Premier Portfolio Management Service

in partnership with LifeStages Limited

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|   PREMIER GROWTH PORTFOLIO   |

Quarterly report to 31st January 2010 >

Suitable for: the more adventurous investor comfortable with a high-risk strategy, but with the potential for greater returns.

The Premier Growth Portfolio invests in UK and overseas markets through both closed and open-ended investment companies and through structured products. As with the Premier Balanced Portfolio, it may provide exposure to a range of asset classes such as property or commodities, but there will be a greater focus on potential capital appreciation and less emphasis on capital protection.

In order to build-in additional growth opportunities, the Portfolio may include a greater exposure to closed-ended funds as well as exposure to more volatile markets and individual investments that would be regarded as higher risk. Nevertheless, we seek to mitigate risk through diversification, using a range of asset and fund types.

Important: Investors need to refer to the Risk Warnings in this document and those contained in the Premier Portfolio Discretionary Agreement when considering their choice of portfolio.