3rd Qtr New Business Figures

St. James's Place Capital PLC
31 October 2001



PRESS RELEASE


31 October 2001


New Business Figures for nine months ended 30 September 2001



St. James's Place Capital plc ('SJPC'), the wealth management group, today
announces its new business figures for the nine months ending 30 September
2001.


The text of the announcement is attached:


Enquiries:

Mike Wilson, Chief Executive                 Tel:      [phone]

Nitya Bolam, Brunswick                       Tel:      [phone]



                           ST.  JAMES'S PLACE GROUP


NEW BUSINESS FIGURES

UP 16% FOR NINE MONTHS ENDED 30 SEPTEMBER 2001



  * SJPC - the wealth management group - today announces its new business
    results for the nine months ended 30 September 2001.



Highlights for the nine months and changes over 2000 were:




New Regular Premiums

Life                                                       £17.2m           +4%
Pension                                                    £35.0m          +36%
Total                                                      £52.2m          +23%

New Single Premiums

Life                                                      £582.7m           +8%
Pension                                                   £167.0m         +120%
Total                                                     £749.7m          +22%

New Unit Trust Sales
(includes PEPs and ISAs)                                  £251.2m           -8%

Total New Business                                        £152.3m          +16%



Mike Wilson, Group Chief Executive, commented:



'We are very pleased with the 16% growth in our new business despite difficult
market conditions.  Life and Pensions sales increased by 23% demonstrating the
adaptability and the resilience of the St. James's Place Partnership.'




                           ST.  JAMES'S PLACE GROUP



NEW BUSINESS FIGURES

FOR NINE MONTHS TO 30 SEPTEMBER 2001



                                Unaudited                     Unaudited

                               3 Months to                   9 Months to

                            30 September 2001            30 September  2001

Total Group Business       2001       2000  Growth       2001       2000 Growth

(Excluding
International)
                            £'m        £'m       %        £'m        £'m      %
Life and Pension
Business

New Regular Premiums
Life                        6.0        5.5      9%       17.2       16.6     4%
Pension                     8.2        8.5    (4%)       35.0       25.8    36%

                           14.2       14.0      1%       52.2       42.4    23%

New Single Premiums
Life                      174.4      183.7    (5%)      582.7      537.3     8%
Pension                    74.0       30.4  143%        167.0       76.0   120%

                          248.4      214.1     16%      749.7      613.3    22%

Unit Trust Business

(including PEPs and
ISAs)

New Single Premiums        63.7       72.7   (12%)      251.2      273.5   (8%)

Total New Business
Life                       23.4       23.9    (2%)       75.5       70.3     7%
Pension                    15.6       11.5     36%       51.7       33.4  55%
Unit Trust                  6.4        7.3   (12%)       25.1       27.4   (8%)

                           45.4       42.7      6%      152.3      131.1    16%




                           ST.  JAMES'S PLACE GROUP



NEW BUSINESS FIGURES

FOR NINE MONTHS TO 30 SEPTEMBER 2001



Notes to Editors


1. 'Total New Business' is calculated following the convention in the life
   assurance industry, by adding together new regular premiums and one-tenth of
   single premiums and unit trust sales.

2. Funds under management were £5.5 billion, down 4% since the year end.

3. New business indicator (NBI), the measure used internally to equate the
   relative value of different classes of business, was £46.6 million, up 9% on
   2000.

4. Sales of Stakeholder pensions through Clerical Medical by St. James's Place
   Partnership have been included in the reported figures.  These have been
   included under 'pensions' and amount to £4.3 million regular premiums and £
   1.7 million single premiums (equivalent to £4.5 million on a Total New
   Business basis).

5. Sales from Nascent, the Group's joint venture company in Italy, have been
   excluded from the reported figures.  Nascent made investment sales during
   the nine months ending 30 September 2001 of £79.6 million, of which £25.4
   million related to products of other fund management firms.  At the end of
   the period Nascent had 158 sales people under contract.