Directorate Change

BWD Securities PLC
23 July 2002

BWD SECURITIES PLC



Company Announcement



Further to the announcement earlier today regarding the appointment of Andrew
Tyrie as a non-executive director of the Company, it is disclosed that Mr Tyrie
has not held any other directorships in a publicly quoted company at any time in
the previous five years.  Additionally, there are no disclosures to be made in
respect of paragraph 6.F.2(b) to (g) of the Listing Rules of the UK Listing
Authority.  At the time of his appointment, Mr Tyrie had no interest in the
share capital of the Company.






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