Fairplace Consulting PLC 24 November 2005 Announcement by the Board of Directors of Fairplace Consulting plc ("the Company") AGM Statement - Trading update and Board appointment At the Annual General Meeting to be held at 11.00 a.m. today the Chairman of the Company, Mark Allsup, will make the following statement: Further to the announcement on 9 November 2005, demand for the Company's City outplacement services remains weak. The Board now anticipates that the operating loss before goodwill for the six months to 31 December 2005 will be in excess of the operating loss for the first half of last year. Although it is too early to be clear about the outlook for the second half, and no early upturn in the City outplacement market is foreseen, a number of major new projects elsewhere in the UK are expected to come on-stream in the third quarter. In addition, while the rate of growth in talent management revenues has been slower than planned, the Board remains confident of an increased contribution from these services in the second half. The Board is delighted to announce the appointment of Ken Brotherston as a non-executive director with effect from 1 December 2005. Mr. Brotherston's role will be to assist the Board with development and implementation of strategy, including achieving an appropriate capital structure and accelerating the growth of the business. Mr. Brotherston's career has included seven years with Korn/Ferry, one of the world's largest search firms, where he was initially Managing Director of K/F Selection and subsequently President of Futurestep and a member of the firm's global operating committee. Most recently he was Executive Chairman of Morgan McKinley Group, a leading private UK recruitment company specialising in the financial services sector. Mr. Brotherston was appointed Chairman of Morgan McKinley Group by 3i in 2002 and returned the company to profitability before concluding a successful trade sale to Imprint plc in April, 2005. Mr. Brotherston has indicated that he intends to participate in the proposed placing of new ordinary shares to directors, employees and associate consultants. Christopher Hoysted, who has served as a non-executive director since 2000, did not stand for re-election at today's Annual General Meeting and steps down from the Board with immediate effect. The Company wishes to record its appreciation of his valuable contribution over the past five years. In the past five years Kenneth Brotherston, 41, has been a director of Korn/ Ferry UK Limited, Futurestep UK Limited and Morgan McKinley Group Limited, and he is currently a director of B Enterprise Limited. There are no further disclosures to be made in relation to his appointment under Schedule 2 paragraph G of the AIM rules. Enquiries: Mark Allsup, Chairman 020 7816 0707 Fairplace Consulting plc Mark Baker / Brian Thorn 020 7845 7900 The Wriglesworth Consultancy This information is provided by RNS The company news service from the London Stock Exchange