AMR Armour Grp

RNS No 2498e
ARMOUR TRUST PLC
28th January 1998


                         APPOINTMENT OF DIRECTOR

Armour Trust Plc announces that Mr Charles Montanaro was appointed to its Board
on 27 January 1998 as a non-executive director.

Charles Montanaro (42) is the founder and Chief Executive of Montanaro Holdings
Limited ("Montanaro"), the independent small companies fund manager which was
established in 1991. Montanaro manages four separate funds, primarily on behalf
of leading UK financial institutions, which total in excess of #130 million. The
Montanaro UK Smaller Companies Investment Trust Plc was launched in March 1995
and has outperformed the FTSE SmallCap Index by over 3%. It was ranked fourth
out of 36 special small company investment trusts last year, one of only nine
trusts to outperform the small companies market.

Funds under the management of Montanaro account for 18.1% of the issued share
capital of Armour Trust. In addition. Anin Investments Limited have agreed not
to sell their 8.3% holding of 3.1 million shares of Armour Trust Plc to a third
party without first offering Montanaro the right to purchase the shares on
equivalent terms.


END

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