Chief Financial Officer

THE LAW DEBENTURE CORPORATION p.l.c.                      

                                  Fifth Floor                                  

                                100 Wood Street                                

                                    London                                     

                                   EC2V 7EX                                    

Tim Fullwood has joined Law Debenture as its Chief Financial Officer,
succeeding Peter Skeggs who left the Company on 23 May 2003 to pursue new
challenges (as announced on 27 May).

Tim Fullwood was a Partner at Arthur Anderson between 1993 and 2002, where he
was Head of the Midlands Assurance and Business Advisory Division, based in
Birmingham.

Before joining Arthur Anderson, he was a Partner at Moores Rowland (originally
Herbert Pepper & Rudland, and now BDO).

The Chief Financial Officer is a senior executive, but does not sit on the
Corporation's Board.

Ian Bowden

Head of Company Secretariat

020 7696 5285