Directorate Change

RNS Number:4222H
Stockcube PLC
12 February 2003

For immediate release
 
                                 Stockcube plc 

I am pleased to announce the appointment of Andrew Russell Ashman to the board
of Stockcube plc as an Executive Director.

Mr Ashman graduated from Durham University in 1971 and qualified as a Chartered
Accountant in 1974. He has extensive financial and operational experience having
held a number of senior appointments in financial services, commerce and
industry. He was appointed a director of Stockcube Research Limited, a wholly-
owned subsidiary of Stockcube plc, on 12 July, 1999.

Set out below are his present and former Directorships for the last five years:

                                                                                                                      
  Company                                 Country of      Nature of                   Date                   Date     
                                          incorporation   business                    appointed              resigned 

  Stockcube Research Limited              England         Financial analysis          07.07.99               current  

  Ecube Limited                           England         Computer software           31.01.01               current  
                                                          development                                                 

  Chartanalysts                           England         Dormant                     28.02.01               current  

  Infoactive Limited                      England         Dormant investment company  11.04.94               current  

  Gainsborough Gardens Limited            England         Communal gardens            30.09.98               current  
                                                          management                                                  

  Bridge Nominees Limited                 England         Dormant                     01.01.97               31.12.99 

  Hanson Transport Group                  England         Holding company             01.01.97               31.12.99 
  Limited                                                                                                             

  Hanson Holdings Limited                 England         Dormant                     01.01.97               31.12.99 

  Hanson Securities Limited               England         Dormant                     01.01.97               31.12.99 

  Hanson White Productions                England         Dormant                     01.01.97               31.12.99 
  Limited                                                                                                             

  Yorkshire Car Hire Limited              England         Dormant                     01.01.97               31.12.99 

  Hanson Capital Limited                  England         Financial & corporate       01.07.99               14.09.00 
                                                          advisers     

                                               
Except as set out below there are no matters which require disclosure under
paragraph (f) of Schedule 2 of the AIM Rules in relation to the appointment of
Andrew Russell Ashman as a director of Stockcube plc.

Mr Ashman was group finance director of British & Commonwealth Holdings plc 
('B&C') from October 1987 to March, 1990.

B&C purchased Atlantic Computers plc ('Atlantic'), a fully-listed UK company, in
September, 1988. A detailed examination of Atlantic's accounting records and
accounting policies conducted during 1989 and 1990 by B&C and KPMG, newly-
appointed auditors to Atlantic, revealed substantial errors in Atlantic's
accounts for 1988 and earlier years. In April, 1990 B&C resolved not to support
Atlantic and placed it into administration. As a result B&C was itself placed
into administration in June, 1990. Inspectors were appointed by the Department
of Trade and Industry pursuant to Section 432(2) of the Companies Act 1985 in
July, 1990 to investigate Atlantic, its purchase by B&C in September, 1988 and
B&C's subsequent stewardship of it.

The Inspectors report was published in July, 1994 and Mr Ashman and others were
subject to a number of criticisms. The Secretary of State for Trade and Industry
commenced directors' disqualification proceedings against Mr Ashman under
Section 8 of the Company Directors Disqualification Act 1986 on the basis that
the Inspectors' report demonstrated an unfitness to act as a director of a
company. Proceedings were also instituted against the executive chairman and
chief executive of B&C in their capacities as directors of B&C and Atlantic and
against a number of Atlantic directors

The case came to trial in the High Court on 26 January, 1998 and lasted for ten
weeks until 1 April, 1998. Judgment was handed down on 15 June, 1998. Mr Ashman
was acquitted, together with the former executive chairman of B&C and one
Atlantic director and they were awarded costs. The judgment stated, inter alia:
"So far as the two charges put against Mr Ashman are concerned, I do not find
that a case is made out in relation to him which can properly form the basis for
a disqualification order. In my judgment he has not been shown to be unfit to be
concerned in the management of a company."  

In January 1999, the advisers to British & Commonwealth plc, charged by B&C to
carry out extensive due diligence during the acquisition of Atlantic settled the
sum of #150,000,000 against a claim for negligence made by B&C's administrators.

For further information, contact

Julian Burney, Chairman: tel [phone]



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