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Caledonia Inv PLC (CLDN)

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Wednesday 28 November, 2001

Caledonia Inv PLC


Caledonia Investments PLC
28 November 2001

                          CALEDONIA INVESTMENTS PLC

                        ANNOUNCEMENT OF BOARD CHANGES

The board of Caledonia Investments plc ('Caledonia') is pleased to announce
the appointments of Charles Allen-Jones and Adrian Evans as new independent
non-executive directors.

Charles Allen-Jones was until September 2001 the senior partner of Linklaters
& Alliance, the leading UK and international law firm. Adrian Evans is
currently managing director and chief executive of the investment banking and
asset management group, Lazard, in London and chief operating officer of
Lazard worldwide. These appointments take place with immediate effect.

Caledonia also announces the following additional board changes:

  * Michael Wyatt has retired as deputy chairman, but will retain his
    executive responsibilities until the end of Caledonia's current financial
    year, after which he will remain on the board as a non-executive director;
  * James Loudon, who is currently a non-executive director, has been
    appointed non-executive deputy chairman;
  * Nigel Cayzer has ceased to be a director; and

  * Joe Burnett-Stuart, Caledonia's senior independent non-executive
    director, plans to retire at the conclusion of the next annual general
    meeting in July 2002. It is intended that another independent
    non-executive director will be appointed in due course.

Commenting on the announcement, Peter Buckley, chairman and chief executive of
Caledonia, said:

'I stated at our annual general meeting in July our intention to seek two new
independent non-executive directors and I am delighted that Charles
Allen-Jones and Adrian Evans have agreed to join our board. We look forward to
benefiting from their very considerable experience.

The board is committed to the separation of the roles of chairman and chief
executive and the new non-executive directors will play an important part in
implementing this change.'


Peter Buckley

Chairman and chief executive, Caledonia Investments plc

020 7802 8080

Citigate Dewe Rogerson

Martin Jackson

020 7638 9571


Charles Allen-Jones, age 62, was a partner of Linklaters for 33 years,
specialising in corporate and international work. During this time, he spent 5
1/2 years in Asia running the firm's Hong Kong office and 6 years as head of
Linklaters' corporate practice worldwide, before becoming senior partner in
1996. During his 10 years as senior partner, he led the firm in its
implementation of a European expansion strategy, which resulted in the
formation of Linklaters & Alliance, the largest legal practice in Europe and
one of the largest in the world.

Adrian Evans, age 60, is currently managing director and chief executive of
Lazard in London and chief operating officer of Lazard worldwide. Before
joining Lazard in 1991, he worked for Citibank in London, Ireland and New
York, First National Finance Corporation in London and Grindlays Bank, where
he supervised the Bank's interests in Europe, North America and the Far East,
becoming a managing director in 1980. In 1985, he left Grindlays Bank on his
appointment as group managing director of the Benchmark Group, a position he
held until 1991.