Rose Petroleum plc

Appointment of Chairman


Appointment of Chairman

VANE announces the appointment of Sir Richard Francis Needham, 67, as Non-executive Chairman of the Company, with effect from today.

Sir Richard has significant public company Board experience, and is currently Chairman of Avon Rubber Plc, Vice Chairman of NEC Europe and a Director of Dyson Limited. Previously he has been a Director of GEC Plc, Meggitt Plc and he was chairman of Biocompatibles Plc for six years.

Sir Richard was a Member of Parliament for 18 years and a Minister for 10 years. He spent seven years from 1985-1992 as the Minister responsible for the regeneration of Northern Ireland's economy. During that time, he privatised Northern Ireland's electricity service and was the provinces Minister for Energy. In 1992 Sir Richard was subsequently promoted to Minister of Trade where he was responsible, under Michael Heseltine, for restructuring the UK's external trade and export strategy. During this period he took trade missions, many of them energy related, to 42 different countries.

The combination of international business experience and running major departments of Government will bring to VANE experiences and contacts which they do not currently possess. VANE has a producing silver/gold asset in Mexico that helps supports uranium and copper exploration in the United States. Uranium exploration is highly specialised and represents one of the key potential alternative fuels to hydrocarbon electricity generation available to Governments today.

Sir Richard will be based in the UK and will assist in the Company's strategic development, while overseeing the interests of shareholders. As VANE develops its uranium assets towards production, Sir Richard will assist in building relationships with global customers and Governments in the US and around the world.

Commenting today Steve Van Nort, CEO of VANE Minerals, said:

"We are delighted to welcome Sir Richard to the Board; he will bring with him a wealth of experience of international business and in the running of UK public listed companies. While our uranium exploration and silver/gold production operations are based in the Americas, our core shareholder base is in the UK, trading on AIM. Sir Richard Needham is an important addition to the VANE Board and will help us to determine and communicate the best long-term growth strategy to derive maximum value for all shareholders."

Sir Richard Needham went on to say:

"I look forward to working with the Board of VANE as I believe it has significant opportunities in the promotion of clean energy supply. VANE has an expert team capable of identifying and developing uranium, copper and gold assets. My role will be to help the development of the company, bringing in my broad international and political expertise".

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