Final New Business Results

St. James's Place Capital PLC
24 January 2002


                                PRESS RELEASE

                                                               24 January 2002


             New Business Figures for year ended 31 December 2001


St. James's Place Capital plc ('SJPC'), the wealth management group, today
announces its new business figures for the year ended 31 December 2001.


The text of the announcement is attached:


Enquiries:

Mike Wilson, Chief Executive                                Tel:   [phone]

Nitya Bolam, Brunswick                                      Tel:   [phone]



                            ST.  JAMES'S PLACE GROUP



2001 FIGURES FOR NEW BUSINESS AND

 WEALTH MANAGEMENT SERVICES


  • SJPC - the wealth management group - today announces its new business
    results for the year ended 31 December 2001.


Highlights for the year and changes over 2000 were:


New Regular Premiums                                    £70.7m              +16%

New Single Premiums                                  £1,025.6m              +14%


New Unit Trust Sales
(includes PEPs and ISAs)                               £313.3m               -8%

Total New Business                                     £204.6m              +11%




  • Highly successful implementation of additional wealth management services,
    with the launch of St. James's Place Bank, which has over £100 million of
    credit balances. In addition, over £1 billion of mortgages have been
    arranged.


  • Total group funds under management increased by 10% since the beginning of
    the year to £6.3 billion.


  • The size of the St. James's Place Partnership, the sole UK marketing arm
    of St. James's Place Group has increased by 7% from 1,050 to 1,121, during
    the year. On average, the members of the St. James's Place Partnership have
    14 years experience in financial services.



Mike Wilson, Group Chief Executive, commented:



'We are very pleased with these figures, despite difficult market conditions and
following 42% growth in 2000.  The 15% increase in life and pensions sales
demonstrates the adaptability and resilience of the St. James's Place
Partnership. Our clients' response to the additional services introduced during
the year reinforces our confidence in St. James's Place's advice based approach
to wealth management.'





                            ST.  JAMES'S PLACE GROUP

                          2001 FIGURES FOR NEW BUSINESS


                                           Unaudited                                    Unaudited
                                          3 Months to                                  12 Months to
                                       31 December 2001                             31 December  2001
                                 2001         2000          Growth             2001         2000         Growth

                                  £'m          £'m               %              £'m          £'m              %
Life and Pensions Business                                                                            

New Regular Premiums
  Life                            8.7          8.3              5%             25.9         24.8             4%
  Pensions                        9.8         10.5            (7%)             44.8         36.3            23%

                                 18.5         18.8            (2%)             70.7         61.1            16%

New Single Premiums
  Life                          190.1        228.0           (17%)            772.8        765.3             1%
  Pensions                       85.8         57.2             50%            252.8        133.2            90%

                                275.9        285.2            (3%)          1,025.6        898.5            14%

Unit Trust Business
(including PEPs and ISAs)

New Single Premiums              62.1         68.1            (9%)            313.3        341.6           (8%)


Total New Business
(RP + 1/10th SP)

Life                             27.7         31.1           (11%)            103.2        101.3             2%
Pensions                         18.4         16.2             14%             70.1         49.6            41%


Life and Pensions                46.1         47.3            (3%)            173.3        150.9            15%

Unit Trust                        6.2          6.8            (9%)             31.3         34.2           (8%)


Total                            52.3         54.1            (3%)            204.6        185.1            11%




                            ST. JAMES'S PLACE GROUP

                     ADDITIONAL WEALTH MANAGEMENT SERVICES


During the year, in accordance with our strategy, we have introduced and built
upon a number of financial services and products that were not previously
available through the St. James's Place Partnership. By positioning members of
the St. James's Place Partnership as providers of comprehensive wealth
management services, this helps them both acquire new clients and secure more
business from existing clients.


                            KEY BUSINESS HIGHLIGHTS

                      FOR THE YEAR ENDED 31 DECEMBER 2001

                                   Unaudited


St. James's Place Bank (launched July 2001)


Number of facilities                                                                    11,309*
Number of new clients                                                                    4,590
New mortgage advances                                                                  £221.6m
New credit balances                                                                    £128.9m




Panel Mortgages (Panel of providers excluding  St. James's Place Bank)

New mortgage advances                                                                  £852.3m



Portfolio Management Services (Laing and Cruickshank, Quilters - launched March
2001)

New portfolios                                                                          £67.6m



Employee Benefits (Swiss Life - launched May 2001)

Sums assured:
Group life                                                                             £102.3m
Critical illness                                                                         £5.0m
Permanent Health Insurance                                                          £2.2m p.a.



Trust and Estate Planning Services (Simmons & Simmons, Halliwell Landau)

Number of cases                                                                            221

Gross fees generated from additional wealth management
services                                                                                 £5.0m


* Number of facilities denotes the number of individual mortgages, personal
loans, credit cards, current accounts and savings accounts, where one client may
hold a number of facilities. The average number of facilities per client is
2.46.



                            ST.  JAMES'S PLACE GROUP



2001 FIGURES FOR NEW BUSINESS AND

WEALTH MANAGEMENT SERVICES


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 and unit trust sales.

2.        New business indicator (NBI), the measure used internally to equate the relative value of
          different classes of business, was £63.7 million, up 4% on 2000. This excludes business from
          additional wealth management services.

3.        Sales of Stakeholder pensions through Clerical Medical by St. James's Place Partnership have been
          included in the reported figures.  These have been included under 'pensions' and amount to £8.3
          million regular premiums and £6.9 million single premiums (equivalent to £9.0 million on a Total
          New Business basis). This represents under 5% of Total New Business.

4.        Sales from Nascent, the Group's joint venture company in Italy, have been excluded from the
          reported figures.  Nascent made investment sales during the year ended 31 December 2001 of £101.2
          million, of which £31.1 million related to products of other fund management firms.  At the end
          of the period Nascent had 258 sales people (including Insurance advisers) under contract. The
          comparable figure at the end of September was 210.




                      This information is provided by RNS
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