Proposed Appointment of Non-executive Director

04 March 2013

Carpathian PLC

("Carpathian" or the "Company")

Proposed Appointment of Non-executive Director

Further to the announcement and circular sent to shareholders on 8 February 2013 the Company is pleased to announce that, subject to all of the resolutions being passed at the Extraordinary General Meeting of the Company to be held on 8 March 2013, Nicholas Woolard ACIB MCSI will be appointed to the board as a Non-executive Director.

Nicholas James Woolard, aged 54, is a finance industry professional with broad offshore experience focused latterly on compliance, having been a Group Compliance Officer for four years in CSP/TSP, fund administration, fund management and stockbroking businesses before being appointed to various non-executive positions. Currently Mr Woolard is a non-executive director of five companies; two public and three private. He became a member of the panel of Adjudicators to the Financial Services Ombudsman Scheme (of the Isle of Man) in March 2012.

A further announcement will be made on 8 March 2013 to disclose the outcome of the Extraordinary General Meeting. Subject to the appointment becoming effective, that announcement will also include full particulars of the directorships of Mr Woolard.

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