Director Declaration

Change in Director's Details

In accordance with Listing Rule 9.6.14R, Queen's Walk Investment Limited
announces that it was notified by Mr Talmai Morgan on 28 July 2006 that, in
addition to his existing role as a Non- Executive Director of Queen's Walk
Investment Limited, he has been appointed a Non-Executive Director of Goldman
Sachs Dynamic Opportunities Limited, which was admitted to listing on the
London Stock Exchange on 27 July 2006.

For further information, please contact:

Andre Le Prevost

Kleinwort Benson (Channel Islands) Fund Services Limited

Company Secretary

01481 727111