COUTTS & CO MARKS NEW MONACO OFFICE OPENING WITH SENIOR APPOINTMENT
20 September 2002

Coutts & Co, the UK's leading private bank, has appointed Keith Oates as director of its new Monaco office. Keith will be working with senior client partner, Keith Luxon, and the team of private bankers responsible for providing cross-border financial services for clients.

The new appointment comes as Coutts celebrates the opening of its new office in Monaco on the 25 September.

Keith has built up an impressive career in management for UK plc's and international companies. He worked at Marks & Spencer plc for fifteen years, first as finance director and then managing director, and from 1994 to 1999, he held the position of executive deputy chairman. Keith was also founder chairman of Marks & Spencer Financial Services. Other positions he has held include governor of the BBC, chairman of Quest and non executive director of British Telecommunications plc and John Laing plc. He has also been a board member of the Financial Services Authority (FSA) and a member of the G.B. and English Sports Councils. He is currently a non-executive director of Diageo plc.

Commenting on the appointment, Gordon Pell, Coutts & Co chief executive, said: "We are delighted to welcome Keith to Coutts. With his experience of working with international companies, Keith will be a fantastic asset to our business in Monaco. His appointment is testament to the fact that Coutts is committed to strengthening its private banking teams in key international markets, giving our international clients unrivalled service for all their wealth management needs."

Coutts & Co has organised its private bankers around ten different groups of clients including entrepreneurs, professionals, executives, landowners and sports and entertainment. The international client group is one of the largest of these in terms of number of clients and revenue.

For further information, please contact:

Anita Saunders, Public Relations Manager, Coutts Group on 0207 957 2427 or mobile 07970 001149, or e-mail anita.saunders@coutts.com, or Julie Cooper, Head of Public Relations, on 0207 753 1774 or mobile 07970 001038 or e-mail julie.a.cooper@coutts.com.

Telephone calls with Coutts Group companies may be monitored or recorded in order to maintain and improve our service.

Issued on behalf of the Coutts Group by Coutts & Co, which is regulated by the FSA. None of the overseas companies in the Coutts Group or overseas offices of Coutts & Co is an Authorised Person subject to the rules and regulations made under the Financial Services and Markets Act 2000 for the protection of investors and depositors, and compensation under the Financial Services Compensation Scheme will not be available in respect of business transacted with them.

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