Directorate Change

St. James's Place Capital PLC
22 October 2002


                     ST. JAMES'S PLACE CAPITAL PLC ('SJPC')


SJPC is pleased to announce that Ian Gascoigne will be promoted to Group Sales
Director and will be appointed a Director of the SJPC Board with effect from 1
January 2003.

In December 2001 SJPC announced that John Newman, Group Sales Director, had
decided to retire from the SJPC Board in 2003, (at a date yet to be decided)
with the intention that Ian Gascoigne would succeed John Newman as Group Sales
Director.  John Newman has decided to step down from the SJPC Board and as Group
Sales Director with effect from 1 January 2003.  He will retire from the Group
on 30 June 2003 and until that date will remain a Director of the Group's UK
life company, St. James's Place UK plc.


Mike Wilson, Group Chief Executive commented:


'John Newman has made a significant contribution to both the growth and
development of our salesforce, the St. James's Place Partnership, and the
Company in the 11 years he has been with the Group.  I am sure that Ian
Gascoigne will build on that success following his appointment as Group Sales
Director from 1 January 2003'.


There are no circumstances to be disclosed in accordance with Listing Rule 6.F.2
(b) - (g) for Mr Gascoigne.


Enquiries:



Mike Wilson, Group Chief Executive      Tel: [phone]
Anita Scott, Brunswick Group Ltd        Tel: [phone]


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