Rurelec appoints Colin Emson as Non-Executive Chairman and Brian Rowbotham as Senior Independent Non-Executive Director

– UK – Rurelec PLC (AIM: RUR), the owner, operator and developer of power generation capacity internationally, is pleased to announce the following changes to the Board:

  • · The appointment of Andrew Morris, the current Non-Executive Chairman, as Group Finance Director
  • · Elizabeth Shaw, will now focus on financing operations in South America
  • · Colin Emson joins the Board as Non-Executive Chairman
  • · Brian Rowbotham is appointed as Senior Independent Non-Executive Director

As a result of these changes to the Board the Audit, Remuneration and Nomination Committees will now comprise:

  • · Audit Committee – Brian Rowbotham (Chairman), Colin Emson and Larry Coben
  • · Remuneration Committee – Larry Coben (Chairman), Colin Emson and Brian Rowbotham
  • · Nomination Committee – Colin Emson (Chairman), Larry Coben and Brian Rowbotham

Commenting on the appointments, Peter Earl, Chief Executive Officer said: “I am pleased to say that with the new developments of the Rurelec Group in South America and as the Company continues to grow, we have reorganised our Board of Directors to ensure that we have the strength in depth to deliver the corporate strategy in a demanding environment. To that end Liz (Elizabeth Shaw) will now be taking on a more focused role in funding our developments in South America whilst Andrew concentrates on the operational finance role as Group Finance Director.

“We are also delighted to welcome both Colin and Brian to the Board of Rurelec. They bring with them a wealth of experience and expertise and will be a great asset to the Company. We very much look forward to working with them.”

Colin Emson has been the Executive Director of the Robert Fraser Group since 1979, dealing with commercial loans and merchant banking, corporate finance, ship owning and finance, Lloyds of London insurance broking, property investment syndication and finance, investment company acquisitions and mergers, hotel owning and development. He is a designated member of the business consulting firm Robert Fraser & Partners LLP and was co-founder in 1967 of the specialist finance, insurance broking and investment consultancy Emson & Dudley. He is also Chairman and a director since 1988 of Sterling Trust Limited (“Sterling Trust”). Sterling Trust holds 303,942,303 Ordinary Shares of 2p each in Rurelec, amounting to 54.775% of the issued share capital of the Company. Mr Emson is a not a beneficiary of Sterling Trust.

Brian Rowbotham qualified as a Chartered Accountant with Deloitte and Touche and is a Fellow of the Institute of Chartered Accountants in England and Wales. His early career in the City included roles at Save & Prosper and F&C Management Ltd. In 1997 he joined Teather & Greenwood where, as a partner and then Finance Director, he was involved in the company’s flotation on AIM and subsequent move to the Official List. Mr Rowbotham also ran his own consultancy specialising in turnarounds and start-ups until joining Hichens, Harrison & Co. Plc in January 2005.

About Rurelec

Rurelec PLC (“Rurelec”) is a company incorporated in England & Wales established to develop, own and operate power generation capacity in Latin America. Quoted on the AIM Market of the London Stock Exchange PLC since August 2004, Rurelec is managed by a team with a strong track record in developing power projects worldwide and with considerable experience in the electricity sector in Latin America.

Rurelec’s main business consists in the ownership and development of power generation facilities on the national grid and in isolated areas, selling electricity on commercial terms. The Company is now a significant power generator in Bolivia and Argentina. In 2007 installed capacity was increased by around 20% via the development of new power projects. By the end of 2008 installed capacity is set to reach 545 MW.

Further growth is planned and the Company is targeting expansion into Chile and Peru in the future.

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