RNS Number:6243H
Darwen Capital PLC
18 February 2003

FOR IMMEDIATE RELEASE
                             18 FEBRUARY 2003


                              DARWEN CAPITAL PLC

                      ("Darwen Capital " or the "Company")


                 Jimmy Mills appointed a Non-Executive Director



Darwen Capital announces that it has appointed James ("Jimmy") Mills as a
non-executive director with effect from today (18 February 2003).



Jimmy Mills, aged 66, retired as a Director of Brewin Dolphin (a division of
Brewin Dolphin Securities Ltd) in January this year.



Jimmy began advising private clients in 1964 at Read Hurst Brown which merged
with Rowe & Pitman in 1975, which was subsequently taken over by S.G. Warburg in
"Big Bang" in 1986.  While at Rowe & Pitman, he looked after the family
investments of three consecutive senior partners and still had a number of
former partners under discretionary management until his retirement last month.
Following the takeover of Rowe & Pitman, Jimmy joined Mercury Asset Management,
the private client wing of S.G. Warburg.



In 1989 he moved to Brewin Dolphin where he managed discretionary funds of over
#30 million plus #1 million for various charities.  Until it was disbanded in
2001, he was a member of the six man advisory panel to the Stock Exchange
Centralised Pension Fund for over 10 years.  Between 1994 to 1997 he was the
Investment Director of High Peak Fund Management Ltd., when it was awarded 1st
place in the Micropal UK Unit Trust International Equity Income Sector for 1996.



David Massie, the Chairman of Darwen Capital, said:



"In Jimmy Mills we have one of the outstanding private client stockbrokers of
recent years who, alongside Peter Seabrook, who has over twenty years experience
as an investment manager, provides the Board with two excellent "stock pickers"
who will be working with us to seek undervalued situations."



For further information:



Darwen Capital plc
David Massie, Executive Chairman                               020 7647 1700


Beattie Financial
Brian Coleman Smith/James Chandler                             020 7398 3300



Keith, Bayley, Rogers & Co. Limited
Howard Drummon                                                 020 7871 2232


The following are current and former directorships of Jimmy Mills in the
previous five years:



Full name James Alfred Mills


Current Directorships                                Former Directorships

Darwen Capital PLC                                   Brewin Dolphin (a division of Brewin Dolphin
                                                     Securities Ltd)
                                                     High Peak Fund Management Ltd



There are no other matters to be disclosed under paragraph 6.F.2 of the Listing

Rules.



NOTES TO EDITORS:



Darwen Capital plc

Darwen Capital was formed on 1st October 2002 to take advantage of opportunities
to acquire, or invest in, established companies whose shares are traded on a
recognised exchange in the UK or the Republic of Ireland.  Darwen will look at
companies where the current market capitalisation does not, in the opinion of
Darwen, reflect the underlying value, and where Darwen believes that it can be
pro-active in facilitating change, and unlocking a higher value.



It is Darwen's belief that, in present market conditions, good opportunities
exist for taking significant equity positions in a limited spread of companies,
which in their opinion, are undervalued.  Such investment opportunities will be
selected with a view to assisting in either the exploitation of growth potential
or the realisation of assets to the point where profitable realisations can be
achieved by merger or sale.



Investment Strategy

Investment and acquisition propositions will be considered wherever Darwen
perceives that enhanced values may be achieved.  The Directors of Darwen are
experienced in evaluating acquisition and investment prospects, quoted and
unquoted, both in the UK and overseas.  The prime objective will be to select
investments with the potential to show a good return.  A particular
consideration will be to identify companies which are, in the opinion of the
Directors, under-performing or undervalued, and where the Directors believe that
their expertise and experience can be deployed to facilitate growth or unlock
inherent value.



It is a clear policy that Darwen will be an involved and active investor.
Accordingly, where necessary, Darwen may seek participation at a management or
Board level of an investee company in order to improve performance and the use
of assets resulting in an upward re-rating of the value of the investee
companies.



It is likely that a substantial portion of resources will be invested in a small
number of propositions.   The Directors consider that it is probable that, as
investments are made, and new promising investment opportunities arise, further
funding of the Company will be required.



Dividend Policy

The Ordinary Shares will rank in full for all dividends or other distributions
declared, paid or made in respect of the share capital of Darwen.  The Directors
intend that the Darwen should aim for a blend of capital growth and income and
propose to re-invest a proportion of future profits.



The Directors anticipate that, in future years, it may be appropriate to
distribute some 25% of realised profits for the year by way of dividends.
However, the nature of Darwen's business is such that distributable profits are
likely to fluctuate widely from year to year.




                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

BOAGCGDDDUBGGXI