Sale of Subsidiary

RNS Number:6389T
Aberdeen Asset Management PLC
23 December 2003



                               SALE OF SUBSIDIARY

Aberdeen Asset Management PLC has sold its wholly owned subsidiary, Northern
Venture Managers Limited ("NVM"), to the management of NVM.

The consideration to be received by Aberdeen comprises:

(i)    a pre-Completion dividend of #620,000;
(ii)   a cash payment of #128,700 at Completion; and
(iii)  a redeemable preference share in NVM which entitles Aberdeen
       to receive dividends equivalent to 17.5% of NVM's fee income earned from
       its present clients for each of the years ended 31 December 2004, 2005 
       and 2006, subject to a maximum aggregate dividend of #2,450,000.

NVM was purchased by Edinburgh Fund Managers Group plc, which is now owned by
Aberdeen, in June 2000. The disposal will reduce the assets under management of
the Aberdeen Group, as enlarged by the Edinburgh acquisition, by approximately
#150 million.

Enquiries:

Aberdeen Asset Management            Tel: [phone]
Martin Gilbert, Chief Executive

Gavin Anderson & Company             Tel: [phone]
Neil Bennett/Mark Lunn




                      This information is provided by RNS
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