Re Agreement

St. James's Place Capital PLC
12 April 2001


ST. JAMES'S PLACE CAPITAL PLC ('SJPC')
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SJPC announces GS Capital Partners 2000 to take stake in Nascent Group

SJPC announces that GS Capital Partners 2000 is to become a shareholder in
Nascent Group SA ('Nascent'), the European financial services group headed by
Paul Bradshaw, in which SJPC has a one third shareholding, subject to
appropriate regulatory approvals.

GS Capital Partners 2000, funds affiliated with The Goldman Sachs Group, Inc.,
is to acquire approximately 20% of the Nascent SA committed share capital as a
result of an agreement reached with SJPC and Nascent's other external
shareholder, Securitas Capital (a private equity fund sponsored by Swiss Re)
and Nascent Group's management.  As a result of this transaction the
shareholding in Nascent which SJPC holds or controls will reduce from
approximately 33% to 26%.


It has always been the intention of the Nascent management team and its two
founding shareholders to identify a third shareholder.  Nascent will benefit
from the experience, expertise and capabilities available to it through GS
Capital Partners 2000.

With the support of its powerful and committed shareholder base, the new
shareholding structure will enable Nascent to build on its success in Italy,
and also develop its business in other European markets.

Richard Sharp, Managing Director of Goldman Sachs International, says:

'GS Capital Partners 2000 is delighted to have reached agreement to acquire a
significant stake in Nascent Group.  It is clear that Europe's financial
services markets are developing and internationalising rapidly, and we are
confident that Nascent has the imagination, dynamism and resources to exploit
what will be a period of exceptional opportunity.'

Paul Bradshaw, CEO of Nascent Group SA, says:

'Nascent SIM, under the leadership of Patrizia Misciattelli, has made an
excellent start in the Italian market since it was launched in July 2000.  We
see no reason why equally well-positioned businesses, with similarly dynamic
and ambitious managements, cannot prove equally successful elsewhere in
Europe.  I hope to announce further European launches in due course.'

 
Sir Mark Weinberg, Chairman of St. James's Place Capital, says:  

'We had been looking for a further partner to strengthen our position in
Italy.  The link with GS Capital Partners 2000 not only fulfils that aim but
greatly enhances our ability to develop a successful financial services
operation elsewhere in Europe.' 


Enquiries
Nitya Bolam, Brunswick - 0207 404 5959

Nigel Frudd, Managing Director, Nascent Group SA - 0793 1511920