Re New Product

St. James's Place Capital PLC
30 January 2001



St. James's Place announces new products in a further move to provide full
private banking service

St. James's Place Group, wholly owned by St. James's Place Capital plc, plans
to launch a number of new products for distribution through its 1000 strong
St. James's Place Partnership, the group's sole marketing arm.  This
represents a significant step toward offering clients a complete wealth
management service.

The products are as follows:

*        The Clerical Medical Stakeholders Plan in both individual and group
         markets (available from 6 April 2001)

*        A St. James's Place branded Pension Investment Plan for higher net
         worth individuals offering investment in its normal range of multi-    
         manager active investment funds (available from 6 April 2001)

*        A complete range of Group Employee Benefit Plans underwritten by
         Swiss Life including group life, group critical illness and group      
         income protection (available from the 2nd quarter of this year)

*        A Portfolio Management Service provided by Laing & Cruickshank and
         Quilter & Co for clients who wish to have an individual portfolio of   
         shares

The ability of the Group to offer the Clerical Medical and Swiss Life products
is as a result of the relaxation of the polarisation rules by the FSA.

These new products complement the new services brought out for the Partnership
over the past year - a Mortgage Advisory Service representing a panel of
lenders and a Trust and Estate Planning Service operated in association with
Simmons and Simmons and Halliwell Landau.

Taken together with the plans to launch St. James's Place Bank, a division of
Halifax's Intelligence Finance, members of the St. James's Place Partnership
will be in a position to offer a full private banking service to their
clients.

Enquiries

Mike Wilson, Chief Executive                        Tel:  [phone]

Nitya Bolam, Brunswick                              Tel:  [phone]