Re Agreement

17th Oct 2006 12:04

St. James's Place PLC17 October 2006 St. James's Place reinforces its focus on wealth management St. James's Place (SJP) today announces it has entered into an agreement withHome of Choice Group Ltd (HoC), the specialist mortgage network, whereby SJP hasagreed to offer 99 members of the SJP Partnership (the self employed financialadvisers of SJP), who specialise in providing mortgage-linked advice, theopportunity to join HoC as appointed representatives. HoC has agreed to providethe 99 Partners with enhanced terms if they join. This move enables SJP to reinforce its focus on wealth management as its corebusiness. The 99 Partners generated only 1.2% of SJP Group APE in the sixmonths to 30 June 2006 and consequently this transaction will not materiallyimpact the Group's 2006 results. SJP will continue to provide support andservicing to Partners transacting mortgage business as part of the overallwealth management proposition. Mark Lund, Chief Executive of SJP commented: "St. James's Place continues to bethe natural home for advisers concentrating on providing face to facecomprehensive wealth management advice. We are pleased that we have been ableto offer the Partners who specialise in the mortgage market an excellent homewith HoC". Enquiries: Anita Scott/Nitya Bolam Brunswick 020 7404 5959 Notes to editors 1. The size of the SJP Partnership as at 31 December 2005 was 1148 and as at 30 June 2006 was 1170. Re-based to exclude the 99 Partners those figures would have been 1049 and 1071 respectively. 2. APE (Annual Premium Equivalent) is calculated in accordance with the life assurance industry convention by adding together new regular premiums and one-tenth of single premiums and unit trust sales (APE). 3. SJP Group APE for the six months to 30 June 2006 was £160.9m. 4. There are no gross assets attributable to the 99 Partners being offered the opportunity to transfer to HoC as part of this transaction. This information is provided by RNS The company news service from the London Stock Exchange

---

Related Shares:

St James's Place