Directorate Change

Shires Income PLC
28 June 2002

Shires Income plc

Intention to change Board responsibilities.

In accordance with Rule 16.7 of the Listing Rules, the Company hereby announces
that John Izat intends to stand down as Chairman of Shires Income plc to be
replaced by Martin Haldane, one of the current non-executive directors.  The
effective date of this change has not yet been decided.  Mr Izat will continue
as a non-executive director of the Company.

Shires Income plc is managed by Glasgow Investment Managers Limited.


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