Chief Executive's Contract

RNS Number:0841S
Evolution Group PLC
14 November 2003


14 November, 2003


                            The Evolution Group Plc


                       Chief Executive's service contract
                      and long term incentive arrangements


The Evolution Group Plc ("Evolution", the "Group"), the investment bank and
retail fund management group, announces that it has today formalised the
arrangements with the Group's Chief Executive, Alex Snow, with respect to the
establishment of a formal service contract.


Previously, Mr Snow was subject to informal arrangements made at the time of his
original employment with the Group in May 2000. The Remuneration Committee of
Evolution has considered the establishment of formal arrangements, securing an
appropriate notice period and other terms as an absolute imperative.


The Remuneration Committee has established a Long Term Incentive Plan for Mr
Snow. Mr Snow will be awarded, under the terms of the 2002 Executive Share
Incentive Plan, up to 6 million Evolution shares in the form of options at 1p
per share in three equal tranches. The first tranche of 2 million shares, in
recognition of the establishment of the service contract outlined above, is to
be awarded immediately although Mr Snow is restricted from selling any shares he
acquires until the announcement of the interim results for the period to 30 June
2004. The second and third tranches will be made in respect of the Group's
performance for the full years in 2004 and 2005. These two awards, which are
subject to strict Group earnings per share growth performance criteria - being a
growth of 15% per annum over the annualised first half 2003 earnings per share
of 1.34p announced in the Group's interim results on 3 September 2003 - will be
confirmed at the time of the announcement of Evolution's results for these
periods in April 2005 and April 2006 respectively. Further details of the above
will be included in the Remuneration report in the Report and Accounts for the
year ended 31 December 2003 which will be circulated to shareholders in April
2004.

                                      ENDS

For more information, please contact:

The Evolution Group Plc (www.evolution-group.com)
Graeme Dell, Finance Director                                    020 7071 4300

Hogarth Partnership Limited

Andrew Jaques/ Georgina Briscoe                                  020 7357 9477



                      This information is provided by RNS
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