Confirmation of Board Change

BWD Securities PLC
1 December 2000

Confirmation of Board Change

Further to the announcement made on 5 October 2000, the Board of BWD
Securities PLC is pleased to confirm that Jonathan Wragg has today taken up
the position of Finance Director.

As at 1 December 2000, Mr Wragg had an interest in 4,975 ordinary shares in
the Company. Additionally, under the Group's Savings Related Share Option
Scheme Mr Wragg has options over 2,713 ordinary shares at an option price of
357 pence per share, exercisable from 1 October 2002 and has options under the
Group's Employee Share Ownership Plan over 3,000 ordinary shares at an option
price of nil pence per share, exercisable from 7 April 2003.

Mr Wragg has not held any other directorships in a publicly quoted company at
any time in the previous five years.

There are no disclosures to be made in respect of paragraph 6.F.2 (b) to (g)
of The Listing Rules of the UK Listing Authority.

END