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Cosalt PLC

("Cosalt" or the "Company")

Board Changes & Trading Update

The Board of Cosalt PLC confirms the following changes to the Board, with immediate effect.

 

   -   David Ross, currently a Non Executive Director, has been re-appointed as Chairman.

   -   Calum Melville, who is responsible for the Company's Offshore division joins the Board as an Executive 
       Director.

   -   Simon Gilbert joins the Board as a Non Executive Director.

   -   David Hobdey, Non Executive Director who was also acting as interim Chairman, is stepping down from the 
       Board.

Mark Lejman, Chief Executive, commented:

"The Board is very grateful to David and thanks him for his valuable contributions and support, in particular during the Company's recent restructuring and successful fund raising."

This announcement is made pursuant to paragraph 9.6.14 of the Listing Rules.

The Board is pleased to advise that, in spite of challenging trading conditions, through prudent cost-cutting measures the Group continues to trade in line with Board expectations.  The Company will issue results for the year ended 1 November 2009 in the first week of February 2010.

30 November 2009

Enquiries:

Cosalt PLC	Tel: 01472 504 504
Mark Lejman, Chief Executive Officer
Mike Reynolds, Chief Financial Officer
College Hill	Tel: 020 7457 2020
Mark Garraway
Adam Aljewicz

Notes:

"Mr Melville has not held a directorship in a public quoted company on the London Stock Exchange in the last five years. There are no details in respect of Listing rule 9.6.13(2) to (6). Mr Melville is a Director of Dundee FC and other private companies.   

Mr Gilbert has held a directorship in a public quoted company on the London Stock Exchange in the last five years. There are no details in respect of Listing rule 9.6.13(2) to (6). Mr Gilbert is a Director of Fairpoint PLC and a Partner at Hanover Investors Management LLP.   "

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