Full Year New Business Result

St. James's Place Capital PLC
26 January 2001


PRESS RELEASE


                                                               26 January 2001



                 St. James's Place Group New Business Figures



St. James's Place Group, wholly owned by St. James's Place Capital plc, has
announced its new business figures for the year ending 31 December 2000.



The text of the announcement is attached.


Enquiries:


Mike Wilson, Chief Executive
              Tel: [phone]

Martin Moule, Finance Director
              Tel: [phone]


Cordelia Hime
Brunswick
                       Tel: [phone]




                     RECORD SALES FOR ST.  JAMES'S PLACE

                      - New investments of £1.2 billion

                       -  Total New Business up 42%


*       Highlights for the year and increases over 1999 were:




                                                      Year Ended

                                                   31 December 2000
                                                £'Million            Increase


New Regular Premiums                                 61.2            +3%

New Single Premiums                                 898.5            +61%

New Unit Trust Sales                                341.6            +122%
(includes PEPs and ISAs)

Total New Business                                  185.1            +42%



*       Total Group funds under management increased by 24% since the
beginning of the year to £5.7 billion.



*       The size of the St. James's Place Partnership, the  sole UK marketing
arm of St.  James's Place Group has increased by 8% from 972 to 1050, during
the year.  On average, the members of the St. James's Place Partnership have
12 years experience in financial services.



Mike Wilson, Group Chief Executive, commented:



'We are delighted that new business growth exceeded 40% for each quarter in
2000.  The last quarter was the highest of the year.



The outstanding growth in new business reflects primarily a substantial
increase in productivity per member of St. James's Place Partnership'.


                          ST.  JAMES'S PLACE GROUP

                           NEW BUSINESS FIGURES

                       FOR YEAR TO 31 DECEMBER 2000


                         Unaudited                          Unaudited

                        3 Months to                          Year to

                        31 December                     31 December 2000
                           2000


Total Group         2000     1999    Growth          2000   1999         Growth
Business


                     £'m      £'m         %           £'m    £'m              %


Life and
Pension
Business

New Regular
Premiums

Life                 8.3      8.0        4%          24.9   25.8          (3%)
Pension             10.5      9.9        6%          36.3   33.5             8%

                    18.8     17.9        5%          61.2   59.3             3%

New Single
Premium

Life               228.0    147.4       55%         765.3  476.8            61%
Pension             57.2     18.2      214%         133.2   82.2            62%

                   285.2    165.6       72%         898.5  559.0            61%

Unit Trust
Business
(including PEPS
and ISAs)


New Sales           68.1     37.5       82%         341.6  154.0           122%


Total New
Business

Life                31.1     22.7       37%         101.3   73.5            38%
Pension             16.2     11.7       38%          49.6   41.7            19%
Unit Trust           6.8      3.8       82%          34.2   15.4           122%

                    54.1     38.2       42%         185.1  130.6            42%


                           ST.  JAMES'S PLACE GROUP



                             NEW BUSINESS FIGURES

                         FOR YEAR TO 31 DECEMBER 2000


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.              Halifax's offer for 60% of SJPC gave shareholders the
opportunity to take loan notes rather than cash.  During the last quarter of
2000 an offer was made to loan note holders to convert their holdings to unit
trusts.  The resulting unit trust sales of £24.3 million have been excluded
from the reported numbers.



3.              Sales from Nascent, the Group's planned joint venture company
with Securitas Capital LLP in Italy have been excluded from the reported
figures.  For consistency, prior year numbers have also been restated to
exclude business from the previous international distribution.



4.              Group new business therefore comprises new business from the
sole UK marketing arm, the St. James's Place Partnership, together with the '
miscellaneous distribution' of £0.6m from other sources.



5.              Nascent made investment sales (almost all during the last 5
months of the year 2000) of £47 million, of which £30 million related to
products of other fund management firms.  New annual premiums amounted to £
770,000.  At the end of the year Nascent had 62 sales people under contract.