BowLeven Fires Chief Executive Officer

BowLeven announces that Philip Rhind has been dismissed as the Company's Chief Executive Officer for gross misconduct with immediate effect following a unanimous decision by the Board.

This decision follows their review of an internal investigation into various allegations concerning his conduct in office.

Under the terms of his employment contract, Philip Rhind will be removed as a Director of the Company.

He will not receive any compensation for loss of office.

Pending a full review of the Company's management structure, John Morrow, currently Technical Director, will assume the role of acting Chief Operating Officer, with responsibility for all of the operational aspects of the Company's activities. He will report directly to Terry Heneaghan, the Executive Chairman.

Other than the Finance Director, all Executive Directors of the Company will henceforward report to John Morrow.