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Watermark Group PLC (IM31)

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Friday 21 December, 2007

Watermark Group PLC

Directorate Change

Watermark Group PLC
21 December 2007


For release: 21 December 2007

                              WATERMARK GROUP PLC
                                 ('Watermark')

The Board of Watermark today announces the appointment of Carl Fry as Chief
Financial Officer of the Company commencing initially on a six month contract
with effect from 2 January 2008. Carl will replace Peter Fitzwilliam, whose
resignation from the Board was announced on 27 September 2007, and who will
leave the Company on 31 December 2007.

Carl has significant experience of serving on the Boards of both publicly listed
and private companies. Until earlier this year he was Group Finance Director of
private equity-owned Telecity Group plc, which Carl joined following its merger
with Redbus Interhouse plc in January 2006. He became Group Finance Director of
Redbus in 2000 where he devised and executed a robust cost control strategy.
From 1995 to 2000 he was Group Finance Director of Creston plc where he was
responsible for restructuring the business.

After qualifying as a chartered accountant with Arthur Andersen, Carl spent
several years in roles where he gained significant corporate finance experience.
He is a Fellow of the Institute of Chartered Accountants and graduate of
Southampton University where he earned a first class honours degree in
Mathematics.

Commenting on the appointment, Stephen Yapp Chairman of Watermark said: 'Carl
has extensive and highly relevant expertise and I am pleased he has agreed to
join the Board. His broad financial and operational experience will, I am sure,
prove valuable as we continue work to turnaround the performance of our Company
and meet the Board's objectives.'

On the departure of Peter Fitzwilliam, he added: 'On behalf of the Board and our
shareholders, I would like to thank Peter for his significant efforts during his
time at Watermark and wish him well for the future.'

Listed below are the names of the publicly quoted companies of which Carl Fry
has been a director at any time in the past five years:

Redbus Interhouse plc (Official List & AIM) 2000 - 2006: Group Finance Director
Carl Fry was a director of de Morgan Group plc which went into receivership in
1994.

There is no further information concerning Carl Fry which requires disclosure
under Rule LR 9.6.13 R of the UK Listing Authority Listing Rules.

For further information, contact:

Stephen Yapp Jeremy Carey or Matt Ridsdale

Watermark Group plc Tavistock Communications Limited

0208 606 2071 Tel: 0207 920 3150



                      This information is provided by RNS
            The company news service from the London Stock Exchange
                                                                                                                                                     

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