Appointment

Teather & Greenwood Holdings PLC
14 May 2001

Teather & Greenwood Holdings plc
14 MAY 2001




                       Teather & Greenwood Holdings plc
                              appointment of
               Country Funds Team from Bear Stearns International
                       to Teather & Greenwood Limited

The Board of Teather & Greenwood Holdings plc is pleased to announce the
appointment to its principal operating company, Teather & Greenwood Limited,
of the seven-strong, UK-based country funds team from Bear Stearns
International, with effect from today.

The team is an excellent strategic fit with Teather & Greenwood Limited's
existing 12-strong closed-end funds team led by Michael Bellamy, whose
activities are currently focused mainly on UK-listed investment trusts.  The
new recruits have an excellent and profitable track record in research, sales
and market making and will be highly complementary to Teather & Greenwood
Limited's expanding corporate finance activities in this area.

The new team comprises:

Ian Tanner, 36, Director of Closed-end Funds
Miles Davis, 35, Director of Closed-end Funds
Philip Hopkins, 28, Assistant Director of Closed-end Funds
Charles Murphy, 32, Assistant Director of Closed-end Funds
David Salako, 37, Closed-end Funds Research Analyst
Caroline Chalmers, 25, Closed-end Funds Research Assistant
Simon Stern, 37, Closed-end Funds Market Maker

Commenting on the team's appointment, Ken Ford, Chief Executive of Teather &
Greenwood Holdings plc said:

'We regard the recruitment of this established and profitable team from a
global player as a major coup for Teather & Greenwood and one that says much
about our intention to develop closed-end fund business as a major business
area.  Even with some participants scaling-back their coverage of closed-end
funds, we believe there are significant opportunities for smaller, energetic
players such as ourselves.'

                                    -Ends-



For further information, please contact:

Teather & Greenwood Holdings plc                        020 7426 9000
Ken Ford, Chief Executive
Michael Bellamy, Managing Director, Closed-end Funds
Tim Davis, Marketing Director


Note to Editors:

Teather & Greenwood Limited is one of the UK's leading independent
stockbrokers, specialising in providing corporate finance, institutional
sales, research and market making services for an increasing number of growing
smaller and mid-cap public companies.

In addition, it provides institutional sales and research coverage of
significant UK and international equities and has dedicated teams for
closed-end funds, contracts for difference, bonds and fixed-interest
instruments.

Private clients are offered discretionary, advisory and execution-only broking
services and a range of tax-efficient products.

Teather & Greenwood Limited is the principal operating company of Teather &
Greenwood Holdings plc.  For more information on Teather & Greenwood Limited
and its services, please visit the company's website: www.teathers.com



END