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Warburg (S.G.) Group (WSGC)

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Friday 29 September, 2006

Warburg (S.G.) Group

Redemption of Perpetual Notes

Warburg (S.G.) Group PLC
29 September 2006

S.G. WARBURG GROUP plc ('the Company')

(Company Number: 1874486)

Redemption of the £125,000,000 9 per cent. Perpetual Subordinated Notes due 2024
                    (of which £8,337,000 remain outstanding)

                   ISIN XS0048887318      Common Code 004888731

London 29 September 2006.  The directors announced on 13 July 2006 their
intention to seek a members' voluntary liquidation of the Company.  To that end,
the directors have been considering appropriate proposals in relation to holders
of the 9 per cent. perpetual subordinated notes due 2024 issued by the Company
(of which £8,337,000 remain outstanding) (the 'Notes').

The directors have now resolved to redeem the Notes at 156.383% of their
principal amount (being the price determined in accordance with the formula set
out in Condition 5(a)(i)(y) of the trust deed governing the Notes) on 7 November
2006 in accordance with the terms and conditions governing the Notes.

As the Notes are in global form a notice of redemption has been sent to
Euroclear and Clearstream.  In accordance with the procedures operated by
Euroclear and Clearstream, trading in the Notes will cease at close of business
on 6 November 2006.

S.G. Warburg Group plc intends to apply to the UK Listing Authority and the
London Stock Exchange plc for the cancellation of both the official listing and
the admission to trading of the Notes with effect from the close of business on
7 November 2006.

Enquiries should be addressed for the attention of Dominik von-Arx on +44 (0)20
7568 2439.

John S Mitchell-Hewson
Joint Secretary

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

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