Directorate Change

Worldsec Ld
12 May 2003



The Board of Directors of Worldsec Limited announces that

 1. Mr Masao HASEGAWA has been appointed as a non-executive Director of the
    Company with effect from 12 May 2003;

 2. Mr Yasumine SATAKE has resigned as a non-executive Director of the Company
    with effect from 12th May 2003


    3. Brief biographical note on Mr HASEGAWA is as follows; -

        Masao HASEGAWA, aged 48, is currently General Manager, Asset Management
        Planning Office of the Bank of Tokyo-Mitsubishi, Ltd. Mr. HASEGAWA
        joined The Bank of Tokyo in 1979, which merged with the Mitsubishi Bank
        in 1996 to form The Bank of Tokyo- Mitsubishi, Ltd. His professional
        experience includes several management positions in credit policy office
        and treasury business in the bank's Head Office, and asset management
        business in an affiliate of the bank in New York. Mr. HASEGAWA holds a
        Bachelor of Economics degree from Keio University.

Alastair GUNN-FORBES

Director


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