For immediate release: Thursday 2 November 2006

ISA ANNOUNCEMENT EXCELLENT NEWS FOR INVESTORS AND INDUSTRY

Responding to yesterday’s announcement by the Economic Secretary, Ed Balls, Richard Saunders, Chief Executive of the IMA commented:

“We warmly welcome the news that the Government intends to make ISAs a fixed part of the savings landscape. ISAs have been a hugely successful savings vehicle and IMA has long sought a more permanent and simplified regime. The moves to bring PEPs into the ISA wrapper and the removal of the mini/maxi distinction will go a long way to achieve this, and we look forward to more detailed proposals from the Government and to helping to get them right to ensure genuine simplicity for both managers and investors.”

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For further information, please contact:
Helen Stephenson, Communications Officer, IMA, 020 7831 0898

Out of hours contact:
Mona Patel, Head of Communications, IMA, 07834 089332