3rd Qtr New Business Figures

St. James's Place Capital PLC
01 November 2002

                                                               1st November 2002


                              NEW BUSINESS FIGURES
                              FOR THE NINE MONTHS
                              TO 30 SEPTEMBER 2002


St. James's Place Capital plc ('SJPC'), the Wealth Management Group, today
announces new business figures for the nine months to 30 September 2002.


Enquiries:

Mike Wilson, Chief Executive                           Tel: [phone]
Martin Moule, Finance Director                         Tel: [phone]
Nitya Bolam, Brunswick                                 Tel: [phone]


                               

                              NEW BUSINESS FIGURES
                              FOR THE NINE MONTHS
                              TO 30 SEPTEMBER 2002


                          FUNDS UNDER MANAGEMENT UP 3%
                            AND INCREASED FEES FROM
                          WEALTH MANAGEMENT SERVICES


• New Premiums:

  Regular Premiums                  £ 36.5m

  Single Premiums                   £608.8m

  Unit Trust Sales                  £202.1m


• Total new business and change since 2001:

  Investment                        £ 64.4m              -24%

  Pensions                          £ 38.5m              -26%

  Protection                        £ 14.7m              - 8%

  Total                             £117.6m              -20%
                                                         (see Note 3 of Notes to 
                                                         Editors)

  Funds under management            £5.6 billion         +3% over the previous 
                                                         year


• New sums assured were £3.4 billion, up 18% over 2001


• Gross fees generated from additional wealth management services
  were £ 8.1 million


Mike Wilson, Chief Executive, commented:

'Our new business in the third quarter has continued to reflect difficult
investment markets.

We are delighted with the continued increase in fees from our Wealth Management
Services, which have risen each quarter this year.  We continue to develop our
Wealth Management offering with the recent launch of a General Insurance Broking
Service and Business Banking.'




                              ST. JAMES'S PLACE GROUP
                               NEW BUSINESS FIGURES
                      FOR THE NINE MONTHS TO 30 SEPTEMBER 2002


                                         Unaudited                                     Unaudited
                                        3 Months to                                   9 Months to
                                     30 September 2002                             30 September 2002
                               2002       2001         Change                 2002        2001         Change
                                £'m        £'m              %                  £'m         £'m              %

New Regular Premiums
     Investment                 0.1        0.3          (67%)                  0.3         1.2          (75%)
     Pensions                   6.2        8.2          (24%)                 21.5        35.0          (39%)
     Protection                 5.0        5.7          (12%)                 14.7        16.0           (8%)

                               11.3       14.2          (20%)                 36.5        52.2          (30%)

New Single Premiums
     Investment               131.8      174.4          (24%)                438.7       582.7          (25%)
     Pensions                  56.7       74.0          (23%)                170.1       167.0            2%

                              188.5      248.4          (24%)                608.8       749.7          (19%)

Unit Trust Sales
(including PEPs and            
ISAs)                          44.9       63.7          (30%)                202.1       251.2          (20%)





                                       3 Months to                                    9 Months to
                                    30 September 2002                              30 September 2002

Total New Business
(RP + 1/10th SP)              2002       2001          Change                 2002         2001         Change
                               £'m        £'m               %                  £'m          £'m              %

Investment                    17.8       24.1           (26%)                 64.4         84.6          (24%)
Pensions                      11.9       15.6           (24%)                 38.5         51.7          (26%)
Protection                     5.0        5.7           (12%)                 14.7         16.0           (8%)

Total                         34.7       45.4           (24%)                117.6        152.3          (23%)

Revised Total                 
(see note 3)                  34.7       45.4           (24%)                117.6        146.6          (20%)





                              ST. JAMES'S PLACE GROUP
                                NEW BUSINESS FIGURES
                      FOR THE NINE MONTHS TO 30 SEPTEMBER 2002

                                   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.

 2. Sales of Stakeholder pensions by St. James's Place Partnership have been
    included in the reported figures.  These have been included under 'pensions'
    and amount to £7.1 million regular premiums (2001: £ 4.3 million) and £14.3
    million single premiums (2001: £1.7 million).  This equates to £8.5 million
    New Business premiums.

 3. During the second quarter of 2001 the tax treatment of self employed pension
    plans changed so that premiums were paid net of tax relief rather than
    gross.  SJP Group offered policyholders the facility to increase
    contributions so their net contribution remained unchanged.  The
    overwhelming proportion of policyholders left their existing direct debits
    in force.  This generated a one off increase in annual premiums of  £ 5.7
    million per annum.

 4. Fees for Wealth Management Services were £ 1.9 million in the first quarter,
    £2.8 million in the second quarter and  £ 3.4 million in the third quarter,
    making a total of £ 8.1 million year to date.


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