Termination of Management Contract

15 Mar 2005 16:09

iimia Investment Group plcCompany Announcement - Termination of Management ContractExeter Asset Management resigns as manager to Exeter Financials FundExeter Asset Management Limited (¢â‚¬ËœEAM¢â‚¬â„¢), a wholly-owned subsidiary of iimia Investment Group plc (¢â‚¬ËœiIG¢â‚¬â„¢), announces that it has agreed the termination of its investment management contract with Exeter Financials Fund Limited (the ¢â‚¬ËœFund¢â‚¬â„¢) and that it has entered into an agreement with New Star Asset Management (¢â‚¬ËœNew Star¢â‚¬â„¢) in relation to the acquisition by New Star of the rights to manage the assets of the Fund.New Star has agreed a payment to EAM in consideration of the release of the Fund from its existing management contract. iIG does not expect there to be a material impact on earnings as a result of this change during its current financial year.Copies of this announcement are available from the Registered Office of the Company for a period of fourteen days from the date hereof.ENDIIMIA INVESTMENT GROUP PLC