Water Hall Group Plc
21 August 2007


Water Hall Group plc ('Water Hall') is pleased to announce that it has received
approval from the Financial Services Authority ('FSA') enabling it and defined
associates to increase their shareholding in Premier Asset Management plc ('
Premier') above 10% of its issued ordinary equity.



Since the announcement of the Harvard Bidco Offer (the 'Offer') for Premier on
16 July 2007, Water Hall has acquired further ordinary shares in Premier and at
close of business yesterday now owns 1,024,183 ordinary shares representing
approximately 6.67% of its issued equity.



The directors of Water Hall are not aware of any additional information of
substance having been provided by the independent directors of Premier since the
posting of the Offer Document on 20 July 2007 and therefore remain of the
opinion that it continues to undervalue its investment in Premier.



Accordingly, it remains the present intention of Water Hall not to accept the
Offer in respect of its shareholding.



In the event that the Offer were to lapse, it would be the intention of Water
Hall to seek the support of other shareholders to strengthen the board of
Premier through the appointment of additional non executive directors capable of
providing support to the existing executive directors and management team for
the continued growth of its present business.



Any such appointments would be expected to include individuals who could assist
Premier's management team in developing new but related areas of asset
management in the Middle East.



Contacts:


Water Hall Group Plc                                 Tel:   01483 452 333
Raschid Abdullah, Chairman                           Mob: 07768 905 004

Blue Oar Securities Plc
John Wakefield                                       Tel:   0117 933 0020




                      This information is provided by RNS
            The company news service from the London Stock Exchange