Appointment of Group Finance Director

Gleeson (GLE.L), which is transforming itself into a specialist in housing regeneration, announces the appointment of a Group Finance Director and the resignation of an Interim Executive Director.

Appointment of Group Finance Director

Gleeson is pleased to announce the appointment as Group Finance Director of Chris Holt, who since August 2006 has been the Interim Group Finance Director. The appointment follows a competitive selection process involving external consultants and is effective 1 May 2007.

Nicholas Christopher Holt, BSc, MBA, CIMA, aged 55, has obtained widespread financial experience over 30 years with internationally renowned businesses, namely Foster Wheeler (1987-2005), Bechtel (1975-87) and British Oxygen (1972-75).

At Foster Wheeler, the global engineering and construction contractor and power equipment supplier, Chris  was most recently  Chief Financial Officer of its European Power business based in Helsinki, Finland, with c €400m turnover and 1,700  employees based in Finland, Germany, Poland, Sweden, Spain and Thailand. Previously, Chris was Group Finance Director and Deputy Chairman of Foster Wheeler UK Ltd, a £ 500m turnover business, with c3,000 employees. His 12 years at Bechtel, one of the world's premier engineering, construction and project management companies, had culminated in two years as Finance Director, Oil & Gas, for the EMEA region.

Dermot Gleeson, Chairman, stated "Chris joined us in May 2006 to help out with the complex matter of the disposal of Gleeson's Engineering Division, which was successfully achieved in October 2006. He was soon providing invaluable support to our Group Chief Executive, Paul Wallwork, in the implementation of Gleeson's wider programme of strategic change. Chris' extensive experience with top companies and his track record with Gleeson to date, dealing with both areas of future focus and legacy businesses, qualify him admirably to assume a permanent role."

Chris Holt has held no directorship in any other publicly quoted company at any time in the previous five years and there are no details to be disclosed under paragraph 9.6.13 R of the Listing Rules.

Resignation of an Interim Executive Director

Gleeson announces the resignation as Interim Executive Director of Edwin Lawrie, ACII, FIRM, ACIS, who has held that position since August 2006, during which time Paul Wallwork has been the Company's only non-Interim Executive Director.  Mr Lawrie continues as Company Secretary, with the Board's thanks for his standing in as an Executive Director.