Morley Fund Management adds to research team

Article date: 19 March 2001

Morley Fund Management is pleased to announce two appointmentsthat initiate biotechnology/healthcare research, on both sides ofthe Atlantic. Richard Purkiss will be based in London and HenryAstarjian based in Boston. Both analysts will report to DonaldTosh, Head of Corporate Research.

Prior to joining Morley Fund Management, Richard Purkissqualified in Medicine and completed a PhD from the UCL MedicalSchool. Most recently he completed an M.B.A. at Imperial College.In the new role Richard will focus on the Pan-Europeanbiotechnology and healthcare sectors.

Henry Astarjian brings 15 years of investment experience to therole. Prior to joining the Boston office he worked for Fidelity andmost recently, Gannett, Welsh & Kotler, a Boston based moneymanager. In his new role Henry will be a responsible for coveringbiotechnology and pharmaceutical industries, as well as otherhealthcare sectors.

Commenting on the appointments, Donald Tosh, Head of CorporateResearch, said:

"These appointments, which build on our expanding analyst team,reflect our considerable commitment to research at Morley. BothHenry and Richard have extensive experience in thebiotechnology/healthcare sector and will be valuable members of theteam; we look forward to working with them."


For further information please contact

Morley Fund Management

Donald Tosh, Head of Corporate Research
020 7809 8209

Penrose Financial

Gay Collins/Caroline Deutsch - 020 7786 4888

Notes to Editors

Morley Fund Management is an independently managed, Londonbased, asset management business with £106 billion undermanagement. It has investment professionals based in Boston, Tokyo,Singapore and Dublin.

Morley is a wholly owned subsidiary of the CGNU Group andmanages institutional funds under the Morley brand. It also acts asinvestment manager for a range of retail investment funds, marketedunder the Norwich Union brand.

CGU plc and Norwich Union plc merged on 30 May 2000 to createCGNU plc, the UK's largest insurance group and one of the top-fiveinsurers in Europe with substantial positions in other marketsaround the world, making it the world's sixth largest insurer basedon gross worldwide premiums.

From October 2000, the combined life and pensions, generalinsurance and retail fund management businesses in the UK operateunder the Norwich Union brand, while the institutional investmentbusiness operates under the Morley Fund Management brand.

Morley Fund Management is a business name of Morley FundManagement Limited (incorporated in England with Registered No.1151805 and Registered Office 1 Poultry London EC2R 8EJ) andNorwich Union Investment Management Limited (incorporated inEngland with Registered No. 2152949 and Registered Office 8 SurreyStreet Norwich NR1 3NG) both regulated by IMRO and members of theCGNU Group.

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