FBH.L Regulatory News (FBH)

FBD Holdings plc

30 March 2011

Directorate Changes

FBD Holdings plc ("FBD" or the "Company") wishes to announce the intended retirement dates of two of its longest serving non-executive Directors, Mr. John Donnelly and Dr. Patrick O'Keeffe.

During 2010, in recognition of the Board's commitment to compliance with the Combined Code (and subsequently the UK Corporate Governance Code) in every respect, the Nomination Committee of the Board commenced a careful review of the Board's composition and that of its Committees. This review was designed with the intention that the composition of the Board, and its Committees, ensures an appropriate mix of independence together with the specific required skills and experience. While the Board believes that it is the strength of character, integrity and judgement of an individual Director which determines his or her independence, it is also mindful that certain of its non-executive Directors do not meet all of the indicators of independence set out in the UK Corporate Governance Code.

Consequently, the Board has embarked on a programme of refreshment to ensure that the Board will comprise a majority of non-executive Directors who meet the independence criteria of the UK Corporate Governance Code in every respect and who have the appropriate range of skills and experience.

In order to advance the refreshment process, Mr. Donnelly and Dr. O'Keeffe have informed the Company that they both intend to retire from the Board at the close of the meeting of the Board scheduled for 29 August 2011. The Nomination Committee has commenced the process of identifying individuals with the appropriate skills and experience for appointment to the Board in the near future.

Commenting on the decisions of Mr. Donnelly and Dr. O'Keeffe, Michael Berkery, Chairman, said:

"John Donnelly has been a non-executive Director of the Company since 1988 and his passion for FBD, our shareholders and our customers has never waned over this time. His input into the deliberations of the Board and his in-depth knowledge and understanding of our founding shareholders and key customers - the farming community - have been of immense benefit.

It is not possible to overstate the enormous contribution which Paddy O'Keeffe has made to the Board of FBD and to the development of the Group since its foundation. His vision, energy and entrepreneurial spirit are as evident today as they were when he played such a key role in the foundation of FBD. The Company and the Board are very grateful to him for his distinguished service over this time.

Both John and Paddy are recommended by the Board for re-election at the Annual General Meeting scheduled for 29 April 2011. They will leave the Board on 29 August 2011 with our very best wishes for the future."

For Enquiries