Directorate Change

Athelney Trust PLC
12 April 2002

Athelney Trust Plc

Appointment of Mr David Horner as a Non-Executive Director

Director's Shareholding



Athelney Trust Plc ('the Company'), the AIM-listed investor in small companies
and junior markets today announces that Mr Richard Ellert resigned as
Non-Executive Director and that Mr David Alistair Horner has been appointed as a
Non-Executive Director in his place with effect from 12 April 2002.



The Board thanked Mr Ellert for his good advice and sound counsel to the Company
since its formation and wished him well for the future.



Mr Horner, 42, is Chief Executive of Chelverton Asset Management Ltd and has
considerable experience of managing investments in small companies and the Board
believes he will be a valuable addition to the Company.



Mr Horner holds, and has held within the preceding five years, the following
directorships and partnerships:



Current directorships or partnerships:



Chelverton Asset Management Limited

Robert H. Lowe Public Limited Company

Colinette Holdings Limited

MGT Trading Limited

Talisman First Venture Capital Trust Plc

Abinger Investments Plc



Past directorships or partnerships in preceding five years:



Bishopsgate Corporate Finance Limited

Pilkington's Tiles Group Plc

Strand Partners Limited

The Micro Quoted Growth Trust Plc



There is no other material matter that is required to be disclosed pursuant to
paragraph (f) of Schedule 2 of the AiM Rules.



The Company also announces that it was advised that, on 11 April, the Chairman,
Mr Hugo Deschampsneufs, purchased 2,375 Ordinary Shares (0.13%) of 25 pence each
at a price of 82 pence per share.



Following this transaction, Mr Deschanpsneufs' beneficial interest in the issued
ordinary share capital of the Company is 122, 575 Ordinary Shares (6.80%). The
above figures include a holding of 58,000 shares owned by a pension fund in
which Mr Deschampsneufs and the Managing Director, Mr R. G. Boyle have an
interest.






For further information:


Robin Boyle, Managing Director

Athelney Trust Plc                                020 7630 0036


Anna Louise Robertson

Noble & Company Limited                            0131 225 9677



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