Offer Update

RNS Number:5229Q
Aberdeen Asset Management PLC
03 October 2003


                                 3 October 2003

This announcement is not for release, publication or distribution in or into or
from the United States, Canada, Australia, New Zealand or Japan.


              Recommended Offer by Ernst & Young LLP on behalf of

                         Aberdeen Asset Management PLC

                     for Edinburgh Fund Managers Group plc


In connection with the announcement made on 5 September 2003 of an offer (the "
Offer") by Ernst & Young LLP on behalf of Aberdeen Asset Management PLC ("
Aberdeen") for the whole of the issued and to be issued ordinary share capital
of Edinburgh Fund Managers Group plc ("Edinburgh"), the board of Aberdeen
announces that the Offer Document, Circular, Listing Particulars and Form of
Acceptance relating to the Offer are today being posted.

The Offer, which is recommended by the board of Edinburgh, will initially be
open for acceptance until 3.00 p.m. (London Time) on 24 October 2003. The Offer
Document contains a notice convening an Extraordinary General Meeting of
Edinburgh for 12 noon on 21 October 2003 at which Edinburgh Shareholder approval
for the arrangements between New Star and BT Pension Scheme (details of which
are set out in the Offer Document) will be sought.  The Circular contains a
notice convening an Extraordinary General Meeting of Aberdeen for 11.00 a.m. on
20 October 2003 at which Aberdeen Shareholder approval for the Offer will be
sought.

Terms defined in the Offer Document and in the Circular and Listing Particulars
dated 3 October 2003 have the same respective meanings in this announcement.


Enquiries:

Aberdeen                 Martin Gilbert                  Tel: [phone]

Ernst & Young            John Stephan                    Tel: [phone]
                         Andrew Grace

Gavin Anderson           Neil Bennett                     Tel: [phone]
                         Mark Lunn


Copies of the Circular and the Listing Particulars have been submitted to the UK
Listing Authority and will shortly be available for inspection at the UK Listing
Authority's Document Viewing Facility, which is situated at:

Financial Services Authority
25 The North Colonnade
Canary Wharf
London E14 5HS

Tel: [phone]

Ernst & Young LLP has approved the contents of this announcement solely for the
purposes of section 21 of the Financial Services and Markets Act 2000. This
announcement does not constitute an offer or an invitation to purchase any
securities. Any such offer will only be made pursuant to the Offer Document and
the Form of Acceptance.

The Offer is not being made, directly or indirectly, in or into, or by the use
of the mails of, or by any means or instrumentality (including, without
limitation, the post, electronic mail or any electronic publication or
advertisement, facsimile transmission, telex and telephone) of interstate or
foreign commerce of, or any facility of a national securities exchange of, the
United States, nor is it being made in Canada, Australia, New Zealand or Japan
and the Offer will not be capable of acceptance by any such use, means,
instrumentality or facilities, or from within the United States, Canada,
Australia, New Zealand or Japan.  Accordingly, neither this announcement nor the
Offer Document nor the Form of Acceptance (or any related offering
documentation) is being, or may be, mailed or otherwise forwarded, distributed
or sent in or into or from the United States, Canada, Australia, New Zealand or
Japan for the purposes of the Offer and persons receiving this announcement, the
Offer Document or the Form of Acceptance (or any related offering documentation)
including custodians, nominees and trustees, must not mail or otherwise forward,
distribute or send them in or into or from the United States, Canada, Australia,
New Zealand or Japan for the purposes of the Offer as doing so may render
invalid any purported acceptance of the Offer.

The full terms and conditions of the Offer (including details of how the Offer
may be accepted) are set out in the Offer Document and the Form of Acceptance
accompanying the Offer Document. Edinburgh Shareholders who accept the Offer may
only rely on the Offer Document and the Form of Acceptance setting out the full
terms and conditions of the Offer and the related Listing Particulars. In
deciding whether or not to accept the Offer in respect of their Edinburgh
Shares, Edinburgh Shareholders should rely on the information contained, and
procedures described, in the Offer Document and the Form of Acceptance and the
information contained in the Listing Particulars.

Ernst & Young LLP, which is regulated in the United Kingdom by the Financial
Services Authority, is acting exclusively for Aberdeen and no one else in
connection with the Offer and will not be responsible to anyone other than
Aberdeen for providing the protections afforded to clients of Ernst & Young LLP
nor for providing advice in relation to the Offer.


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