Caledonia Regulatory News (CLDN)

Announcement of board and committee changes

The Board of Caledonia Investments plc ("Caledonia" or the "Company") is pleased to announce the following changes to its board and committee membership.

David Stewart and Shonaid Jemmett-Page are appointed as independent non-executive directors, David with immediate effect and Shonaid with effect from 1 July 2015.

David began his career at Swire Pacific in 1981, working in various roles in Australia, Thailand, the Philippines and Hong Kong. In 1986 he moved into the financial sector, first to James Capel, where he set up and managed research and sales desks in London and Tokyo specialising in Asian derivatives products, and then in 1995 to Fidelity Investments, where he was head of its emerging markets funds and then president of its Institutional UK/EMEA business. In 2005, David joined Odey Asset Management as Chief Executive Officer, a position he held for eight years before moving to a non-executive director role from 2013 to 2014. David is currently Chairman and a co-founder of IMM Associates and a non-executive executive adviser to the board of Knight Frank.

David will join Caledonia's Audit, Nomination and Remuneration Committees.

Shonaid Jemmett-Page spent the first twenty years of her career at KPMG in London and Tokyo, rising to the position of Partner, Financial Services. In 2001, she moved to Unilever, where she was Senior Vice President, Finance and Information for Asia, based in Singapore, before returning to the UK as Finance Director for Unilever's global non-food business. In 2009, Shonaid joined CDC Group as Chief Operating Officer, a position she held until 2012. Since then, Shonaid has focussed on non-executive appointments and is currently a non-executive director and chair of the audit committee of GKN, APR Energy, Amlin, Origo Partners and Greencoat UK Wind. Within the past five years she has also held non-executive directorships of Havelock Europa and Close Brothers Group.

Shonaid will join Caledonia's Governance, Nomination and Remuneration Committees.

As announced in May of last year, Charles Allen-Jones had indicated a wish to step down from the board and he has retired with immediate effect. He is replaced as Senior Independent Non-Executive Director and Chairman of the Governance Committee by Charles Gregson, who will cease to be a member of the Audit Committee. Stuart Bridges is also appointed a member of the Governance Committee.

Commenting on the board changes, Rod Kent, Chairman of Caledonia, said:

"I am delighted that David Stewart and Shonaid Jemmett-Page have agreed to join Caledonia as independent non-executive directors. They both bring a wealth of experience in international business and investment, particularly in Asia and emerging markets, which will be of considerable benefit to our board.

I would also like to thank Charles Allen-Jones for the enormous contribution that he has made to the Company over the past 13 years, particularly as Senior Independent Director. His wise counsel will be greatly missed and we wish him well in his retirement."

Enquiries

Caledonia Investments plc

Rod Kent (Chairman)

Tel: +44 20 7802 8080

Tulchan Communications

Peter Hewer

Tel: +44 20 7353 4200

18 March 2015

There are no details relating to David Stewart or Shonaid Jemmett-Page which require disclosure under Listing Rule 9.6.13 (2) to (6).

In accordance with section 430 (2B) of the Companies Act 2006, Caledonia confirms that, other than fees payable to him up to the date of his retirement, no remuneration or payment has been or will be made in connection with Charles Allen-Jones ceasing to be a director of the Company.

END