Joint Venture/Re Directorate

St. James's Place Capital PLC
6 December 2000


St. James's Place Capital plc
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Re: European Joint Venture

Further to the announcement made on 25 July 2000, SJPC announces that
completion took place on 5 December 2000 of the agreement with Securitas
Capital whereby the Group's European life assurance operations, principally in
Italy, are injected into a joint venture company in which the SJPC Group
retains a minority one third interest.


Re: Directorate

As a result of the completion of the above transaction, SJPC announces that Mr
Paul Bradshaw has resigned as an executive Director of SJPC with effect from 5
December 2000 in order for him to concentrate on his role as Chief Executive
Officer of the new joint venture company, Nascent.