RNS Number:1644I
MG Capital PLC
28 February 2003


                                 MG Capital plc

                                 Board changes


Lindsay Colless has been appointed to the Board of MG Capital with immediate
effect.

Mr Colless is a director of Newland Resources Limited, which holds 28.3 per
cent. of the issued share capital of the Company. He is also a director of
Alkane Exploration Ltd, Brisbane Petroleum NL, West Australian Metals Ltd,
Pancontinental Oil & Gas NL, South Boulder Mines Ltd, Mineral Administration
Services Pty Ltd, Hedgehog Investments Pty Ltd, Northern Star Resources Ltd, and
Resources Services Ltd.  There are no other disclosures required in respect of
Mr Colless under Schedule 2 (f) of the AIM Rules.

David Gould and Anthony Regan have resigned as Directors of the Company.


28 February, 2003

Enquiries

MG Capital plc 020 7332 2040
Charles Fowler, Chairman


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