Change of Role for Dominion Finance Holdings CEO

August 2nd 2006

Change of Role for Dominion Finance Holdings CEO

Chief Executive Officer of Dominion Finance Holdings Limited Terry Butler will be relinquishing his role of C.E.O. of the Group later this year to take up the new position of Deputy Chairman.

Mr Butler says his new role for the Group will encompass strategic planning and merger and acquisition opportunities.

“The Directors expect there will be continuing change in the non-bank finance sector with increased reporting and new securities regulations as well as the implementation of International Financial Reporting Standards early next year, and this will create further opportunities for Dominion Finance as some finance companies seek to exit the industry.”

Chairman Rick Bettle said: “This new role will allow Terry the time to fully analyse current and future opportunities which are being presented to the company. The Directors consider it vitally important to ensure that all opportunities are fully investigated but not at the expense of the existing business. We have seen recent incidences of the damage caused when the eye is taken off the ball.”

A replacement Group C.E.O. has been appointed but because of confidentiality and employment issues cannot be named at this time but the company expects to be able to make this announcement early September with a commencement date early October.

“The appointee is highly qualified and has wide experience in the banking and finance company sector at a very senior level and will be a further boost to the highly skilled team at Dominion Finance Holdings Group,” said Mr Butler.

ENDS

© Scoop Media