Acquisition

RNS Number:6034D
Syndicate Asset Management PLC
11 September 2007

11 September 2007

Syndicate Asset Management plc acquires 35% interest in Combimeer

Syndicate Asset Management PLC ('SAM') via its wholly owned subsidiary Ashcourt
Holdings Ltd has acquired a 35% interest in Combimeer, the Dutch financial
services firm, for a consideration of Euro758,000 in cash, payable in full on
completion. The shares are being acquired from a number of parties including
Equity Pre-IPO Investments Ltd, an AIM listed company one of whose directors
Jonathan Freeman is also a director of SAM.

SAM's intention is to acquire the remaining shares after January 2009. In the
year to 31 December 2006 Combimeer made an unaudited pre tax profit of Euro173,361.
Combimeer have approximately Euro40m of funds under advice part of which are
already managed by Ashcourt Asset Management Ltd.

John Morton will join the Board of Combimeer together with the existing
directors Karel and Marjolijn Jagtenberg.

This investment underlines SAM's intention to develop its distribution into new
geographical markets through experienced local partners.

With the exception of Jonathan Freeman, who has an involvement in the
transaction as a related party, SAM Directors, having consulted with their
nominated adviser, believe that the terms of the transaction are fair and
reasonable in so far as shareholders are concerned.


For further information please contact:

Syndicate Asset Management plc Tel: [phone]
John Morton (Chief Executive Officer)
David Pinckney (Chairman)

Landsbanki Securities (UK) Limited Tel: [phone]
Mark Dickenson
Fred Walsh

Flagship Consulting Limited Diana Soltmann
(PR adviser to SAM) Tel: [phone]




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

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