Directorate Change

RNS Number:1796F
Ultimate Finance Group PLC
12 November 2004


                           Ultimate Finance Group plc

12 November 2004


            Directorate change and result of Annual General Meeting


 Ultimate Finance Group plc ("Ultimate", "the Company" or "the Group) provides
  recourse factoring, invoice discounting and confidential invoice discounting

At the Annual General Meeting held yesterday all resolutions were unanimously
passed. The Chairman stated in his comments to the meeting that he was pleased
to report that trading continues in line with expectations.

Ultimate Finance Group plc is delighted to report the appointment of Darren
Telfer Newman FCCA, the financial controller for the group, to the board of
Ultimate Finance Group plc as finance director yesterday. Additional disclosures
concerning Mr Newman are set out below.

The directors of Ultimate Finance Group plc announce that Mark Harris, a
non-executive director resigned following the Annual General Meeting yesterday.
The board thanks Mr Harris for his contributions as a director during the early
stages of the group's development and welcomes Mr Newman to the board.

Enquiries:

Brian Sumner,
Chief Executive Ultimate Finance Group plc      0870 872 1010     07976 406474




Information concerning Darren Newman:

Mr Newman has previously been engaged as financial controller for various
business units within Avon Rubber plc including a start-up joint venture before
becoming Assistant Group Management Accountant. Prior to joining Ultimate
Finance Group plc in June 2002, Mr Newman was financial controller for a
subsidiary of Schneider Electric SA in the UK.

Other directorship: Ultimate Finance Limited.

Save for the directorship mentioned above Mr Newman has no matters to disclose
under paragraph (f) of Schedule 2 to the AIM Rules.

Mr Newman, aged 35, holds 14,250 shares representing 0.07% of the issued share
capital of the Company and has been granted options to purchase 40,000 shares
under the Company Share Option Plan.



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