended 31 March 2007, prior to
IPO costs, will exceed £11 million.



Commenting on today's trading update, Mark Kary, Chief Executive of Polar
Capital said:



'Over the past 12 months we have entered a significant seeding arrangement with
XL Capital to enhance our ability to launch new funds (six new funds have been
launched this year) and completed a successful IPO on AIM. The 38.6% increase in
funds under management to $3.4 billion, the continued performance of our product
range and our strong operational infrastructure position us well for future
growth.'





For further information please contact:




Polar Capital                                               [phone]
Mark Kary
John Mansell


Bridgewell                                                  [phone]
Ben Money-Coutts
Stephen Cheung


Financial Dynamics
Ed Gascoigne-Pees                                           [phone]
Paul Marriott                                               [phone]





About Polar Capital



Polar Capital was founded in December 2000 by Brian Ashford-Russell and Tim
Woolley who were previously responsible for the management of Henderson Global
Investors' technology funds.  Caledonia Investments plc became a founding
shareholder and Polar Capital's corporate structure was established and received
regulatory approval in January 2001. Mark Kary joined as CEO from Morgan Stanley
in April 2005 to lead the Company's next stage of development and in October
2006 the Company entered into a seeding agreement with a subsidiary of XL
Capital Ltd (NYSE:XL) which has committed to provide up to $175m in investment
seed capital to support the launch of certain new funds.



Today Polar Capital has a staff of 54 of whom 29 are investment professionals
managing 16 funds, one managed account and two advisory relationships. These
funds, which are aimed at institutional and professional investors, have
combined assets under management at 31 March 2007 of $3.4bn.  Polar Capital's
first business unit focused on the technology sector, and subsequent recruitment
resulted in the establishment of the Japan and UK teams (2001), Europe (2003),
Global Emerging Markets (2004), Utilities (2005), and Macro and Global
Opportunities (2006).




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