Directorate Change PREMIER RECOVERY TRUST PLC The Company announces that with effect from 27 October 2003, Robert Goldsmith and Stuart Dixon have been appointed as Directors of the Company. Mr Goldsmith is also Associate Director of Dawnay, Day Principal Investments and Mr Dixon is Group Finance Director of Dawnay, Day International Limited. Neither Mr Goldsmith nor Mr Dixon have held any directorships of other public limited companies during the last five years and have no additional information to disclose under the Listing Rules Chapter 6.F.2. The Company also announces that George Robb, Christopher Edge and Mike O'Shea have resigned as Directors of the Company, with effect from 27 October 2003. 27.10.03 END

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