Lamprell Lists Board Changes

Lamprell, in anticipation of the move to the Main Market, has announced that a number of Board changes have taken place.

David Moran will be stepping down from the Board with immediate effect. David will remain with Lamprell in his capacity as Corporate Communications Director with a specific remit to broaden the Company's investor base. David is a valued member of Lamprell’s management team having served with the Company since 1992. During his tenure, David has held a variety of roles at Lamprell, both at Board and non-Board level, and played an instrumental role in bringing the Group to market in 2006.

Colin Goodall joined the Board of Lamprell as a Non-Executive Director on September 14 and, on November 2, Colin was appointed to the role of Senior Independent Non-Executive Director. Colin, a chartered accountant, spent most of his career in the upstream oil and gas industry with BP. His career has involved assignments in Africa, the Middle East, Europe, Russia and the Americas.

Jonathan Silver joined the Board on August 24, 2007. Jonathan has been associated with the Lamprell Group for more than 17 years, through his work with Clyde & Co., providing legal advice on numerous matters, including on Lamprell's listing on AIM. In accordance with the Company's articles of association, having been appointed at the request of Lamprell Holdings Limited, the Company's principal shareholder, the Board has resolved to remove Jonathan from his position immediately upon Admission becoming effective. However, the Board considers that Jonathan's detailed knowledge of the Group and the Middle East region make it desirable for his services to be retained. Accordingly, the Board has further resolved to reappoint Jonathan as a Non-Executive Director immediately upon his removal having become effective.

Commenting on the news, Chief Executive Officer, Peter Whitbread, said, "These Board changes come at an important stage of development for the Company as we move towards the Main Market. Although David Moran has decided, for personal reasons, to step down from the Board, I am delighted that he will continue to provide us with his invaluable contribution in his role as Corporate Communications Director.

We have also strengthened our corporate governance in anticipation of the move to the Main Market by appointing Colin Goodall to the Board; Colin brings a wealth of experience to the Board at an important time for the Company. We are delighted he has accepted the position of Senior Independent Non-Executive Director."