Disposal

RNS Number:4768N
Seymour Pierce Group PLC
11 July 2003

Issued on behalf of Seymour Pierce Group Plc Date: 11 July 2003



FOR IMMEDIATE RELEASE


Seymour Pierce Group Plc

Seymour Pierce Group Plc ("the Company") - Completion of the disposal of the
investment banking division ("Investment Banking") and board changes

The Company announces that regulatory change of control approval has been
received and completion of the disposal of Investment Banking has taken place
today.

As announced on 11 April 2003 Investment Banking has been disposed of to Alchemy
Partners and a management team led by Keith Harris and Richard Feigen.
Investment Banking comprises the corporate finance, corporate broking,
institutional sales, research and trading, and private client stockbroking
businesses of Seymour Pierce Limited and Seymour Pierce Ellis Limited and under
the terms of the transaction, the name Seymour Pierce and all rights to the
trading name have been transferred.  A resolution proposing a change of name for
the Company will be put to shareholders in due course.



As part of the completion arrangements, Richard Feigen has resigned from his
current role as executive director of the Company from today. The Board wishes
to thank Richard for the significant contribution he has made to the Company
over the last five years.



In addition, Keith Harris steps down from his current role as Executive Chairman
of the Company but remains on the Board as non-executive Chairman.



Enquiries:

Jeremy Garrett-Cox                  ING                          020 7767 1000
David Bick/Chris Steele             Holborn Public Relations     020 7929 5599



ING Bank (London Branch) N.V., which is regulated in the United Kingdom by The
Financial Services Authority, is acting exclusively for Seymour Pierce Group Plc
and no one else in connection to the matters described in this announcement and
will not be responsible to anyone other than Seymour Pierce Group Plc for
providing the protections afforded to its customers or for providing advice in
relation to the contents of this announcement or any transaction or arrangement
referred to herein.


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