Corporate Reorganisation

RNS Number:2171O
Swan(John) & Sons PLC
01 August 2003



JOHN SWAN & SONS PLC ("John Swan", "PLC" or "the Company")
Corporate Reorganisation


John Swan today announces the implementation of the corporate reorganisation
referred to, and explained, in the Preliminary Results' announcement of 11 July
2003.

All of the business and trading assets of the Company have now been hived down
to a new, wholly-owned subsidiary, John Swan Limited ("JSL"); PLC is retaining
ownership of all of the Company's heritable and freehold properties.

The Board of PLC is now chaired by Mr. A.J. Ritchie. The Board of JSL is chaired
by Mr. G.T. Neill. All of the existing directors of PLC, with the exception of
Mr. Ritchie and Mr. G.R. Forbes, have become directors of JSL. The existing
directors of PLC will remain in their current positions until the conclusion of
the Annual General Meeting of the Company on 19 August 2003. Immediately after
this meeting, the following directors will resign:

 Mr. S. Archibald;
 Mr. J.J. Baird;
 Mr. J.S. Helm;
 Mr. W. Stott; and
 Mr. B. Thomson

The PLC Board after the Annual General Meeting will therefore consist of:

 Mr. A.J. Ritchie (non-executive Chairman);
 Mr. J. Allen (non-executive director);
 Mr. J.C. Clark (Managing Director, JSL);
 Mr. G.R. Forbes (non-executive director);
 Mr. F.W. Forrest (executive director, JSL); and
 Mr. G.T. Neill (non-executive director and Chairman, JSL)

In due course, the PLC Board intends to appoint a new director with a background
in commercial property.

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