Directorate Change

RNS Number:0669R
Riceman Insurance Investments PLC
20 October 2003


FOR IMMEDIATE RELEASE                         20 October 2003





               RICEMAN INSURANCE INVESTMENTS PLC ("the Company")


                       Results of Annual General Meeting


                                 Board Changes


At the Annual General Meeting of the Company held on Friday, 17 October 2003,
Kamran Amin did not offer himself for re-election as Director, and accordingly
has retired from the Board.


Resolutions 1, 3, 4 and 6 were duly passed, and the name of the Company will be
changed to RII plc.


At the conclusion of the Annual General Meeting, Robert Lawrence Stubbs (aged
41) and Roland Clive Maguire (aged 66) were appointed Executive Director and
Non-executive Director respectively, and Farhad Moshiri (Non-executive Director)
has retired.


Mr Moshiri paid tribute to the efforts of Mr Amin over the past two years in
maintaining the Company's interests during a time of difficult market
conditions, and seeking to identify an appropriate acquisition for the further
developments of the Company.


Clive McGuire has been a member of the Stock Exchange since 1968 and is
currently an Executive Director of Hichens, Harrison & Co. plc, a firm of
Stockbrokers which was established in 1803.


Robert Stubbs, Executive Director, commented that, with the renewed market
interest in smaller companies, the Board hoped that it would soon be in a
position to place suitable proposals to shareholders for the development of the
Company.


20 October 2003

Enquiries:     Robert Stubbs, 020 7355 4071

               Roland Cornish, Beaumont Cornish Limited, 020 7628 3396



The following information is provided in accordance with the AIM Rules:


Robert Stubbs is or was, in the last five years, a director or partner of the
following companies or entities:

Present:             BR Corporate Finance Limited
                     Dominion Energy Plc
                     Lawrence Claes Limited
                     Comencor Services Limited

Past:                Comencor International Plc
                     Oskmet (UK) Limited
                     Agrifarm International Limited


Clive Maguire is or was, in the last five years, a director or partner of the
following companies or entities:

Present:          Hichens, Harrison & Co. plc
                  London Wall Nominees Limited
                  Charterpace Limited
                  Hichens Investment Management Limited
                  Baymag Limited
                  Cheapfunds Limited
                  Unittrustprofiles.com.uk. Limited

Past:             Farlake Limited


There is no further information required to be given under the AIM Rules.






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

END
BOAVBLBLXBBZFBF