For immediate release: Thursday 30 April 1998

AUTIF ANNOUNCES NEW APPOINTMENTS TO ITS EXECUTIVE COMMITTEE

The Annual General Meeting of the Association of Unit Trusts and Investment Funds (AUTIF) yesterday formally elected 7 new Executive Committee members.

Britannia, Fidelity, Hendersons, Laurence Keen, Prudential, Scottish Widows and Standard Life replace those retiring by rotation, Framlington, LGT, M& G, Mercury and Portfolio.

For further comment please contact:

Lewis McNaught, Chairman, 0171 782 2408
Philip Warland, Director General, AUTIF, 0171 831 0898
Anne McMeehan Director of Communications, AUTIF, 0171 831 0898
Sheila Nicoll, Director of Legal & Fiscal, AUTIF, 0171 831 0898

Notes to Editors:

1. The full Executive Committee now comprises the following: Aberdeen Prolific, Barclays, Britannia, Commercial Union, Fidelity, Gartmore, Hendersons, Laurence Keen, Lazards, Midland, Perpetual, Prudential, Scottish Widows, Standard Life, Threadneedle.

2. AUTIF represents 133 unit trust companies covering 98% of the industry’s funds under management.