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Brewin Dolphin Hldgs (BRW)

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Wednesday 07 July, 2004

Brewin Dolphin Hldgs

Statement re Court Case

Brewin Dolphin Holdings PLC
07 July 2004

7 July 2004
                            Statement re Court Case

There has been recent publicity regarding a legal action brought by various
entities controlled by Mr CD Krishnani against companies in the Brewin Dolphin
group.   Brewin Dolphin's ability to comment on these actions is very limited
since it must observe the confidentiality of its client affairs, although the
dispute has now been raised in the Courts.

Brewin Dolphin seeks to recover debts approximating $700,000 arising from
trading which took place up to June 2000.   The clients have made various
allegations against Brewin Dolphin, quoting their total gross losses of £30
million.   It should be noted that this amount does not incorporate the client's
profits on the accounts which were equivalent to around 90% of the losses.
Brewin Dolphin's legal advice is that these claims should be vigorously

It is the Board's view, based on legal advice,  that no significant liability
will arise, and adequate provision has been made for the costs of defence.
Brewin Dolphin's insurers have nevertheless been notified.

Brewin Dolphin has made every effort to resolve the complaints, including
seeking as early a trial date as possible.   The claimants have recently
indicated their intention not to pursue a number of these claims.   However the
trial has now been adjourned at the claimants' request and they have indicated
that they may again revise their allegations - there is no suggestion that these
will involve any alleged losses other than those already under review.

The clients concerned ceased trading through Brewin Dolphin in June 2000 so this
action has no impact on the group's current trading.


For further information contact:

Patrick Donovan / Anthony Kennaway                           +44 (0)20 7638 9571
Citigate Dewe Rogerson

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