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Grafton Group ends relationship with KPMG

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Grafton Group plc today announces changes to its Board and a change of auditor.

Mr. Roderick Ryan, currently Chairman of the Audit and Risk Committee and Senior Independent Director, will step down from the Board on 31 December 2015 after almost ten years of service as Non-Executive Director. Mr. Ryan will be succeeded as Chairman of the Audit and Risk Committee by Mr. Paul Hampden Smith, who joined the Board in August 2015, and by Ms. Annette Flynn, who joined the Board in March 2011, as Senior Independent Director.

Michael Chadwick, Chairman of Grafton Group plc commented:

"Roddy has been a Non-Executive Director of Grafton since 2006. He has made a very substantial contribution to the Board especially during the difficult years of the financial crisis. His business experience and judgment have been of great benefit to the Group. On behalf of the Board, I thank him for his distinguished service and offer him our best wishes for the future."

The Group noted in the 2014 Annual Report that, in line with best practice, it planned to carry out a competitive audit tender process during 2015. This process has now concluded and, following a recommendation by the Audit and Risk Committee, the Board has appointed PricewaterhouseCoopers ("PwC") as auditor. The appointment will take effect for the financial year ending 31 December 2016.

The Board would like to thank KPMG for their service as auditor to the Group over a long period and looks forward to working with PwC in the future.

Source : Grafton Group Press release

12 October 2015

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