TIDMSAM 
 
For immediate release: 
 
                        Syndicate Asset Management plc 
 
                        ("Syndicate" or "the Company") 
 
                          Director/PDMR shareholding 
 
Pursuant to the Company's Share Incentive Plan ("SIP"), Neil Hale, a director 
of the Company, has on 4 February 2011 purchased 8,116 ordinary shares of 0.2 
pence each in the Company ("Ordinary Shares") at a price of 1.54 pence each. 
Under the SIP, this purchase of shares will be matched by the Company if the 
shares are held for a period of 3 years and the recipient remains an employee 
of the Group. 
 
In addition 128 fully paid ordinary shares have vested pursuant to the SIP. 
 
This brings the total number of fully paid ordinary shares held by Neil Hale to 
2,202,270 representing 0.12% of the issued share capital of the Company. 
 
-Ends- 
 
For further information please contact: 
 
Syndicate Asset Management Plc 
 
Mark Cheshire (Interim Group CEO) Tel: 020 7659 8069 
 
Cenkos Securities plc 
 
Stephen Keys/Julian Morse Tel: 020 7397 8900 
 
GTH Communications 
 
Toby Hall/Christian Pickel Tel: 020 3103 3903/3902 
 
 
 
END 
 

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