Morley Fund Management excels in Reuters Smaller Companies Survey 2001

Article date: 6 July 2001

The UK Small Cap team at Morley Fund Management ('Morley') hasshown a marked improvement in the Reuters Smaller Companies AnnualSurvey moving up from 20th to 6th place in the individual category.The individual team, headed up by Neil Hermon, consists of SharonSegal, Jeremy Grime, Theresa Wat and Alex Pedder. In addition tothis, Morley have also improved their position in the Groupcategory from 19th to 9th place.

This follows on from Neil Hermon's success in the Reuters UKLarger Companies Survey, released in February, when he was ratedsecond best individual buy-side analyst. Donald Tosh, Head ofCorporate Research at Morley was rated top individual buy-sideanalyst for the third year running and Morley also came 7th overallin the UK Larger Companies top fund management groups survey.

The Reuters Survey produces detailed industry sector rankings ofthe key people, fund management groups and brokers that are judgedto be the leading authorities on investment in UK Smaller Companiesby more than 250 company finance directors. The Reuters fundmanagement survey is increasingly becoming the industry standardand is further recognition of Morley as a leading fund manager.

Commenting on the survey results Mike Bishop, Head of PanEuropean Equities said:

"This is a fantastic achievement for Neil and the UK SmallerCompanies team especially during a year of integration at Morleyfollowing the CGU / Norwich Union merger. This improved rating istestament to Morley's commitment to corporate research, thecentrepiece of our investment process. "

- Ends -

For further information please contact:

Morley Fund Management 
Mike Bishop, Head of Pan-European Equities020 7809 6223
Penrose Financial 
Gay Collins/Caroline Deutsch020 7786 4888

Notes to Editors

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

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.

Morley Fund Management is a business name ofMorley Fund Management Limited (incorporated in England withRegistered No. 1151805 and Registered Office 1 Poultry London EC2R8EJ) and Norwich Union Investment Management Limited (incorporatedin England with Registered No. 2152949 and Registered Office 8Surrey Street Norwich NR1 3NG) both regulated by IMRO and membersof the CGNU Group.

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