Morley appoints Christopher Wheaton to Equity Research Team

Article date: 20 November 2000

Morley Fund Management ("Morley"), the UK based institutionalasset management business of CGNU plc, has appointed ChristopherWheaton as an analyst in the equity research team. Chris, who willinitially report to Donald Tosh, Head of Corporate Research atMorley, will be responsible for analysing transport stocks on aglobal basis.

Chris joins Morley from Fidelity Investments, London where hehas several years experience in analysing the transport sector aspart of the cyclicals team. Prior to this Chris worked for twoyears as part of Fidelity's financials team and managed a majorproject that sought to analyse the impact of the Euro on theEuropean financial services industry.

Commenting on the appointment Donald Tosh, Head of CorporateResearch, Morley Fund Management, said:

"We are delighted that Chris has decided to join the researchteam at Morley. Equity research is central to Morley's investmentprocess and Chris's appointment reflects our commitment toexcellence in this area."

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For further information please contact:

Morley Fund Management

Donald Tosh, Head of Corporate Research
020 7809 8209

Penrose Financial

Gay Collins/Caroline Deutsch020 7726 8686

Notes to Editors

CGU and Norwich Union merged on 30 May 2000 to create CGNU plc -the world's 6th largest insurer, the UK's largest insurance groupand one of the top-five life insurers in Europe with substantialpositions in other markets around the world.

CGNU's principal business activities are long-term savings,asset management and general insurance with worldwide premiumincome and retail investment sales of £26 billion and assets undermanagement of more than £200 billion.

The institutional fund management business of CGNU in the UKwill operate under the Morley brand whilst retail investmentbusinesses will operate under the Norwich Union brand.

Morley Fund Management is the business name of Morley FundManagement Limited ("MFM") and Norwich Union Investment ManagementLimited ("NUIM"), both regulated by IMRO and members of the CGNUgroup.

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