Trading Update

Rensburg Sheppards plc
11 October 2006

                                                                 11 October 2006


                             RENSBURG SHEPPARDS PLC
                    ('RENSBURG SHEPPARDS' OR 'THE COMPANY')

                                 TRADING UPDATE

    COMPLETION OF INTEGRATION OF CARR SHEPPARDS CROSTHWAITE LIMITED ('CSC')

In the Company's results for the period to 31 March 2006 it was reported that
the integration of CSC was well advanced.  The Company is pleased to announce
that the final stage of the integration, the consolidation of the two settlement
functions, was completed on 30 September 2006.

The integration was the largest of its kind undertaken by a UK private client
investment manager and involved a series of stages.  Charging structures were
aligned onto a common rate card on 1 December 2005 which improved the quality of
our income by increasing the percentage of total income represented by fees.
Later that month Rensburg Investment Management Limited ('RIM') migrated to
share a common operating platform with CSC.

The combination of the two operating companies RIM and CSC into the single legal
entity and brand of Rensburg Sheppards Investment Management Limited, occurred
on 1 February 2006. Subsequent to this the central functions have been merged,
information technology systems integrated and the alignment of employee
remuneration structures has been decided.

Mike Burns, Chief Executive, commented:

"The completion of this project marks an important stage in the development of
Rensburg Sheppards and provides a robust platform to support future growth both
organically and through acquisitions.  I would like to re-iterate my thanks to
our clients for their continuing patience, understanding and support during this
period.

I would also like to express my gratitude to our employees who worked tirelessly
on this project and demonstrated commitment and professionalism throughout. This
transition would not have been possible without their continued dedication and
hard work."

The Company expects to announce its results for the six months ending 30
September 2006 on 14 November 2006.  Trading conditions remain satisfactory and
the Company expects to deliver results in line with the Directors' expectations.

                                      Ends

For further information, please contact:

Michael Burns, Chief Executive  Tel:  [phone]
Rensburg Sheppards plc

Nick Lyon Tel:  [phone]
Hudson Sandler






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