Re Directorate

Paragon Group Of Companies PLC
9 July 2001


The Paragon Group of Companies PLC announces the resignation, received today, of
Mr Charles Weiser as a non-executive director.

At the time of his appointment to the Board, in 1998, Mr Weiser was Senior
Manager, Financial Services at British Airways. Since that time Mr Weiser has
been appointed to the position of Chief Executive of Rams Home Loans Pty
Limited, a company based in Australia, where he now resides.

The Board of Directors would like to express its gratitude to Mr Weiser for his
contribution during his time with the company and wish him every success for the
future.