Directorate Change

Mercia Asset Management PLC

("Mercia", the "Company" or the "Group")

Directorate change

Mercia Asset Management PLC (AIM: MERC), the regionally focused, private capital asset manager with c.£2.0billion of assets under management, is pleased to announce the appointment of Penny Freer as a Non-executive Director of the Company with effect from today.

Chair of AP Ventures LLP, Penny is also a Non-executive Director of FTSE 100 company The Weir Group PLC and Chair of The Henderson Smaller Companies Investment Trust plc. Penny has previously held a number of Non-executive Director roles in both public and private companies, including as Chair of Crown Place VCT Plc and Senior Independent Director and Chair of the Remuneration Committee at Advanced Medical Solutions Group PLC.

Ian Metcalfe OBE, DL, Non-executive Chair of Mercia said:

"We are delighted to welcome Penny to the Board as a Non-executive Director. Penny is an extremely experienced Non-executive Director and chair of remuneration committees, with deep experience of the fund management sector. Penny's appointment completes the current evolution of the Board, and I look forward to working with my fellow Board colleagues as we remain focused on the Mercia '27 strategic objectives."

Pursuant to Schedule 2(g) of the AIM Rules for Companies, Penelope Anne Freer (aged 65) has held the following directorships and partnerships in the last five years:

Current directorships

• AP Ventures LLP
• Capital Markets Strategy Limited
• Cobweb Cyber Limited
• Pure Milk Vodka Ltd
• The Henderson Smaller Companies Investment Trust PLC
• Weir Group PLC (The)
• 81 Alderney Street Residents Association Limited

Former directorships

• Crown Place VCT PLC (name changed to Albion Crown VCT PLC)
• Advanced Medical Solutions Group PLC
• Empresaria Group PLC
• London Bridge Capital Partners LLP

Penny Freer was appointed a Director of Peacock Blue Limited ("Peacock Blue") on 18 August 2005. At the time of appointment, Peacock Blue was subject to a company voluntary agreement as agreed with creditors. On 17 January 2007 administrators were appointed to Peacock Blue. On 13 August 2007 Peacock Blue moved from administration to a creditors' voluntary liquidation, and on 6 November 2010 Peacock Blue was dissolved.

Penny Freer does not hold any shares in the Company.