Bigblu Broadb. Regulatory News (BBB)

1 Apr 2005 16:26

Berkeley Berry Birch PLC01 April 2005 BERKELEY BERRY BIRCH PLC: REGULATORY INVESTIGATION On 10 June 2004, Berkeley Berry Birch plc ("BBB") announced that the FinancialServices Authority ("FSA") had appointed investigators to undertake a formalreview of the liquidation of Berry Birch & Noble Financial Services Limited ("BBNFS") and the immediately preceding purchase of the business of BBNFS by Berry Birch & Noble Financial Planning Limited in March 2004 (the "Acquisition"). On 30 March 2005, BBB received notice that the FSA had appointed investigatorsinto the alleged conduct of Michael Cleary, the sole director of BBNFS at thetime of the Acquisition and a director of BBB, in respect of his role inrelation to the Acquisition The appointment of investigators does not mean that the FSA has determined thatrule breaches and/or other contraventions have occurred. There is no definitivetimescale for this process and, as with the FSA's investigation into theAcquisition itself, BBB and Mr Cleary remain committed to working closely withthe FSA. The Directors remain confident in the outcome of the investigation. For further information please call: Clifford LockyerChairman and Chief Executive Officer07967 680565 This information is provided by RNS The company news service from the London Stock Exchange