Acquisition

Rathbone Brothers PLC
16 December 2003


                             RATHBONE BROTHERS PLC
                          ('Rathbones' or 'the Group')
                      Acquisitions and Additional Listing

The Board of Rathbones is pleased to announce the acquisition of the following
companies on 15 December 2003, all of which have, over a period, introduced
investment management clients to the Group.

Company                          Consideration           No. of Ordinary
                                                                  shares
Astonlake Limited                     £191,853                    26,096
Dalenorth Limited                     £342,000                    46,524
Trendon Limited                       £300,292                    40,850
Total                                 £834,145                   113,470

Application will be made to the London Stock Exchange and to the UK Listing
Authority for the admission of the 113,470 5p Ordinary Shares which have been
issued at £7.351 as consideration in connection with the acquisitions noted
above.

The shares will rank pari passu with the existing Ordinary Shares.

Richard Loader
Company Secretary
Telephone no. 020 7399 0162
16 December 2003


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