Directorate Change

St. James's Place Capital PLC
20 December 2002


St. James's Place Capital plc ('SJPC')

St James's Place Capital plc ('SJPC') announces the following Board changes:

Jim Spowart has today resigned as a non-executive Director of SJPC, in the light
of his new commitments at HBOS plc.  The Board is, however, pleased to announce
that Mr Grenville Turner has been appointed a non-executive director of SJPC in
the place of Mr Spowart also with immediate effect.  Mr Turner has replaced Jim
Spowart as Chief Executive of Intelligent Finance (a division of HBOS plc).

There are no circumstances to be disclosed in accordance with Listing Rule 6.F.2
for Mr Turner.

At the date of his appointment to SJPC, Mr Turner had no interests in the
ordinary 15p shares of SJPC.


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