Directorate Change

17 July, 2003

ST. JAMES'S PLACE ANNOUNCES SUCCESSION PLANS

St. James's Place Capital (SJPC) today announces the appointment from January 2004 of Mark Lund, aged 46, as Deputy
Chief Executive and Chief Executive Designate.  Mark will join from JP Morgan FundsHub, the technology provider for
online funds distribution and multi-manager programmes, where he is Chief Executive.  He was formerly head of
Henderson's Global Retail business and a main board director for Henderson Global Investors plc, where he worked for 10
years.

It is intended that Mark Lund be appointed as Chief Executive no later than December 2004 when Mike Wilson will become
full-time Chairman of the Group and Sir Mark Weinberg will step down from the SJPC Board to take up the role of
President.  Sir Mark will continue to be closely involved with the Group, concentrating on chairing the St. James's
Place Investment Management Committee and giving strategic advice. The Group will therefore continue to benefit from
his unparalleled industry experience.

Sir Mark Weinberg, Chairman commented:

'We are delighted that Mark Lund is joining the Group.  His previous experience at Henderson managing a large
organisation coupled with his in-depth understanding of the retail investment industry will be invaluable as we
continue to evolve our wealth management business model. 

'We have given detailed consideration to the succession planning for SJPC and believe the structure we have devised
allows for a phased transition ensuring the necessary management continuity.  We are confident that the complimentary
skills of the SJPC executive directors comprising Mike Wilson, Mark Lund, David Bellamy, Managing Director and Ian
Gascoigne, Group Sales Director put us in an excellent position to take the Group forward.'

Mike Wilson, Chief Executive commented:

'It is a great pleasure to welcome Mark to the Group and I look forward to developing a long and successful working
partnership with him.  Mark's appointment adds to the breadth and depth of experience that we have at senior level and
positions us well to capitalise on opportunities in the future.'

Mark Lund, commented:

'I am thrilled to be joining St. James's Place Capital, a company I have always admired.  I am excited at the growth
prospects and challenges that lie ahead and look forward to working with one of the industry's most respected
management teams.'
There are no circumstances to be disclosed in accordance with paragraphs 6.F.2(b) to (g) of the Listing Rules for Mr
Lund.
Enquiries to:

Anita Scott/Nitya Bolam                                                    
Brunswick Group                                            020 7404 5959   

Notes to editors

Mark Lund
Mark Lund joined JPMorgan FundsHub, the technology provider for online funds distribution and multi-manager programmes,
as Chief Executive in January 2001. 

He was formerly Chief Executive of Virgin Direct, the joint venture between AMP and Virgin.  Prior to joining Virgin
Direct, he was head of the Global Retail business and a main board director for Henderson Global Investors plc, where
he worked for 10 years. 

Mark has extensive experience of investment management and distribution across three continents.  He has served as a
director of investment businesses in the UK, US, Canada, Netherlands, Luxembourg, Singapore and Japan. 

Former roles - Mark was a management consultant with Booz Allen/Spicer and Oppenheim for seven years prior to joining
Henderson. 

Mark was educated at Liverpool Polytechnic and Leeds University where he gained BA and MA degrees in Economics. 

He is married with three children.