Directorate Change

RNS Number:6137J
Merchant House Group PLC
03 April 2003



                            Merchant House Group PLC

                            Appointment of Directors


Merchant House Group PLC is pleased to announce the appointment of four new
directors to strengthen the board as the company launches its corporate and
investment advisory services

Peter Redmond, currently Managing Director of Merchant Capital Corporate Finance
PLC, a subsidiary company, will move on to the main board as an executive
director, alongside Chairman Peter Cotgrove and Jim Fleming, who is
non-executive

Richard Armstrong, Gary Thompson and Frank Sauer will also join the board as
non-executive directors. All of the new appointments will take immediate effect.

Chairman Peter Cotgrove said: "These new appointments reflect our objective of
operating with a small, tight executive team supported by strong non-executives
chosen to introduce business opportunities in our areas of focus and
specialisation - corporate finance, investment advice and the creation of or
investment in corporate shells."

Mr Cotgrove added: "Between them, the new directors have crucial experience in
those fields, and also bring a wider network of contacts that will prove
invaluable in helping to build forward deal flow. For the next few years it is
expected that a common theme will be turnarounds and we also plan to specialise
in the opportunities for deal flow between the public and private sectors."

Peter Redmond has over 18 years' experience in corporate finance and venture
capital, most recently with Durlacher Limited.  He is an experienced corporate
finance executive with broad experience in IPOs, reverse takeovers, mergers and
acquisitions and corporate reconstructions.

Richard Armstrong has many years' experience in the City both as an analyst and
as a corporate stockbroker. He is currently an associate of Fiske PLC where he
specialises in fund raising for smaller quoted companies.  For a number of years
he has been active in finding transactions for corporate shell companies.

Gary Thompson, a director of Netcentric PLC and of Optimus Corporation in the
USA, has extensive experience in investment banking, corporate finance and
venture capital funding from pre-IPO to stock market listings. He also brings
considerable IT experience to the board.

Frank Sauer, a former senior bond trader with Salomon Brothers in New York,
London and Tokyo, is now running Pro-Momentum, a German-based private equity
group offering advisory services to US corporates setting up in Europe. Mr Sauer
also has experience as a corporate financier.

Merchant House Group (formerly Airow PLC) joined the Alternative Investment
Market in 2002.  It announced its intention of developing a financial services
business on 27 September 2002.  This will be based on providing advice to
smaller public companies and emerging private companies, and to specialist
institutions and funds.

The company has now moved into new premises in the City, at 7th Floor, Aldermary
House, 15 Queen Street EC4N 1TX.

3 April 2003

Further information, contact:

Peter Cotgrove, Chairman, Merchant House Group PLC:       020 7332 2200
Alex Borrelli, Shore Capital:                             020 7468 7932
Allan Piper, First City Financial Public Relations:       020 7436 7486
                                                          07050 203 304


APPENDIX

The following information falls to be disclosed pursuant to rule 15 of the rules
of the Alternative Investment Market:

Peter Redmond, aged 53, is currently a director of the following companies:

Merchant Capital Corporate Finance PLC
Future Internet Technologies PLC

and, over the previous five years, was a director of the following companies:

Catalyst Corporate Consultants Ltd
Falcon Park Limited

Catalyst Corporate Consultants Ltd was solvently wound up in 1999 as it had
closed all activities.

Falcon Park Limited was solvently wound up in 1998 without having traded.

Richard James Armstrong, aged 52, is currently a director of the following
companies:

Holroyd Consultants Limited
Zoa Corporation PLC
Mobile Future PLC
Future Internet Technologies PLC

Zoa Corporation PLC is currently the subject of a company voluntary arrangement.

and, over the previous five years, was a director of the following companies:

World Sport Group PLC (formerly Orchard Furniture PLC)
Briar Abbey Services Limited

Frank Sauer, aged 39, is currently a director of Pro Momentum GmbH, and has not
been a director of any other company within the last five years.

Gerard Maurice Thompson, aged 58, is currently a director of the following
companies:

Energy Technique PLC
Manx Bristol Limited (Dormant)
Netcentric Systems (Europe) Limited
Denbrae Estates Limited (Dormant)
Lemones Limited (Dormant)
Lioncrest Limited (Dormant)
Optima Pharm Limited (Dormant)
North Shore Capital Limited
Croma Group PLC
13/14 Herbert Crescent Resident Limited
Harrell Hotels (Europe) Limited (Dormant)
Biltmore Hotels and Resorts Limited (Dormant)
Netcentric Systems PLC
Emano Limited (Dormant)
Emsdale Limited (Dormant)
Manx Kitchens Limited (Dormant)
Manx Central Limited (Dormant)
M&O Paints Limited (Dormant)
Development Capital Advisors Inc.
Harrell Hospitality Group Inc.
Optimus Corporation
Merchant Kapital Bank A/S

Netcentric Systems (Europe) Limited was subject to a company voluntary
arrangement which was successfully concluded in July 2002.  All creditors were
fully paid in cash and shares.

Over the previous five years Gerard Thompson was a director of the following
companies:

Manx Crawley Ltd
Rostima Ltd

No further information falls to be disclosed under the AIM Rules.


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