Board changes

The Law Debenture Corporation p.l.c.                      

                                  Fifth Floor                                  

                                100 Wood Street                                

                                    London                                     

                                   EC2V 7EX                                    

                         APPOINTMENT OF A NEW DIRECTOR                         

The Corporation is pleased to announce that Christopher Smith has been
appointed a Non-Executive Director of The Law Debenture Corporation p.l.c. with
effect from 1 March 2009.

The Corporation can also announce that Rob Williams has decided to retire as a
Non-Executive Director at the conclusion of the next AGM on 7 April 2009 after
fifteen years on the board.

Christopher Smith was until his retirement on 31 December 2008 a Managing
Director - Corporate Finance of JP Morgan Cazenove Limited. He has over 30 years
experience in corporate finance and corporate broking which has included advisory work for a
number of investment companies. He is a member of the Panel on Takeovers and Mergers
and of the Code Committee of the Panel.

Rob Williams was appointed to the Law Debenture board in 1993. Until 2004, he
was an executive director, working part time providing guidance for the independent
fiduciary services businesses. He became a Non-Executive Director with effect from 1
January 2005 and has continued to provide excellent service in that capacity. The
Corporation records its gratitude to Rob Williams for his counsel and assistance over many
years.

For further information, contact Ian Bowden on 020 7696 5285.