Introduction of Protection Panel

24 January, 2003

ST.  JAMES'S PLACE INTRODUCES PROTECTION PANEL IN ADVANCE OF DEPOLARISATION

St. James's Place, the wealth management group, announced that its financial advisers are to offer the protection
products of five other leading life assurers: Scottish Provident, Scottish Equitable, Norwich Union, BUPA and
Prudential.

After announcing this step at the Annual Conference of the St. James's Place Partnership, the group's 1100 experienced
financial advisers, the group Chairman Sir Mark Weinberg said: 

'Through our wealth management service, we seek to make available to our clients the best value products available in
the market. 

'Strong competition for term life assurance, critical illness and permanent health plans means that no one company can
offer the best solution across the board and the setting up of a panel of providers for non-regulated business enables
our advisers to offer 'best of breed' products in this field.

'When the changes in the polarisation rules are implemented, it is our intention to extend this approach beyond the
field of term protection.

'This is consistent with the approach we have always adopted for our investment business, where we contract our the
management of our funds to external managers selected and monitored with the help of independent investment consultants
Stamford Associates.'

Sir Mark pointed out that the reduction in margins received by St James's Place should be compensated by greater
volumes of business.

Enquiries:

Sir Mark Weinberg,    Chairman                  0207 514 1909 up to 11am              
Martin Moule,         Finance Director          0207 514 1909 up to 11am              
Nitya Bolam,          Brunswick                 0207 404 5959