MNT Minmet

    


Minmet plc



                                   Minmet plc

                           ("Minmet" or the "Company")

                               Directorate Changes

Minmet, the AIM quoted resources company, is very pleased to announce that its
former Chairman, Michael Neville, has been reappointed as Executive Chairman of
the Company. In addition, John Liwosz, who was a former non executive Director
of the Company, has also been appointed to the Board of the Company as an
Executive Director. Both Michael Neville and John Liwosz (together the "New
Board") have significant and valuable experience in senior corporate roles at
PLC level, and also have extensive experience in the AIM market.

Michael Neville specialises in strategy, mergers and acquisitions and turn
around situations. He has extensive experience in the capital markets and is a
director of a number of private and public companies. He is currently Chairman
of Telephonetics plc, an AIM company specialising in speech solutions in the
corporate sector. He has in the past worked for companies such as Cable and
Wireless plc, United Utilities PLC and other high profile organisations, and
he has been involved in large and small scale fund raisings as well as numerous
corporate transactions in various parts of the world.

John Liwosz trained as an engineer in the auto and aircraft industry. After a
period in technical publishing, Mr. Liwosz spent fifteen years in senior
management positions in the telecoms industry, including the role of deputy
Managing Director at Norweb Telecom, part of United Utilities Plc. John has been
and is a director of a number of private and public companies advising on
commercial and financial strategy.

The Company also announces that, ahead of the Company's EGM in Dublin later
today, Peter Maddocks, Jonathan King, Denis Barrett and Peter Gardener have
stepped down with immediate effect. Notwithstanding this, today's EGM, which had
been convened to consider the removal from the Board of Messrs. Maddocks, King,
Barrett and Gardener with immediate effect, will take place as previously
announced.

Messrs Maddocks, King and Barrett will continue in operational roles with the
Company. In particular, Messrs King and Barrett will be seconded to the
Tucumcari project, to which Minmet has already committed significant resources.

The New Board intends to appoint a new senior independent non-executive director
as soon as an appropriate candidate can be identified.

Commenting on the Board changes, Executive Chairman Michael Neville said:

"We are very pleased to serve again on the Board of Minnet. I would like to
thank all parties involved in allowing such a smooth transition from one Board
to the next. Ex Directors, shareholders and advisers have all worked very hard
to make this happen in a short time.

"We are also delighted that Jon, Denis and Peter will continue to work to add
value to Minmet and its shareholders by moving over to the Tucumcari project.
They will use their expertise on this project to the benefit of the Company and
its shareholders.

"Developing a gas field through to monetisation and production needs a high
quality oil and gas operational management team. We are confident that Jon and
Denis can drive this project forward successfully.

"The New Board will now focus on creating maximum value for shareholders,
through the Company's current investments and any other potential opportunities
which the Board deems attractive.

"The New Board will seek to ensure that shareholders are updated regularly on
progress within the business. We look forward to working with all parties to
take Minmet on to a positive future".


For further enquiries:

Minmet plc                                        +353 (01) 661 3309
 Michael Neville, Chairman

College Hill, Public Relations                    +44 (0) 20 7457 2020
 Nick Elwes
 Paddy Blewer

Nabarro Wells & Co. Limited (Nominated Adviser)   +44 (0) 20 7634 4705
 Hugh Oram / Kevin Lynch

Michael Patrick Neville, aged 54, is a director or has been a director of the
following companies during the previous five years;

Current Directorships                     Past Directorships
----------------------------------------- -----------------------------------------
Aston Villa Investments Limited           Avorta Limited
Besbury Limited                           Atlas Group of Companies
Bring Back Limited                        Besbury Consultancy Limited
Cellcast plc                              Eckoh plc
Crucial Plan plc                          Felix Group plc
GMO plc                                   Felix Corporation Limited
Green Symbol Limited                      Freecom.net Limited
Telephonetics plc                         Intelliplus plc
Trade Sound Limited                       Kamera Interactive UK Limited
                                          Kamera Holding AB
                                          Lost It Limited
                                          Medius Networks Limited
                                          Minmet plc
                                          One World Interactive Holdings Limited
                                          One World Interactive Management Limited
                                          One World Interactive Limited
                                          Swwwoosh Limited
                                          Virtue Broadcasting (Holdings) Limited
                                          Virtue Communications Limited
                                          Virtue Corporate Services Limited
                                          World Television Limited
                                          World Television plc

Michael Neville was a director of OnCue Telecommunications Limited until May
2001, which company entered into administration on 28 June 2001. He was also a
director of Integrated Media Technologies plc until August 2001, which company
entered into creditors voluntary liquidation on 30 October 2001.

John Francis Liwosz, aged 47, is a director or has been a director of the
following companies during the previous five years;

Current Directorships                     Past Directorships
----------------------------------------- -----------------------------------------
Crucial Plan plc                          Felix Group plc
JMI Consulting Limited                    Felix Corporation Limited
Prestwich Golf Company (Trust) Limited    Minmet plc

John Liwosz was a director of OnCue Telecommunications Limited until May 2001,
which company entered into administration on 28 June 2001.

There is no further information to be disclosed regarding Mr. Neville or Liwosz
under Schedule 2(g) of the AIM Rules.

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