On 6th February, the Z/Yen Group sold Z/Yen Limited to McLagan Partners, Inc.

Z/Yen Limited is the company that undertakes cost per trade, operational performance of brokers and clients, processing of corporate actions, brokerage costs, and settlement and custody fees surveys in the Financial Services Sector. Jeremy Smith and his entire team will continue to undertake that work within McLagan Partners, where the linking of these Z/Yen products with McLagan Gauge surveys should provide clients with better analysis and integrated data collection.

All other types of work undertaken by the Z/Yen Group will be unaffected by this change.

The sale of Z/Yen Limited makes strategic and operational sense for McLagan Partners and for the Z/Yen Group; we are jointly delighted with this outcome. Z/Yen Limited will continue its business under the name "Z/Yen" for the foreseeable future and will remain at 5-7 St Helen's Place for the time being.

If you have any questions about this matter, please call or e-mail Ian Harris or Michael Mainelli; +44 207-562-9562.