Directorate Change

RNS Number:0822V
Conister Trust PLC
02 December 2005


                               Conister Trust PLC


        Appointment of Chief Executive Officer and Change in Directorate


                               New Revenue Stream



The Board of Conister Trust PLC is delighted to announce the appointment of
Jeremiah (Jerry) Francis Linehan as a Director and Chief Executive Officer of
the Group. The appointment, which is subject to regulatory approval, will take
effect during the first half of 2006. This is a new post in the Group. At that
time, Mr Peter Hammonds, Executive Chairman, will take on the title of Chairman.


Jerry Linehan, age 48, has extensive banking experience and in particular in the
offshore environment. He has held senior roles with several leading banking
institutions. Most recently he was Royal Bank of Scotland International Island
Director and Managing Director of Isle of Man Bank. He has also held the
position of Isle of Man Director for the Barclays Group. He has been resident on
the Isle of Man since 1993 and is a Past President of the Isle of Man
Association of Licensed Banks.


Mr Linehan commented "Conister Trust has unique opportunities as an independent,
offshore, licensed bank with an AIM quotation. I intend fully to capitalise on
this and to grow the bank in to new markets and income streams. I relish the
prospect".


Peter Hammonds, Executive Chairman, replied "We are delighted that Jerry Linehan
has agreed to join us as Chief Executive Officer to drive the business forward.
Conister Trust needs to reposition itself from its current model as an offshore
bank behaving more like a branch of a UK bank in to a fully fledged offshore
bank with a range of products and services. I am certain Jerry will contribute
greatly to effect this transformation and I look forward very much to working
with him to deliver superior value to our customers and shareholders. I regard
the appointment of a CEO of the calibre of Jerry Linehan as a great coup for
Conister Trust".


John Webster, who was appointed a non executive director in 2004, has now left
the board to pursue his growing personal business interests. Mr Webster
commented "Now that we have achieved our aim of initiating a diversification
strategy and agreed to appoint a new chief executive, it is an opportune moment
for me to resign as a director of Conister Trust. I wish the new team well in
its efforts to capitalise on the many opportunities available".


The company also announces the launch of a new revenue stream from the provision
of premium finance on insurance policies. An agreement has been reached with
Group Direct Limited, a major insurance broker based in the UK, for #5 million
of lending business annually over 4 years. The company will, however, seek to
grow a larger book of loans in this market.


Arron Banks, a director of Conister Trust, is a majority shareholder in Group
Direct Limited and therefore the agreement is deemed to be a related party
transaction. The directors of Conister Trust, with the exception of Arron Banks,
have consulted with KBC Peel Hunt, the Company's nominated adviser, and consider
that the terms of the transaction are fair and reasonable so far as shareholders
are concerned. The Executive Chairman, Peter Hammonds commented "This is a
useful future additional revenue stream, especially in the light of continued
tough trading conditions in our traditional markets".







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

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