Resignation of Non-Executive Directors

19 May 2011

Cavanagh Group plc ("Cavanagh" or the "Company")

Resignation of Non-Executive Directors

Further to the announcement released on 16 May 2011 regarding the wholly unconditional offer for Cavanagh by Close Asset Management Holdings Limited, the Company notifies shareholders that Paul Hogarth and Paul Sinnett, the Non-Executive Directors of the Company, have resigned with immediate effect, as previously agreed.

For further information:

Cavanagh

Brewin Dolphin (nominated adviser and financial adviser to Cavanagh)