Disposal

RNS Number:5688R
Aberdeen Asset Management PLC
31 October 2003

                 ABERDEEN ASSET MANAGEMENT PLC ("Aberdeen") AND
              NEW STAR ASSET MANAGEMENT GROUP LIMITED ("New Star")

    ABERDEEN COMPLETES SALE OF MANAGEMENT RIGHTS OF RETAIL FUNDS TO NEW STAR

Aberdeen is pleased to announce that it has today received payment from and
completed the sale to New Star of the rights to manage the retail unit trusts
and OEIC sub-funds ("Retail Funds") managed by subsidiaries of Edinburgh Fund
Managers Group plc ("Edinburgh") including those of its Edinburgh Portfolio
business.

As part of the arrangements relating to the recommended offer by Ernst & Young
LLP on behalf of Aberdeen for the whole of the issued and to be issued ordinary
share capital of Edinburgh, which was declared unconditional in all respects on
24 October 2003, Aberdeen agreed to procure the sale of the management rights in
respect of the Retail Funds to New Star. The sale is consistent with the
strategy set out at the time of the previous sale by Aberdeen to New Star in
February of this year.

Detailed information regarding the investment managers and the administration of
the Retail Funds will be sent out by New Star to intermediaries and unit holders
over the course of the next week.


For further information, please contact:

Aberdeen                            Tel: [phone]
Martin Gilbert

Gavin Anderson                      Tel: [phone]
Neil Bennett



NOTES TO EDITORS

New Star paid Aberdeen a consideration of #33 million (of which #27 million is
in cash and #6 million in A ordinary shares of New Star) for the management of
the Retail Funds, which amount to approximately #965 million of funds under
management.

The Retail Funds are:

Edinburgh Australasian Fund
Edinburgh European Fund
Edinburgh Financial Fund
Edinburgh Global Equity Fund
Edinburgh North American Fund
Edinburgh Pacific Fund
Edinburgh Safety First Fund
Edinburgh Technology Fund
Edinburgh Tokyo Fund
Edinburgh UK Absolute Alpha Fund
Edinburgh Fixed Interest Fund
Edinburgh UK Growth Fund
Edinburgh UK Income Fund
Edinburgh UK Smaller Companies Fund
Edinburgh American Portfolio
Edinburgh Asia Portfolio
Edinburgh European Portfolio
Edinburgh Fund of Funds Portfolio
Edinburgh Global Growth Portfolio
Edinburgh Managed Growth Portfolio
Edinburgh Monthly Income Portfolio
Edinburgh Performance Portfolio
Edinburgh Property Portfolio
Edinburgh UK Growth Portfolio

The Edinburgh subsidiaries involved are Edinburgh Unit Trust Managers Limited
and Edinburgh Portfolio Limited.



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