1st Quarter New Business

St. James's Place Capital PLC
04 May 2006



                                                                      4 May 2006


         New business figures for the three months ended 31 March 2006


St. James's Place Capital plc ('SJPC'), the wealth management group, today
announces its new business figures for the three months ended 31 March 2006.


The text of the announcement is attached:


Enquiries:

Mark Lund, Chief Executive                  Tel:      [phone]

Nitya Bolam, Brunswick                      Tel:      [phone]




                            ST. JAMES'S PLACE GROUP
                              NEW BUSINESS FIGURES
                               FIRST QUARTER 2006

              SJPC REPORTS 57% GROWTH IN NEW BUSINESS

                                                  3 months to             Change
                                                31 March 2006

• Long Term Savings

  New Business*
   Investment                                   £43.2 million              + 71%
   Pensions                                     £20.6 million              + 55%
   Protection                                    £5.6 million                 0%

   Total                                        £69.4 million              + 57%
  * see note 1

• Wealth Management Services

  Gross fees generated                           £6.5 million               + 37%

• Funds under management at £13.5 billion up 10% since the start of the year and
  up 36% over the previous twelve months


    Mark Lund, Chief Executive, commented:

    'These are excellent new business figures which demonstrate the strength and
    quality of the St. James's Place Partnership.  The substantial growth in both
    our investment and pension business, up 71% and 55% respectively, is particularly
    pleasing.

    'Whilst we continue to benefit from the buoyant stock market we expect our relative
    rate of growth to slow during the remainder of the year as the much stronger new
    business comparatives come through.  We now anticipate coming in at the upper end
    of the range of our longer term new business growth target of 15-20% in 2006.'


                              ST. JAMES'S PLACE GROUP
                                NEW BUSINESS FIGURES
                                 FIRST QUARTER 2006
                                 LONG TERM SAVINGS


                                                         Unaudited
                                                        3 Months to
                                                       31 March 2006
    NEW PREMIUMS
                                                2006       2005     Change
                                                 £'m        £'m          %

    New Regular Premiums
           Pensions                              9.3        7.1         31%
           Protection                            5.6        5.6          0%

                                                14.9       12.7         17%

    New Single Premiums
           Investment                          288.9      166.9         73%
           Pensions                            113.0       61.8         83%

                                               401.9      228.7         76%

    Unit Trust Sales                           143.4       86.3         66%
    (including PEPs and ISAs)
                                               

    NEW BUSINESS                                2006       2005      Change

    (RP + 1/10th SP)                             £'m        £'m           %

    Investment                                  43.2       25.3         71%
    Pensions                                    20.6       13.3         55%
    Protection                                   5.6        5.6          0%
                                               ------    -------      ------

                                    Total       69.4       44.2         57%
                                               -------   -------     -------



                              ST. JAMES'S PLACE GROUP
                                NEW BUSINESS FIGURES
                                 FIRST QUARTER 2006

                                       Notes

     1.  New business from long term savings is calculated in accordance with
         the life assurance industry convention by adding together new regular
         premiums and one-tenth of single premiums and unit trust sales.

     2.  Sales of manufactured business on an APE basis for the three months was
         87% of the total reported (2005: 84%).

         Sales of non-manufactured pensions including stakeholder by St. James's
         Place Partnership have been included in the reported figures under
         Pensions. These amount to £3.5 million new regular premiums (2005: £3.5 
         million) and £8.6 million single premiums (2005: £6.0 million) for the
         three months to 31 March 2006. This equates to £4.4 million new 
         business premiums (2005: £4.1 million).

         Sales of annuities by St. James's Place Partnership have been included
         in the reported figures under Pensions. These amount to £9.3 million
         single premiums for the three months to 31 March 2006 and equate to
         £0.9 million new business premiums. The comparative figure has not been
         restated to include equivalent sales in the first quarter of 2005.
         Sales in this period were £7.5 million single premiums (£0.7 million
         new business premiums).

         Sales of protection business by St. James's Place Partnership through a
         panel of providers have been included in the reported figures under New
         Regular Premiums Protection. These amount to £3.5 million of new
         regular premiums (2005: £3.4 million) for the three months to 31 March
         2006. This equates to £3.5 million new business premiums (2005: £3.4 
         million).







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