direct/ Eureko B.V. (NL) - Eureko to Sell Part of F&C Shareholding to Focus on Core Markets

Eureko B.V., which currently has approximately a 19.6% shareholding in F&C Asset Management plc, has today announced that it intends to sell up to 44 million ordinary shares, which represents approximately 9.1% of the outstanding F&C share capital. The disposal is driven by Eureko´s strategic focus on its development in Central/Eastern Europe, and a decision to re-allocate some of its capital to further expansion in those markets. Specifically, it will use some of the capital realised from the sale of F&C shares to partially fund the recently-announced acquisition of insurance businesses in Turkey, from Garanti Bank.

Eureko´s relationship with, and strategic commitment to, F&C will be unaltered; there will be no change to the investment management contracts with Eureko Group companies, which are subject to long-term mandates. These mandates run at least until 2014 and operate well. Eureko remains a key investor in F&C and is currently its second-largest shareholder.

In addition to the on-going long term contract with F&C, Eureko intends to retain its seat on the Board of F&C. Further, there will be a lock-up of 12 months for the remaining F&C shares retained by Eureko, subject to certain exceptions. Eureko is strongly supportive of F&C´s recently adopted three-year growth plan.

F&C will participate in a roadshow to market the offer which, if successful in full, upon completion, will result in an increased F&C free-float. The twin benefits for F&C are that the core shareholder structure remains in place, and that there will be improved liquidity, giving an opportunity to broaden F&C´s investor base.

Ends
Zeist
17 May 2007

Morgan Stanley is acting as adviser and book runner to Eureko on the transaction.

For further information, contact,

At Eureko:
Lorrie Morgan (Intl media)
Tel: +31 30 693 7065
Mobile: +31 654 93 72 72

Marco Simmers (Dutch media)
Mobile: +31 653 43 87 18

Barth Scholten (Investor Relations)
Tel: +31 30 693 7051

At F&C:
Jason Hollands:
Tel: +44 20 7011 4168
Mobile: +44 7768 661 382

This announcement has been issued by Eureko and is the sole responsibility of Eureko.

Morgan Stanley & Co. International plc is acting for Eureko and no-one else in connection with the placing of the F&C shares and will not be responsible to anyone other than Eureko for providing the protections afforded to its clients nor for providing advice in relation to the placing or any other matter referred to in this announcement.

This announcement is for information purposes only and does not constitute an offer or an invitation to acquire or dispose of any securities or investment advice in any jurisdiction.

This announcement does not constitute an offer to sell or issue or the solicitation of an offer to buy or subscribe for securities in the United States, Australia, Canada or Japan or to US Persons, (as defined under Regulation S of the US Securities Act of 1933) or to Australian, Canadian or Japanese Persons or any jurisdiction in which such offer or solicitation is unlawful.

This announcement is not for publication or distribution or release in the United States. The shares in F&C Asset Management plc referred to in this announcement have not been, and will not be, registered under the US Securities Act of 1933 and may not be offered or sold in the United States absent registration or an exemption from registration. There will be no public offering of the securities referred to in this announcement in the United States.


pdf version press release
http://hugin.info/133916/R/1127472/209651.pdf

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