Corporate developments

Cater Barnard PLC
24 November 2003



              CATER BARNARD PLC ('Cater Barnard' or 'the Company')

                   Major shareholdings and Board appointment

Further to the Company's announcement of 8 October 2003, Cater Barnard is
pleased to announce the completion of a number of significant developments.

Cater Barnard has been informed that Global Investments Limited ('Global') on
21st November 2003 completed the sale of 126,500,000 ordinary shares of 0.1p
each in the Company to Hetmoor Limited at a price of 0.316p per share. At the
same time, Global has granted Hetmoor Limited an option to purchase a further
63,500,000 Cater Barnard ordinary shares, at any time during the next 30 days,
at the same price per share.

Global has also today converted £316,000 of debt owed to it by the Company into
Cater Barnard ordinary shares at a conversion price of 0.316p per share. The
Company has also entered into an agreement today with Global under which the
balance of the debt owed to Global (£172,323) can be converted into Cater
Barnard ordinary shares, after the Company's next Annual General Meeting. The
conversion can take place at the election of either Global or (subject to
certain restrictions related to the City Code) the Company.

As a result of these transactions, Global holds 509,321,413 ordinary shares in
the Company, representing approximately 57.47% of the Company's issued share
capital. Global is the trustee of a trust in which the Chairman of the Company,
Stephen Dean, has a beneficial interest. Hetmoor Limited holds 126,500,000 Cater
Barnard shares, representing approximately 14.27% of the Company's issued share
capital.

The Company appointed Aidan Mills-Thomas to the Board of Directors of Cater
Barnard as a non-executive director on 21st November 2003. Mr Mills-Thomas is
the sole director and majority shareholder of Hetmoor Limited. Further
information on him is set out in the Company's announcement of his proposed
appointment, released on 8th October 2003. At the same time, Adrian Stecyk
resigned from the Board.

Enquiries:

Cater Barnard plc                Tel: [phone]
Stephen Dean, Chairman



Biddicks                         Tel: [phone]
Katie Tzouliadis


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