Directorate Change

22 January 2015

Findel plc ("Findel" or the "Group")

FUTURE BOARD CHANGE

The Board of Findel plc announces that Roger Siddle, Group CEO, has informed the board of his intention to step down from his position at the end of the current financial year.

Roger Siddle was appointed Group CEO in September 2010 when Findel was severely challenged. Under his leadership Findel's performance has improved significantly and net debt has been materially reduced. Given the considerably strengthened position of the Group and the Kitbag strategic review, with the potential for change in the shape of the Group, Roger has decided that this is the appropriate time for him to pursue alternative options for his career.

In light of the potential for change in the shape of the Group, the Board has decided not to seek a replacement Group CEO immediately. David Sugden, currently non-executive Chairman, will become executive Chairman with effect from the beginning of March 2015 whilst the Board considers the appropriate longer-term leadership structure. David, who led the group as executive Chairman from March 2010 up to its successful refinancing in March 2011, will work alongside executive directors Tim Kowalski, Group Finance Director, and Phil Maudsley, MD Home Shopping.

Commenting on the announcement, David Sugden, Chairman, said: "On behalf of the Board, I would like to take the opportunity to record our appreciation for the substantial contribution that Roger has made. His leadership, expertise and dedication have helped to transform a Group that was in real distress into one with increasingly strong performance and prospects."

Roger Siddle, Group CEO, added: "It has been a real privilege to lead Findel over the past four and a half years. I am proud of what the team has achieved and the substantial progress that has been made. I am confident that the Group will go on to even greater heights in the years to come."

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Enquiries

Findel plcDavid Sugden0161 303 3465

Tulchan Communications LLPStephen Malthouse / Will Smith020 7353 4200