Directorate Change

Directorate Change

Gresham House plc

GRESHAM HOUSE PLC (“the Company”)

1st August 2014

Board update

As announced on 25 July 2013, the Company served notices to terminate the service contracts and letters of appointment of each of its executive and non-executive directors (being, at the time, Richard Chadwick, John Lorimer, Brian Hallett, Tony Ebel and Rosemary Chopin-John). In accordance with the contractual notice periods, those service contracts and letters of appointment terminated on 31 July 2014.

It was further announced that, if the orderly disposal of all investments and properties of the Company was not achieved by 31 July 2014, it was expected that some or all of the directors would continue to provide their services to the Company on a short term basis on terms to be agreed.

The Board is continuing to work on the proposals outlined in its announcement on 25 June 2014 and the Company accordingly announces that each of Tony Ebel, Brian Hallett, John Lorimer and Richard Chadwick have entered into letters of appointment whereby Richard, John and Brian will act as non-executive directors of the Company and Tony will act as non-executive Chairman of the Company.

Additionally, the Company has engaged with the service companies of each of Richard, John, Brian and Tony for the provision of consultancy services (in particular, John Lorimer will provide property-related services to the Company and Brian Hallett will provide finance-related services to the Company).

All roles are terminable upon one month's written notice from either party.

The Board would like to thank Rosemary Chopin-John for her services to the Company over the past six years and, in particular, for her much valued assistance and advice regarding legal and corporate matters. Rosemary's duties will now be covered by the remaining Board members.

Enquiries:

Gresham House plc Brian Hallett, Non-executive Director and Company Secretary	Â	Â	01489 570 861
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Westhouse Securities Limited Richard Johnson			020 7601 6100

ENDS