Board appointments

Angus & Ross plc (the “Company”)

Following the approval of certain resolutions at today’s general meeting the Company can announce the appointments of Frank Chapman as Non-executive Chairman and Daniel Bordessa as Non-executive Director to the board of directors of the Company, effective immediately.

Francis (Frank) David Sherston Chapman, aged 59. Frank is currently chief executive officer of London Capital Group plc, the AIM-quoted trading services company, having joined the board of that company in October 2003 and was appointed managing director in May 2004. He has over 30 years' experience in the London derivative and FX markets, having previously been a director or managing director of a number of companies including London Investment Trust, Baring Securities, Deutsche Morgan Grenfell and Amerex Petroleum.

Frank is currently a director of the following companies:

• Capital Enquiries Ltd
• Capital Forex Ltd
• Capital Global Derivatives Ltd
• Capital Investment Management Ltd
• Capital Spreads Limited
• London Capital Group Holdings plc
• London Capital Group Limited
• Tradex Enterprises Limited

He was previously a non-executive director of the Company having stepped down on 4 June, 2008.

Frank currently holds 1,000,000 ordinary shares of 1 penny each in the Company, representing 0.40 per cent. of the current issued ordinary share capital of the Company and 0.12 per cent. of the enlarged voting rights of the Company following the issue of the B Share to FBC Holdings S.à.r.l., details of which are set out in the circular to shareholders dated 5 August, 2009.

Once the Nalunaq Gold Mine project is generating cash for the Company, Frank will be entitled to a fee of £1,000 per month.

Daniel John Bordessa BCom, MBA, aged 36. Daniel is a Managing Director at Cyrus Capital Partners Europe LLP ("CCPE") where he is responsible for identifying and managing European and North American investments. Prior to joining CCPE, he was an Executive Director at the international investment bank Lazard where he was responsible for advising companies in relation to financial restructurings and mergers & acquisitions. In addition, Daniel has experience in Canada in investment banking and advisory services.

Daniel is currently a director or partner of the following companies:

• Cyrus Capital Partners Limited
• Ingenious Film Partners LLP
• Ingenious Film Partners 2 LLP
• Melford International Terminals, Inc.
• TAD Holdings AS

Cyrus Capital Partners, LP is considered a related party pursuant to the AIM Rules for Companies. In accordance with Schedule Four, the Company can announce that Daniel has been appointed as a non-executive Director pursuant to the terms of a letter of appointment dated 5 August 2009. His appointment with the Company follows the general meeting held earlier today and will be terminable by Daniel giving notice in writing with immediate effect and by the Company on three months’ written notice. Once the Nalunaq Gold Mine project is generating cash for the Company, Daniel will be entitled to a fee of £1,000 per month.

There is no further information required to be disclosed pursuant to the AIM Rules for Companies.

Chief Executive Officer, Nicholas Hall, comments: “I am delighted that we are able to announce the appointment of both Frank and Dan as I know that they will make a significant contribution to the future development of the Company. Thanks to this step forward we now have the elements of a highly professional and well balanced board that will guide and direct the executive management and strengthen the Company’s levels of corporate governance.”

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