Phil Cartmell is appointed Executive Chairman with immediate effect.

Corac announces that following Professor Gerry Musgrave stepping down from the Board at the AGM on 24 June 2010, Phil Cartmell will combine the roles of Chief Executive Officer and Chairman and is appointed Executive Chairman with immediate effect.

Corac continues to review the options for appointing additional Non Executive Directors to join the Board, but has no plans to make any changes at the current time.