Director Shareholding

St. James's Place Capital PLC
30 March 2004

St. James's Place Capital plc (the 'Company')



The Company was notified on 30 March 2004 of the following changes in interests
in ordinary shares of 15p in the Company held by the executive Directors named
below.



Sale of shares

As announced by the Company in March 2001, the trustees of the Company's
Deferred Bonus Scheme transferred shares to the executive Directors named below
on 28 March 2001.  These shares were held by the Company on behalf of the
Directors for a restricted period which ended on 28 March 2004.  These shares
are therefore no longer subject to forfeiture:


Name of Director                                     Number of shares

David Bellamy                                        23,855
Ian Gascoigne                                        21,686
Mike Wilson                                          57,831



The above Directors notified the Company on 30 March 2004 that on 29 March 2004
they sold the above shares in the Company at a price of 172p each, partly in
order to meet the cost of income tax arising from the awards ceasing to be
subject to forfeiture.



Award of shares under Deferred Bonus Scheme

The Company was also notified by the above Directors on 30 March 2004 of the
following interests in ordinary shares of 15p in the Company.  These interests
result from the transfer of shares to the Directors on 30 March 2004 by S G
Hambros Trust Company (Guernsey) Limited, trustees of the Company's Deferred
Bonus Scheme.  These Directors were previously interested in shares held by S G
Hambros Trust Company (Guernsey) Limited as one of a number of potential
discretionary beneficiaries.



These shares are held by the Company on behalf of the Directors for a restricted
period ending on 30 March 2007.


Name of Director                                     Number of shares awarded

David Bellamy                                        28,263
Ian Gascoigne                                        26,917
Mike Wilson                                          60,565





With the exception of the changes notified in this announcement, the Directors'
interests in ordinary shares of the Company are unchanged.



The interests of the above named Directors in options to subscribe for ordinary
shares in the Company are unchanged.


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