Redemption of Share Capital

St. James's Place Capital PLC
20 December 2002


St. James's Place Capital plc ('SJPC')
Redemption of share capital

Shareholders will no doubt recall that the share capital of the Company includes
one Special Rights Redeemable Preference Share of £1 (the 'Special Share'),
which is held by the J. Rothschild Name Company Limited (the 'Nameco').  The
Special Share is designed to protect the reputation of the 'J. Rothschild' name.
In accordance with an agreement with Nameco entered into in 2000, the St.
James's Place Group ceased to use the J. Rothschild name earlier this year and
accordingly the Special Share is no longer required.

Following a request from Nameco and in accordance with SJPC's Articles of
Association, SJPC has redeemed the Special Share previously held by Nameco at
its par value of £1 out of distributable profits.


                      This information is provided by RNS
            The company news service from the London Stock Exchange