Directorate Change

Masawara plc ("Masawara" or the "Company")

Appointment of Director

The Directors of Masawara Plc (Masawara) are pleased to announce the appointment of Yvonne Deeney (48) as a non-executive director of the Company with immediate effect.

Yvonne holds a Masters in Law, and a Bachelor's degree in Economics and Econometrics. She has more than 15 years experience in senior executive positions, in the financial services sector. Yvonne was Operations Director, and co-founder of Home Equity Release Company, a company that operated in the shared home equity market in London. Prior to that, between 2000 and 2004, she was the Managing Director of GE Re Management Services (which she had joined in 1998 as the Investment Director), which managed reinsurance portfolios and their investments for GE (Employers Reinsurance) and several of their global clients. Prior to that she was Head of Fixed Income Investments in the Saudi International Bank, and held senior positions in Hill Samuel Investment Management and Laurie Milbank, Chase Manhattan Bank, all in London.

Yvonne currently sits on the Board of Tokio Marine Global Re, as a non-executive director. There are no other disclosures required under Schedule 2 paragraph (g) of the AIM rules.

David Suratgar, Chairman of Masawara, commented; "We are delighted that Yvonne has joined our Board. Her extensive experience in global financial markets will enrich the Board at this critical phase of the Company's development".

Contact details

Masawara plc

Oliver Lutz/Rutendo Maziva +263 4 751805

Cenkos Securities plc (Nominated adviser and broker)

Nicholas Wells/Max Hartley /Elizabeth Bowman +44 20 7397 8900