Change of Auditor

Yule Catto & Co PLC
24 July 2002


                                                                    24 July 2002


                       Yule Catto & Co plc ('Yule Catto')

              Yule Catto to appoint Deloitte & Touche as auditors

Yule Catto announces that following a thorough review process and consideration
by the Audit Committee it proposes to appoint Deloitte & Touche as its auditors
in place of Arthur Andersen.

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