Directorate Change

26 October 2012

Xchanging plc

Appointment of Ian Cormack as Non-executive Director

Xchanging plc ('Xchanging'), the business process, procurement and technology services provider and integrator, announces the appointment of Ian Cormack as Non-executive Director, with immediate effect. In addition, Ian will assume the role of Senior Independent Director, following Dennis Millard's retirement from the board in September this year.

Ian spent over 30 years at Citibank, based in London, New York and Paris, in various roles, lastly as UK Country Head and Co-Head of the Global Financial Institutions Group. From 2000 to 2002, he was Chief Executive Officer of AIG Europe. Following this he founded and, until 2008, ran Cormack Tansey Partners, providing strategic consulting to financial institutions.

Ian currently holds the following directorships in publicly quoted companies: Senior Independent Director and Chairman of the Audit Committee at Bloomsbury Publishing plc, Non-executive Director and Chairman of the Remuneration Committee of Phoenix Group Holdings, and Chairman of Maven Income and Growth VCT 4 PLC. He also has a Non-executive Directorship with Aspen Insurance Holdings Ltd, Bermuda, and does pro-bono work for organisations including Pembroke College, Oxford and The National Theatre.

Ian has previously held Non-executive Directorships at Pearl Assurance and London Life. He was a director of the Qatar Financial Centre Authority from 2006-12.

Geoff Unwin, Chairman of Xchanging, commented:

"Ian has extensive experience of the City and financial markets. He combines this with valuable first-hand experience in the Insurance sector. This is a particularly helpful combination to bring to Xchanging's board, which now has a strong and well rounded balance of relevant expertise. Ian's support driving the current regeneration of growth in the company will be greatly valued."

No other information is required to be notified under Listing Rule 9.6.13R.

Enquiries

Xchanging plc Tel: +44 (0) 207 780 6999

Geoff Unwin, Chairman

Alexandra Hockenhull, Head of Corporate Communications

and Investor Relations

Maitland Tel: +44 (0) 207 379 5151

George Hudson

Emma Burdett

Daniel Yea

Xchanging

What we are 

Xchanging provides business processing, technology and procurement services internationally for customers across multiple industries.

What we do

Xchanging brings innovation, thought leadership and passion to its customers' businesses so as to enhance performance and value. Our values are embedded into everything we do.

What we want to be

Xchanging wants to be regarded as the best provider in its chosen markets by delivering services that are recognised for outstanding quality, reliability and innovation.

www.xchanging.com

Cautionary Statement: 

This announcement contains forward-looking statements that are based on current expectations or beliefs, as well as assumptions about future events. These forward-looking statements can be identified by the fact that they do not relate only to historical or current facts. Forward-looking statements often use words such as anticipate, target, expect, estimate, intend, plan, goal, believe, will, may, should, would, could, is confident, or other words of similar meaning. Undue reliance should not be placed on any such statements because they speak only as at the date of this document and, by their very nature, they are subject to known and unknown risks and uncertainties and can be affected by other factors that could cause actual results, and Xchanging's plans and objectives, to differ materially from those expressed or implied in the forward-looking statements.

There are a number of factors which could cause actual results to differ materially from those expressed or implied in forward-looking statements. Among the factors that could cause actual results to differ materially from those described in the forward-looking statements are; increased competition, the loss of or damage to one or more key customer relationships, changes to customer ordering patterns, delays in obtaining customer approval or price level changes, the failure of one or more key suppliers, the outcome of business or industry restructuring, the outcome of any litigation, changes in economic conditions, currency fluctuations, changes in interest and tax rates, changes in raw material or energy market prices, changes in laws, regulations or regulatory policies, developments in legal or public policy doctrines, technological developments, the failure to retain key management, or the key timing and success of future acquisition opportunities or major investment projects.