Statement re Panmure Gordon & Co plc

The Evolution Group Plc

23 September 2010

THE EVOLUTION GROUP PLC

For Immediate Release

Evolution Group Plc ("Evolution" or the "Company")

Statement regarding Panmure Gordon & Co plc ("Panmure Gordon").

The Board of Evolution Group notes the press speculation regarding a possible acquisition of Panmure Gordon by the Company.

There has been much speculation about consolidation within the sector in London and, in keeping with the Company's publicly stated policy, at any given time the Company has under consideration a broad range of options in relation to both its fund management and securities businesses, with a view to enhancing shareholder value.

The Company confirms that at the current time, one such option is a possible offer for Panmure Gordon. However, it should be emphasised, that the board's deliberations in relation to Panmure Gordon are at a very early stage and that no formal discussions have taken place between management of the Company and Panmure Gordon. The Company is keen to assess Panmure Gordon's upcoming trading results before determining whether there is any merit in taking its deliberations further.

At this stage, there can be no assurance that any offer will be made.

A further statement will be made as and when appropriate.

For Enquiries:

Evolution

Alex Snow, Chief Executive Officer 02070714300

Investor Relations

Charles Cooke, Director Merlin Financial 02077268400