Directorate Change

Caldwell Investments PLC
05 January 2005


5 January 2005


                            Caldwell Investments Plc
                                Re: Directorate


Caldwell Investments Plc ('Caldwell' or the 'Company'), creator of the NinaSun
canopy, announces the following changes to the Board of Directors.

The Company announces that Mr John Hanford, Non-executive Director, will be
retiring from the Board at the Company's next Annual General Meeting, which is
expected to be held in April 2005. John, 72, has served the Company well since
his appointment more than 10 years ago.

Caldwell is delighted to have secured the services of Keith Robinson who joined
the Company as Non-executive director on 4 January. Keith is an experienced City
solicitor who has operated in the smaller company arena for more than 30 years.
He is currently the senior partner of Stallards Solicitors, a director of
Hindustan Composites Limited (a company listed on the Mumbai Stock Exchange)
and, until October 2004, was a Non-executive Director of Dunham Bush (Europe)
Plc. There are no details to be disclosed under Listing Rule 16.4(b).

Commenting on the Board changes, Stanley Wootliff, Chairman of Caldwell, said, 
'John Hanford has served the Company valiantly for over 10 years since his
appointment in 1994. At the age of 72, John has decided to step back from his
Board responsibilities and we wish him all the very best in his retirement. In
Keith Robinson, we have a well-respected City solicitor who brings with him more
than 30 years experience of corporate finance in the smaller company arena. We
are delighted to have secured Keith's services for this new and exciting phase
in the Company's development'.


                                     -ENDS-


For more information please contact:

Eric Burns/ Kelly-Ann French
Buchanan Communications                                            01943 883990


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