Directorate Change

Comprop Limited
10 September 2002


                        ComProp Limited ('the Company!')

                              Change in Directors


A recent review of our operations in the Channel Islands has resulted in a
decision that, whilst still maintaining our office in Jersey, we should
rationalise and transfer our principal accounting functions to Guernsey,
reflecting the current dominance of business in that Island. As a result of this
decision Charles Day the Company's Finance Director who is currently based in
Jersey and who has recently qualified as a local resident in that Island, will
shortly be leaving the Board of Directors to pursue other interests.

We are pleased to announce that Stephen Down, a Chartered Accountant, joined the
Company on 1 September 2002 and is expected to succeed Mr Day as Finance
Director in the near future. Mr Down, who was born in Guernsey, qualified with
KPMG before moving into the local finance industry where he held the position of
Finance Director with Rothschild Asset Management (C.I.) Limited.

We would like to place on record our thanks to Mr Day for his contribution to
the Company's development since his appointment in 1992, and wish him well in
his future career.


10 September 2002


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