RNS Number : 7784V
  Asset Management Investment Co.PLC
  03 June 2008
   


    ASSET MANAGEMENT INVESTMENT COMPANY PLC
    ("The Company")

    Asset Management Investment Company PLC ('AMIC') announces the sale of its interests in Financial Management Advisors, LLC ('FMA') a
fixed income asset manager located in Los Angeles, California.  

    The consideration for the sale amounts to $550,000 in cash on closing on 30 May 2008, which payment has been received, and $150,000 in
cash on the second anniversary of closing. The deferred part of the consideration is secured by a promissory note dated 30 May 2008 by Mr
Kenneth D Malamed, Chairman and Chief Executive Officer of FMA.  

    The disposal is part of a transaction by which the assets of FMA and its affiliated companies have been acquired by First Western
Financial, Inc., a private banking organisation based in Denver, Colorado.  On 5 June 2007 the Board of AMIC took the decision to make a
full provision against the value of the investment, following FMA receiving an unfavourable judgement in a significant litigation in
December 2006.   

    For further information please contact:

    George Robb
    Managing Director and Chief Investment Officer
    44 (0)20 7618 9041
    grobb@amicplc.com 

    03 June 2008 

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