For immediate release:

                        Syndicate Asset Management Plc                         
                        ("Syndicate" or the "Company")                         

                   NOTIFICATION OF MAJOR INTEREST IN SHARES                    

The Directors of Syndicate Asset Management Plc (AIM: SAM), the fund management
group with approximately £6.2 billion under management, have been notified on
25 November 2009 that ACP Octagon Limited ("ACP") acquired 229,327,641 ordinary
shares in the Company on 20 November 2009. This transaction is subject to FSA
approval as it results in the holding of ACP being in excess of 10% of the
issued ordinary share capital of the Company.

Upon FSA approval, ACP's total holding would represent 229,327,641 ordinary
shares in the Company and approximately 12.71% of the issued ordinary share
capital of the Company.

-Ends-

For further information please contact:

Syndicate Asset Management Plc

David Pinckney (Chairman) Tel: 020 7659 8060

Jonathan Freeman (Group CEO)

Cenkos Securities plc

Stephen Keys/Julian Morse Tel: 020 7397 8900

GTH Communications

Toby Hall/Christian Pickel Tel: 020 7153 8039