26th Oct 2006 07:00
Standard Life plc26 October 2006 Standard Life plc Standard Life becomes minority shareholder in Simply Biz Standard Life announces that it has purchased a 10% shareholding in Simply Bizplc ('Simply Biz'), as part of the continued development of its distributionstrategy. Simply Biz is one of the leading UK based providers of financialcompliance services and of training and support services to financial advisers. Trevor Matthews, Chief Executive of Standard Life Assurance Limited said: "This is another important step in the ongoing development of our business andwe are delighted to be associated with a company of Simply Biz's standing in theindustry. Given the quality of their proposition, management team and trackrecord of delivery we believe this represents an excellent investmentopportunity. We believe that the future for Simply Biz is a bright one." Ken Davy, Executive Chairman of Simply Biz plc said: "I am particularly pleased to welcome Standard Life as a shareholder in SimplyBiz and believe this investment will enable us to strengthen our position as oneof the UK's leading providers of support services to financial advisers.Financial advisers increasingly recognise the value added by our independent andhighly professional approach. This investment demonstrates the quality of ourbusiness and will help us to achieve even greater success in the future." 26 October 2006 Enquiries: Gillian Bailey, Investor Relations, 0131 245 1110Danielle Pinnington, Press Office, 0131 245 0178Peter Timberlake, Press Office, 020 7872 4485 Note:As at 31 December 2005, the audited gross assets of Simply Biz were £12.0m. END This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
SLA.L