For immediate release: Thursday 23 November 2006

IMA WELCOMES ISA ANNOUNCEMENT AS "GOOD NEWS FOR SAVERS"

Commenting on the Economic Secretary, Ed Balls' statement on ISAs today, Richard Saunders, Chief Executive of the IMA commented:

"Today's announcement that the Government will allow investors to move savings currently held in cash ISAs into the stocks and shares component, without penalty, is most welcome. This is good news for savers who have built up sufficient precautionary savings in cash and who wish to access the potential returns of the stock market over the longer term."

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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