RNS Number:2069I
Gladstone PLC
03 March 2003

Gladstone PLC



Board Changes



In November 2001 Simon Preston was appointed to the Board of Gladstone Plc as
non-executive Chairman.  With his assistance the Company was refinanced in
January 2002 and then quickly attained a positive cash generation position.
Simon now wishes to devote himself to his growing business interests in Cheshire
and has today resigned from the Gladstone Board with immediate effect.  The
Board wishes him every success.



Ben Merrett - CEO -  said  "Simons' non-executive support has had a considerable
impact on attaining the achieved turnaround at Gladstone and subsequently
building on this success".



Jeremy Stokes has been appointed to the role of Interim non executive Chairman
of Gladstone Plc.



In the Company's preliminary announcement issued in December 2002 it was
reported that the Group had attained a break-even position before goodwill
amortisation.  Since that date the Group's operating profitability has improved
and its financial position strengthened.  The Board is anticipating announcing
the results for the 6 months ended 28 February towards the end of March 2003.



ENDS


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