The Bank of New York Selected by Capita Financial Group to Provide Trustee, Depositary and Custody Services

The scope of the agreement involves approximately $21 billion ofassets which represents about 85% of Capita Financial's current assetsunder administration. The Bank of New York will also providetechnology and servicing infrastructure to enhance Capita Financial'sposition as the UK's ACD and UTM solutions provider of choice.

Keith Marsden, Chief Executive Officer of Capita Financial Group,said, "The Bank of New York consistently demonstrated that itunderstands the complexity of the servicing requirements of ourclients and that the safety of our funds' assets is of paramountimportance. By consolidating contracts with a reduced number ofsuppliers we have enhanced the value for money our funds receive fromour trustee, depositary and custodial arrangements. With The Bank ofNew York, I believe we have identified a strategic partner who cansupport the growth of our business, allowing us to fully focus on corecompetencies including business-processing standardisation and anyresulting cost efficiencies."

Tim Keaney, head of Europe at The Bank of New York, continued, "Weare very pleased to have been awarded this mandate which underlinesthe quality of the service we have provided to Capita Financial in thepast. This is a very important mandate for us as the Capita Group Plcis the UK's leading business process outsourcing company providingadministration and customer services to a wide range of clients,including to a broad spectrum of fund managers, and we are lookingforward to working with them as a partner to support their business."

The Bank of New York Company, Inc. (NYSE: BK) is a global leaderin providing a comprehensive array of services that enableinstitutions and individuals to move and manage their financial assetsin more than 100 markets worldwide. The Company has a long traditionof collaborating with clients to deliver innovative solutions throughits core competencies: securities servicing, treasury management,investment management, and individual & regional banking services. TheCompany's extensive global client base includes a broad range ofleading financial institutions, corporations, government entities,endowments and foundations. Its principal subsidiary, The Bank of NewYork, founded in 1784, is the oldest bank in the United States and hasconsistently played a prominent role in the evolution of financialmarkets worldwide. Additional information is available atwww.bankofny.com.

Capita Financial Group, which includes Capita FinancialAdministrators Limited and Capita Financial Managers Limited, deliverscost effective, sophisticated and proven administration solutions forinvestment managers of collective investment schemes. Capita FinancialManagers Limited also provides authorised corporate director (ACD) andUnit Trust manager services. Capita Financial Administrators Limitedand Capita Financial Managers Limited currently work with over 100clients, with approximately GBP 15bn funds under administration.Capita Financial Administrators Limited and Capita Financial ManagersLimited are authorised and regulated by the Financial ServicesAuthority.

The Capita Group Plc is the UK's leading provider of integratedprofessional support service solutions. The Group's servicecapabilities encompass customer services, financial services, humanresource services, software services, systems and strategic supportand property services delivered to both public sector and privateorganisations. With over 23,000 employees at more than 230 officesacross the UK and Ireland, Capita is quoted on the London StockExchange (CPI.L), and is a constituent of the FTSE100 with revenuesfor 2004 of GBP 1,285 million. Capita has secured a number of awardsincluding Best BPO Services Provider 2004. Further information on TheCapita Group Plc can be found at www.capita.co.uk