Board Changes

Walker Greenbank PLC
27 March 2001

27  March  2001                                      For immediate release


                            Walker Greenbank PLC


                     Termination of takeover discussions

                              and Board changes

On 21 December 2000 it was announced that the Board of Walker Greenbank PLC
had received an indicative proposal subject to pre-conditions that might or
might not have led to an offer being made for the Company.  Despite lengthy
discussions that involved an extensive review of the business, no proposal was
forthcoming at a level that the Board felt reflected the value of the business
and the Board has now terminated those discussions.

However, during the course of those discussions the Board was impressed by the
buy-in team and its proposals for the business and has invited David Medcalf
and Peter Harkness from the team to join the Board.

Aidan Connolly, Chief Executive, who was not part of the buy-in/buy-out team,
had agreed to remain with the Company until the discussions reached a
conclusion.  Consequently, he has now resigned from the Board of Walker
Greenbank.

David Medcalf has agreed to join the Company as Chief Executive in his place.
Mr Medcalf has extensive experience of managing companies through periods of
change and improving their performances, including most recently being the
Chief Executive of AG Stanley, a major retailer of decorating and home
furnishing products.  In addition, Peter Harkness, the second member of the
buy-in team has agreed to join the Board as a Non-Executive Director.

As part of the restructuring of the Board, Philip Billington and Philip Cadle
have agreed to step down as Executive Directors to concentrate on managing
their respective businesses in the group.

The preliminary results of Walker Greenbank for the year ended 31 January 2001
will be announced shortly.

Lord Thurso, Chairman of Walker Greenbank, said:-

'I am delighted to welcome David Medcalf whose extensive experience of managing 
businesses through periods of change will be a key factor in returning Walker 
Greenbank to profitability.'


Enquiries:

The Viscount Thurso, Chairman, Walker Greenbank PLC       Tel:  [phone]
Sir Malcolm Field, Director, Walker Greenbank PLC         Tel:  [phone]
John Rudofsky, Helsen Communications                      Tel:  [phone]
Richard Barlow, KPMG Corporate Finance                    Tel:  [phone]


NOTES TO EDITORS


David Medcalf

David developed his early career at Perkins Engines and Massey Ferguson, where
he held various positions in finance, engineering and marketing.  In 1982 he
joined Grand Metropolitan (now Diageo) where he held successive senior
financial roles in the brewing, pubs and restaurants, bookmaking and wines and
spirits business units.

In 1989 Schroder Ventures invited him to join Glass Glover Group PLC as
Finance Director.  After a short time he became Chief Executive of this very
troubled loss making MBO.  As Chief Executive he was responsible for the
transformation of this poorly performing business into a leading and
profitable provider of distribution and business services.  Shortly prior to
the planned reflotation in 1993 the business was sold to Unigate and
successfully integrated into their Wincanton Transport Division.

Later in 1993 he was invited by Phildrew Ventures (now UBS Capital) to join M.
Mercardo Ltd, a loss making wholesaler and distributor of floor coverings.  As
Chief Executive he was responsible for the conversion of this moribund MBO
into a leading and profitable perfomer.  In 1996 the business was succesfully
sold to Headlam Group PLC.  Following the succesful intergration of Mercardo
into the Headlam Floorcovering Division he became Head of their Soft
Furnishing Division.

In August 1997 Alchemy Partners invited him to become Chief Executive of A. G.
Stanley Ltd.  The business, purchased from Boots, was a major retailer of
decorating and home furnishing products.  During the last four years under
Boots' ownership the business made substantial losses.  In the first full
financial year after the MBI the business had returned to profit.  In November
1999 the business was sold to Rosebys PLC (now Homestyle PLC) in a deal that
generated a significant return for the Alchemy Investment Plan.