RNS Number:5253O
Durlacher Corporation PLC
11 August 2003

Embargoed until 10.30 a.m.
11 August 2003


                           Durlacher Corporation Plc

                 Sale of Nothing Ventured on-line stockbroking
                         business for up to #1 million



Durlacher Corporation Plc ("Durlacher" or "Company") is pleased to announce that
it has today entered into an agreement ("Agreement") to sell the business and
assets of its on-line stockbroking business, trading as "Nothing Ventured", to
Charles Stanley Group plc ("Charles Stanley") for a maximum consideration of #1
million in cash.  This disposal falls to be classified as a class 2 disposal
under the Listing Rules of the UK Listing Authority.



The Nothing Ventured business being sold provides execution-only share dealing
services to the public via the website, www.nothing-ventured.com, and by
telephone carried on under the name Nothing Ventured.



In the twelve months ended to 30 June 2002, the audited management accounts of
Durlacher showed that the Nothing Ventured business the subject of this disposal
generated gross revenues of approximately #0.56 million and a gross profit of
approximately #0.28 million.  At the same date, the net assets the subject of
the disposal were valued at less than #50,000.



Completion of the Agreement ("Completion") is expected to take place on 17
October 2003 and is conditional upon no objection being lodged to the proposed
disposal by the Financial Services Authority.



The total #1,000,000 cash consideration will be satisfied as to: (1) #100,000 on
completion; and (2) the sum equal to 30 per cent. of the annual net income for
each of the four financial years after the date of completion less the initial
#100,000 paid on Completion.  The total amount receivable by Durlacher is capped
at a maximum of #1,000,000. Durlacher will retain any liabilities arising from
the operation of its Nothing Ventured business up to the date of Completion.



The proceeds of the disposal strengthen the balance sheet and will be applied to
developing Durlacher's investment banking and fund management businesses going
forward.  In addition, the disposal reduces the cost base of Durlacher.



Tony Caplin, Chairman of Durlacher, commented: "We are very pleased to have
taken another step in Durlacher's re-structuring and re-focussing as an
investment bank with the successful sale of the Nothing Ventured on-line
stockbroking business to Charles Stanley.  We believe that Charles Stanley,
through its existing Internet and other dealing services has a  strong  position
in private client stockbroking and believe that Nothing Ventured will flourish
under its ownership."



Enquiries:



Christopher Stainforth, Chief Executive
Durlacher Corporation Plc
020 7459 3600

Sophie Dawn, Marketing & communications
Durlacher Corporation Plc
020 7459 3600

David Rydell / Billy Clegg
Bell Pottinger Financial
020 7861 3232


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