LONDON, April 29, 2002 (PRIMEZONE) -- On March 11 it was announced that Beeson Gregory Group plc ("Beeson Gregory") had entered exclusive negotiations for the acquisition from Old Mutual plc ("Old Mutual") of Old Mutual Securities Ltd. ("Old Mutual Securities"). These discussions have now been terminated by mutual agreement.
Old Mutual Securities is a strong business, with a powerful brand and excellent individuals in all areas of its business. Old Mutual remains committed to finding the appropriate means of securing its continued development, whether that is within Old Mutual or as part of another group.