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17 June 2010

Sir David Michels appointed Chairman Fast growing wealth manager London & Capital confirmed today the appointment of Sir David Michels as Chairman. Presently Deputy Chairman of Marks & Spencer and Easyjet, Sir David is ideally placed to guide London & Capital through its next period of growth, with the Company set to celebrate 25 years in the wealth management business in 2011. In his new role Sir David will work closely with the Partners of the firm and the Senior Management Team to help shape the Company’s future growth plans. Sir David will be helping to grow the firm’s increasingly global distribution into new areas and markets over the next 3-5 years including expansion across the US and Asia. In addition, Sir David’s corporate experience and business acumen will help him to reinforce London & Capital’s already significant presence in the institutional market. Commenting on his appointment, Sir David said: “I have known and worked with London & Capital for a number of years now and am delighted to accept this new role. London & Capital has shown throughout the credit crunch that well run, independent wealth management companies have retained and looked after their client banks more successfully than many of the larger institutions. I look forward to drawing upon my broad expertise in the business world to help develop the Company and widen its wealth management proposition into new sectors and territories over the coming years.” Joint Managing Directors, Daniel Freedman and Richard Leigh, are delighted to have secured Sir David’s services and are keen to start working together. Freedman commented: “We have been managing client assets during the extreme turmoil of the past few years and in doing so we have proved the robust nature of both our business model and investment process. We have worked with David for many years and he brings a clear and focused business approach with a strong understanding of the importance of key business drivers. David brings a fresh view to financial services and wealth management with his experience coming mainly from industry, but he also has considerable experience of working with investment companies on a global basis. A highly respected businessman, he also brings tremendous credibility as well as contacts in the institutional world, which will help the development of London & Capital in the coming years.” LONDON & CAPITAL MARKS CORPORATE AMBITION../2 Whilst Sir David has spent much of his long and illustrious hotel career with Ladbroke and Hilton, he is also a Non-Executive Director of Strategic Hotels & Resorts in the US as well as the Jumeirah Hotel Group in Dubai. Previously, he held Non-Executive roles with British Land PLC, specialist asset management firm RAB Capital PLC and Abingdon Capital Trust. - ENDS -

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