Directorate Change

Brancote Holdings PLC
4 July 2002



4 July 2002



              Brancote Holdings PLC ('Brancote' or the 'Company')


Following the announcement on 3 July 2002 that Meridian Gold Inc. ('Meridian')
had declared its offer for the Company wholly unconditional, on 4 July 2002
Brian Kennedy, Edward Colt and Peter Dougherty, representatives of Meridian,
were appointed directors of Brancote and Richard Prickett, William Humphries,
David Dare, David Whitehead and David Barnett resigned as directors of the
Company.


Brian John Kennedy, aged 58, is President and Chief Executive of Meridian. He is
a director of Meridian and is a director of a number of companies within the
Meridian Gold Group. He was formerly President and director of FMC Gold Company,
a predecessor of Meridian from May 1987 until June 1996.


Edward Harry Colt, aged 45, is Vice President, Financial and Chief Financial
Officer of Meridian. He is a director of a number of companies within the
Meridian Gold Group. He is also a director of Gold Hawk Inc. and the Nevada
Mining Association.



Peter Christopher Dougherty, aged 39, is Chief Accounting Officer and Controller
of Meridian. He is a director of a number of companies within the Meridian Gold
Group.



PRESS ENQUIRIES


Meridian                                 Tel: [phone]

Wayne Hubert


Standard Bank London Limited             Tel: [phone]

Andrew King


BMO Nesbitt Burns Inc.                   Tel: [phone]

Egizio Bianchini


Brown, Shipley & Co. Limited             Tel: [phone]

William Staple




END.



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