Board Changes

Seascope Shipping Holdings PLC
30 November 2000



               Seascope Shipping Holdings PLC 
                ('Seascope' or 'the Company')
                            
                           
                      Board Changes
  Update on Merger Discussions with Braemar Shipbrokers
                         Limited
                 ('Braemar Shipbrokers')

Seascope    Shipping   Holdings   PLC,   which   provides
specialised   broking   and   financial   and   technical
consultancy  services to the international  shipping  and
oil  industries, today announces changes to the Board and
an update on its proposed merger with Braemar Shipbrokers
Limited.   Braemar  Shipbrokers is  a  leading  privately
owned  London-based shipbroking company  specialising  in
sale  and purchase, contracting of new buildings and  dry
cargo chartering.

It  is  with regret that the Board of Seascope  announces
the  resignation with immediate effect of  its  Chairman,
Tom Young, due to a recurring heart condition.  Sir Peter
Cazalet,  a  non-executive director of the  Company,  has
been  appointed Chairman and Iain Shaw, a member  of  the
Board  and  joint  Managing  Director  Seascope  Shipping
Limited,  will  act  as  Chief  Executive  until  ongoing
discussions  in  respect  of  the  proposed  merger  with
Braemar Shipbrokers are concluded.

The Board is pleased to announce the appointment of Derek
Walter  as Group Finance Director with immediate  effect.
Since  qualifying with KPMG Peat Marwick, Mr  Walter  has
held the position of Group FD with two UK FTSE 250-listed
companies, Scapa Group PLC and Steetley PLC.   Mr  Walter
takes over as Group Finance Director from Julian Bolland,
whose  intention to retire as an executive  director  was
announced  on  31  May  2000, becoming  effective  on  30
November 2000.

The  Board  also  announces  that  Vincent  Ward,  having
reached the Group's normal retirement age,  retires as an
executive  director of the Company with  effect  from  30
November 2000.

Discussions  in  respect  of  the  proposed  merger  with
Braemar   Shipbrokers   Limited,   first   announced   in
September,  are  continuing in a positive  manner.   Both
Boards  are  convinced of the commercial  merits  of  the
merger,  which they believe has the potential to  deliver
real  advantages for clients, employees and  shareholders
of  the enlarged group.  The due diligence process  which
is   continuing  has  confirmed  the  expected  financial
benefits of the merger.  However, both Boards, because of
the  significance  of the merger in the  context  of  the
shipbroking market, are concerned that all aspects of the
merger are fully reviewed during the due diligence period
to  achieve  a smooth integration of the business.   With
this overriding objective in mind, it will be a number of
weeks before the definitive merger agreement is signed.

Discussions  for  the  acquisition  of  Braemar   Tankers
Limited  are  also continuing and have made progress.   A
further announcement in respect of both transactions will
be made in due course.


For further information, please contact:

Seascope Shipping Holdings PLC           020 7903 2600
Iain Shaw
Derek Walter

Grandfield                               020 7417 4170
Clare Abbot/Kirsty Black