16th Mar 2007 10:31
Aberdeen Asset Management PLC16 March 2007 Aberdeen Asset Management PLC ("Aberdeen") announces that it has reachedagreement with Real Estate Opportunities Limited ("REO") to settle Aberdeen'spart in the legal action initiated in 2005 by REO against Aberdeen and UBS. Aberdeen has made no admission whatsoever of any liability or of acceptance ofthe validity of REO's claim, but the Board has recognised that it is in the best interests of the Group and its shareholders to conclude this matter and to end the distraction it has caused to Aberdeen. The cost to Aberdeen, net of existing provisions and taxation, will beapproximately £30 million. Otherwise, the terms of the settlement agreement remain confidential between the parties. For further information, please contact: Maitland Neil Bennett 020 7379 5151 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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