Directorate Change

Piccadilly Growth Trust plc                          

                           Appointment of Directors                            

 

The Company is pleased to announce that Mr Simon Miller, Mr Charles Peel and Mr
Andrew Umbers have today been appointed as non-executive Directors of the
Company.

Mr Miller, aged 51, is currently the Chairman of Dunedin Capital Partners, a
private equity business. Mr Miller qualified as a Barrister before joining
Lazard Brothers in 1976. He is currently Chairman of Sigma Technology Group PLC
and Fleming Managed Income plc and a non-executive director of Dunedin
Enterprise Investment Trust plc., Goshawk Insurance Holdings PLC and Adam &
Company PLC.

Mr Peel, aged 58, is Chairman of KBC Peel Hunt Ltd. He was previously Chief
Executive of Fielding Newson-Smith & Co. before joining Morgan Grenfell
Securities. In 1989 he became a founding director of Peel Hunt.

Mr Umbers, aged 39, is currently the Managing Director of European Equities at
CSFB. He previously worked for BZW as a research analyst and salesman before
BZW was taken over by CSFB.

Further details will follow shortly.

Resolutions proposing the election of Mr Miller, Mr Peel and Mr Umbers as
Directors of the Company will be included in the Notice of Annual General
Meeting which will be sent to shareholders shortly.

 

14 July 2003