Baker Steel Resources Trust Ltd. announced that Mr. Charles Hansard has informed the Board of the company of a commercial relationship he has entered into with the Manager. On consideration, the Board believes that he may no longer be deemed as wholly independent under the UK Corporate Governance Code and Mr. Hansard has therefore stepped down from the Audit Committee with immediate effect. He has been replaced by Mr. Chris Sherwell as Chairman and Mr. Clive Newall has also joined the Audit Committee.