Board Changes

Warner Estate Holdings PLC ("Warner Estate" or "the Group")

Board Changes

Warner Estate, the property investor and asset manager, has announced that, following the publication in June of the Group's preliminary results for the year ended 31st March 2010, Mark Keogh, currently finance director, is to become Group Managing Director and Robert Game, currently property director, is to become Group Managing Director, Property with effect from 1st July 2010. Mr Keogh was appointed to the Board as Finance Director in November 2008 and Mr Game became Property Director in July 2009.

Philip Warner, who is currently Executive Chairman, will become Non Executive Chairman on the same date.

The Group is pleased to announce also that Keith Holman is to join the Group as a non-executive director on 1st July. Mr Holman has extensive corporate and property expertise. He is best known in the UK property sector for his work with Raglan Properties. This included the recapitalisation of that company, a 50:50 joint venture with a major Hong Kong property group and its acquisition of Letinvest. In 2000 he led the £50m privatisation of Raglan. In 2001 he became deputy Chairman of the Kowloon Development Company, which is quoted on the Hong Kong Stock Exchange. His corporate banking experience has included Lazard Brothers, Barclays Asia and East Asia Warburg.

Warner Estate can advise that there are no further details relating to the appointment of Keith Holman which it is obliged to disclose under paragraph 9.6.13 of the Listing Rules of the UK Listing Authority.

Bill Broderick, who joined the Board as a non-executive director in 1991, will step down on the same date.

Commenting on the announcement, Philip Warner, Chairman, said: "I congratulate Mark and Rob on their promotions. During our recent refinancing they demonstrated considerable skill and expertise and I am confident in their ability to lead the management of the Company.'

Bill has been with us for nearly 20 years and his expertise has been a great help to the Board. We shall be sad to lose him and I thank him for his contribution over the years. We are, however, fortunate that Keith has agreed to join us. He has extensive corporate experience and a strong knowledge of property, two important attributes which will be of great benefit to the Board."

-ends-

Date: 24 May 2010

Enquiries:

Warner Estate Holdings PLC Tel: 0207 907 5100

Philip Warner, Chairman

Mark Keogh, Finance Director

Robert Game, Property Director

Web: www.warnerestate.co.uk

City Profile Tel: 0207 448 3244

Jonathan Gillen