Directorate Change

St. James's Place Capital PLC
17 February 2006

Re: Directorate



St. James's Place Capital plc ('SJPC'): non-executive board changes



SJPC announces a number of changes to the non-executive directors of SJPC
appointed by HBOS plc.



James Crosby will resign as a non-executive Director with effect from 31 May
2006 and Andy Hornby will replace him on the SJPC board from that date.  In
addition, John Edwards will resign as a non-executive director of SJPC on 31 May
2006 in light of his new commitments at HBOS and he will be replaced on the SJPC
board by Jo Dawson from that date.



Andy Hornby is currently Chief Operating Officer at HBOS plc and, as recently
announced by HBOS, will succeed James Crosby as Chief Executive of HBOS plc with
effect from 31 July 2006.  He joined the Board of Halifax plc as Chief
Executive, Halifax Retail in 1999, having previously held senior positions at
Blue Circle and Asda and became Chief Executive of the Retail Division of HBOS
plc following the merger of Bank of Scotland and Halifax in September 2001.  He
was appointed Chief Operating Officer of HBOS on 1 July 2005.  He is also a
non-executive director of GUS plc.



Jo Dawson is currently Group Risk Director at HBOS plc and, as recently
announced by HBOS, will become Chief Executive, Insurance and Investment, from 1
March 2006 and will join the HBOS Board on 1 May 2006.  She joined Halifax in
June 2000 as General Manager, Retail Sales, having held senior positions at Nat
West and Green Flag, and became Group Risk Director in early 2005.



There are no circumstances to be disclosed in accordance with Listing Rule
9.6.13R(2) - (6) for Andy Hornby or Jo Dawson.



Mike Wilson, Chairman, commented: 'We are delighted to welcome Andy and Jo to
the Board and wish to thank James for his outstanding contribution to the Board
over the years'.


Enquiries:     Mike Wilson, Chairman                 Tel: [phone]
               Anita Scott, Brunswick                Tel: [phone]






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