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Gerrard Bank Wins Offshore Award For On-Line Service

Investors Offshore, London

17 May 2002

At the 2002 International Investment Offshore Fund and Product Awards ceremony in London yesterday, Gerrard Private Bank won awards for "Best Offshore Banking Group" and "Best Offshore Bank Product" for its Focus service, a fully integrated banking and investment package.

Greg Horton, Managing Director was presented with both awards by Sir Geoff Hurst, the celebrity presenter, along with Craig Woolstencroft, Managing Director of the Mainstream Media Limited and James Tew, European Head of Research for Standard & Poor's.

Mr Horton commented "We are absolutely thrilled to win these prestigious awards for the second year running and against such strong competition in the offshore banking world. We believe that we offer a first class product range and service to our clients and it is heart warming to have this endorsement by such an eminent, independent review panel of such standing." In 2001 the company won "Best Product Range" in the Banking category.

This year, Focus has been made available as an online service. "This has proved very popular especially with our clients based internationally. Our product range is specifically designed to meet the changing needs of our clients and we are gaining a growing reputation for innovation in this regard. We always encourage communication from our clients so that we can identify their changing needs and design products and services to meet these." added Mr Horton.

Gerrard Private Bank forms part of a joint venture between Nedcor and its parent company, Old Mutual plc, one of the world's major financial services groups.

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