Directorate Change

RNS Number:8054C
Ultimate Finance Group PLC
22 October 2002

                                 PRESS RELEASE



                           Ultimate Finance Group PLC

                            Appointment of Director

For Immediate Release

                                                                 22 October 2002


Ultimate Finance Group plc, the newly formed cash flow finance business, which
has established a factoring, invoice discounting and trade financing operation,
is pleased to announce the appointment of Mark Harris as non executive director
with immediate effect.

Mark qualified as a Chartered Accountant in 1989. He spent a number of years in
corporate finance before becoming head of corporate loan recovery at the Swedish
bank, Gamlestaden plc in 1991. In 1994 he was appointed chief executive of
Glenmore Investments Limited, an investment holding company. He is also a
director of Bristol and West Investments plc.

Commenting on the appointment, Clive Garston, Chairman of Ultimate Finance Group
plc said,"I am delighted to welcome Mark to the board at this very exciting
stage of the company's development. I am sure that his skills and experience
will be of great benefit to Ultimate and I look forward to working with him."


Enquiries:

Clive Garston, Chairman                                      Tel: [phone]

Gerald Raingold, Dawnay, Day Corporate Finance               Tel: [phone]

Shane Dolan, Biddicks                                        Tel: [phone]


AIM rules

The following additional information relating to the appointment of Mr. Harris
is provided pursuant to the requirements of Disclosure of Miscellaneous
Information, Paragraph (f) of Schedule Two of the AIM rules.


Mark Harris, Age 37

Present Directorships                     Past Directorships within past 5 years

Bristol & West Investments plc            Goodwood Leasing Limited

Glenmore Group Limited

Glenmore Investments Limited

Glenmore Property Holdings Limited

Glenmore Leasing Limited

Glenmore Factors Limited

GCB Properties Limited

Mede House Limited

Royal Stafford Tableware Limited

Northover & Gilbert Limited



Mark Harris was a director of Torq Limited (resigned in April 1992), as the
representative of a former employer, up until Torq Limited was sold. Within 12
months of the sale, the purchaser put the Torq Limited into receivership for the
purpose of hiving down the company's business to a new company.

Other than as set out above, there are no further details that are required to
be disclosed, in accordance with the Disclosure of Miscellaneous Information,
Paragraph (f) of Schedule Two of the AIM rules, in connection with Mr. Harris's
appointment.



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            The company news service from the London Stock Exchange
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