Henderson Group plc (the parent company of Henderson Global Investors) announced the terms ofits proposed acquisition of Gartmore Group Limited (“Gartmore”). The Gartmore businesses being acquired has total assets under management of £16.5 billion as at December 31, 2010.

The attached acquisition announcement released on the London Stock Exchange and the Australian
Securities Exchange outlines the proposed acquisition in more detail.

The proposed acquisition will create a fund manager with over £78 billion global assets under management and reinforces Henderson’s existing investment capabilities with the addition of a number of highly respected portfolio managers. It also provides an opportunity for Henderson to add product strengths that encompass traditional long only and absolute return offerings offered to both institutional and retail clients.

Investment management is a people business, which is why sharing a common investment philosophy is critical when two different organisations come together. In this respect, Gartmore and Henderson are particularly well matched; both groups believe that long term outperformance is achieved by empowering active fund managers to take investment decisions without the restrictions of a centralised approach. The fund managers of both groups are organised along similar lines with independent teams of investment experts supported by a common culture within a well-resourced framework.

Our commitment to clients and the stability of our business is a priority. A separate dedicated integration team, with previous experience in successful integration management, will report directly to Andrew Formica, Chief Executive of Henderson Group plc. The integration team will allow Henderson and Gartmore’s investment and distribution professionals to focus on running the business as usual.

Please be reassured that throughout this process fund managers at both Gartmore and Henderson will be completely focused on running their funds and delivering returns for investors.

There are a number of conditions required to be met before this acquisition completes, including regulatory approvals and Gartmore and Henderson Group shareholder approvals. We expect completion to take place within the next three months and we will keep you updated on our progress.