GAI Galileo Inn.

RNS Number:1113Y
Galileo Innovation PLC
3 July 2002






Press Release                                  3 July 2002






                             Galileo Innovation plc

                  Change of Advisor and Directorate change



Galileo Innovation plc, the Cheshire-based business accelerator, is pleased to
announce the appointment of KBC Peel Hunt Ltd as Nominated Adviser and Broker
with immediate effect.



The Board of Galileo announces the appointment with immediate effect of Lord
Lamont of Lerwick as Chairman, replacing Angus Monro.  Paul Davidson has been
appointed to the Board as Chief Executive Officer, replacing Martin Varley who
will remain as a consultant to the Company.



Sir Anthony Jolliffe, non-executive director of Galileo Innovation plc, said:  "
I am delighted to welcome both Lord Lamont and Paul Davidson to the Board of
Galileo.  Paul knows first hand how to create thriving companies and Lord Lamont
shares our views of the Company's prospects and opportunities.  Both will
contribute greatly to growing and expanding the business, as Galileo continues
to back visionary ideas and people.



"On behalf of the Board, I would like to thank Angus for his valued contribution
and hard work in establishing the Company and sourcing the initial technologies.
I look forward to continuing to work with Martin in his new role."



Galileo's first investment, Fluid Conditioning Systems, which has developed
replenishable oil solutions in the automotive, hydraulic and wider engineering
systems is moving quickly towards wider commercial availability.   Another
growth business within the portfolio is Scientific Detectors, which has created
a unique analytical instrument for use in many industries worldwide including
pharmaceutical, petrochemical, food and chemical.

Galileo is currently reviewing a number of further potential investments.  The
flow of good, viable innovations and inventions remains strong.


Matters for disclosure under paragraph 15 of the AIM Rules with respect to the
appointment of Lord Lamont of Lerwick as Chairman, and Paul Davidson as Chief
Executive Officer and Director of Galileo Innovation plc:

Full name:                                Lord Lamont of Lerwick
Age:                                      60
Current directorships:                    British Romanian Chamber of Commerce
                                          Balli Group PLC
                                          Clarges Energy Limited
                                          Indonesia Fund Limited
                                          JFIT Securities Limited
                                          Jupiter Financial & Income Trust plc
                                          World-Wide Holdings Limited
                                          World-Wide Reassurance Company Limited

Directorships held within the last 5      First Philippine Investment Trust plc
years:
                                          First Philippine Securities Limited
                                          IFL Securities Limited
                                          Jupiter European Investment Trust plc
                                          North American Gas Investment Trust plc
                                          Taiwan Investment Trust Securities
                                          Limited
                                          Taiwan Investment Trust plc


Full name:                                Paul Anthony Davidson
Age:                                      46
Current directorships:                    Bag in a Box Limited
                                          Davidson Innovation Limited
                                          Easyrad Limited
                                          Galileo Innovation plc
                                          Independent Played Research Limited
                                          Inventors and Investors Limited
                                          Paul Davidson plc
                                          PD Property Developments Limited
                                          PD Property Investments Limited

                                          Venturefocus Limited
Directorships held within the last 5      Bradley Martin Specialist Cars
years:
                                          Cyprotex Discovery Limited
                                          Davidson Tools Limited
                                          DS One Architects Limited
                                          Laurjam Limited
                                          MWE Softdrinks Limited
                                          Oystertec plc
                                          Sense-Sonic Limited



There are no further matters which are required to be announced with regards to
these appointments as outlined under paragraph (f) of Schedule 2 of the AIM
rules.



                                    - Ends -



Issued by:


Galileo Innovation plc

Sir Anthony Jolliffe, non-executive         Tel: + 44 (0) 1625 538 100
director
Email: anthony@jolliffe.org                www.galileoinnovation.co.uk



For further information, please contact:


KBC Peel Hunt Ltd

Charles Peel, Chairman                      Tel: + 44 (0) 20 7418 8900

Email: charles.peel@kbcpeelhunt.com


Capel Irwin, Corporate Finance

Email: capel.irwin@kbcpeelhunt.com                  www.kbcpeelhunt.com





Media Enquiries:


Bankside Consultants Limited

Henry Harrison-Topham / Heather Salmond        Tel: +44 (0) 20 7444 4140
Email: henry.ht@bankside.com                            www.bankside.com





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