Directorate Change

Falkland Islands Holdings PLC
5 March 2002


                               Appointment of Chairman

Falkland Islands Holdings plc announced today the appointment of Mr David Hudd
(56) to the Board as non executive Chairman with effect from 4th March 2002. Mr
Hudd is a Chartered Accountant and was a partner in Price Waterhouse until 1982.
Since then he has been Chairman or Chief Executive of a number of listed
companies. He was, until April 1998, Executive Chairman of Vardon plc (now
Cannons Group plc) a company he founded. He is currently non executive Chairman
of API Group plc and a non executive Director of Paramount plc.

Mr Hudd replaces Mr John Gainham (67), who has stood down from the Board. Mr
Gainham has been Chairman of the Company since 1997 and the Board thanks him for
his contribution.


Enquiries:   to David Hudd 0771 893267


Mr Hudd is the beneficial owner of 7,500 ordinary shares in the company.

Mr Hudd is currently a Director of API Group plc and Paramount plc, both listed
companies. Past directorships in the last five years were Cannons Group plc,
Loftus Road PLC and VFG plc. Mr Hudd resigned as a Director of VFG plc on 10th
April 2001 and Administrative Receivers were appointed on 21st December 2001: a
statement of affairs in relation to VFG plc (in administrative receivership) has
yet to be filed.

There are no other details in relation to Mr Hudd which require disclosure
pursuant to paragraph 16.4 of the Listing Rules of the FSA.



                      This information is provided by RNS
            The company news service from the London Stock Exchange