B.p Marsh Regulatory News (BPM)

2 September 2019

B.P. Marsh & Partners Plc

("B.P. Marsh", "the Company" or "the Group")

Investee Company Update - LEBC Holdings Limited

B.P. Marsh & Partners Plc (AIM: BPM), the specialist investor in early stage financial services businesses, provides an update regarding its investee company LEBC Holdings Limited, in which it holds a 59.3% shareholding. LEBC Holdings Limited is the parent company of LEBC Group Limited ("LEBC") the UK IFA business.

As part of its market-wide review of the defined benefit ("DB") transfer market, the FCA has undertaken a review of LEBC focused on the division of the business that provides DB pension transfer advice.

Following this, LEBC has agreed voluntarily to cease the provision of DB pension transfer advice and projects, forthwith.

In line with its successful long-term investment strategy, B.P. Marsh will continue to support LEBC as it evolves its business, which provides a range of financial solutions, for the benefit of its customers, staff and shareholders.

The Company has assessed the potential impact of this decision on the overall net asset value of the Group. Although the current situation will reduce LEBC's valuation, LEBC are working on a number of initiatives, some of which have already been implemented. The Group will work closely with LEBC's management team to return LEBC to the position it was in before the FCA review. B.P. Marsh has a diverse portfolio and the strong performance delivered by a number of its investee companies in recent months means that the Board believes that the Company will emerge in a satisfactory position under the circumstances as regards its financial results for the six months ended 31 July 2019.

The half year results will be released on Tuesday 15 October 2019 and the Company will provide a trading update in early September 2019 in advance of this.

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014.

For further information:

B.P. Marsh & Partners Plc www.bpmarsh.co.uk

Brian Marsh OBE

Nominated Adviser & Broker +44 (0)20 7886 2500

Panmure Gordon

Atholl Tweedie / Erik Anderson / Ailsa Macmaster

Public Relations +44 (0) 20 3757 6880

Newgate Communications BPMarsh@newgatecomms.com

Elisabeth Cowell / Alistair Kellie

Notes to Editors:

About B.P. Marsh & Partners Plc

B.P. Marsh's current portfolio contains nineteen companies. More detailed descriptions of the portfolio can be found at www.bpmarsh.co.uk.

Since formation over 25 years ago, the Company has assembled a management team with considerable experience both in the financial services sector and in managing private equity investments. Many of the directors have worked with each other in previous roles, and all have worked with each other for at least five years.

Prior to Brian Marsh's involvement in the Company, he spent many years in insurance broking and underwriting in Lloyd's as well as the London and overseas market. He has over 30 years' experience in building, buying and selling financial services businesses, particularly in the insurance sector.

Alice Foulk joined B.P. Marsh in September 2011 having started her career at a leading Life Assurance company. In 2014 she took over as Executive Assistant to the Chairman, running the Chairman's Office and established herself as a central part of the management team.

In February 2015 she was appointed as a Director of B.P. Marsh and a member of the Investment Committee. In January 2016 Alice was appointed Managing Director of B.P. Marsh.

In her position as Managing Director, Alice is responsible for the overall performance of the Company and monitoring the Company's overall progress towards achieving the objectives and goals of the Company, as set by the Board.

Dan Topping is the Chief Investment Officer of B.P. Marsh, having been appointed as a Director in 2011. He joined the Company in February 2007, following two years at an independent London accountancy practice. Dan is the Senior Executive with overall responsibility for the portfolio and investment strategy of B.P. Marsh.

Dan graduated from the University of Durham in 2005 and is a member of the Securities and Investment Institute and the Institute of Chartered Secretaries and Administrators.

Dan is a standing member of the B.P. Marsh Investment and Valuation Committees and currently serves as a Board Director across the portfolio.

Jonathan Newman is a Chartered Management Accountant and is the Group Director of Finance and has over 20 years' experience in the financial services industry. Jon graduated from the University of Sheffield with an honours degree in Business Studies and joined the Group in November 1999, following two years at Euler Trade Indemnity and two years at a Chartered Accountants. Jon is a Member of the Chartered Global Management Accountants, the Chartered Management Accountants and the Chartered Institute of Securities and Investment.

Jon was appointed a Director of B.P. Marsh & Company Limited in September 2001, and Group Finance Director in December 2003 and was instrumental in the admission of the Group to AIM in February 2006. Jon is a member of the B.P. Marsh Investment and Valuation Committees and currently serves as a Nominee Director on the Boards of three Investee Companies, and provides senior financial support and advice to all companies within the Group's portfolio as well as evaluating new investment opportunities.

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