Appointment

Rensburg plc
04 January 2005



                                                                  4 January 2005

                                  Rensburg plc     

        Rensburg Appoints James O'Loughlin as Head of Investment Process


Rensburg, the investment management group, is pleased to announce the
appointment of James O'Loughlin to the position of Head of Investment Process in
Rensburg Investment Management (RIM).  His major objective will be to support
and develop the Company's investment philosophy and process.



Jim (aged 44) has worked at the Co-operative Insurance Society (CIS) in
Manchester since 1983 and held a number of positions within the Company.  His
most recent role was as the first Head of Investment Process at CIS.  Prior to
this he was Head of Global Equity Strategy for five years.



Jim is the author of 'The Real Warren Buffett:  Managing Capital, Leading People
'.  He is married with two children and is an economics graduate from the
University of Manchester.



Michael Burns, Chief Executive, Rensburg plc, said 'We are very pleased to have
attracted someone of Jim's calibre to Rensburg.  His long experience of global
markets combined with his fresh approach to investment management disciplines
will strengthen Rensburg's capacity to deliver a first class service to its
clients'.



Enquiries:


Rensburg plc                                         0151 227 2030

Michael Burns, Chief Executive


gcg hudson sandler                                   020 7796 4133

Nick Lyon



Notes to editors



•        Rensburg (formerly known as BWD Securities) is an investment management
business with offices in London, Liverpool, Leeds, Sheffield, Manchester,
Glasgow and Belfast.   From these offices, Rensburg offers a range of retail
financial and investment management services to private and corporate clients.



•        The Investment Management Group, which also manages venture capital
trusts, unit trusts and group schemes for charities and pension funds, has in
total approximately £4 billion under management.



•        Rensburg continues to concentrate on growing its businesses, through
fee, as opposed to transaction-based, revenue.



•        On 10 December 2004 Rensburg announced a proposed merger with Carr
Sheppards Crosthwaite, a wholly owned subsidiary of Investec, to form a group
with £9.6 billion funds under management.



•        It is proposed that Michael Burns, currently Chief Executive of
Rensburg will be Chief Executive of the enlarged group.





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