Marconi Names New CFO 593762

LONDON -- Marconi Corporation plc (London: MONI) announces thatit has today appointed Pavi Binning as Chief Financial Officer. Pavi, 43, willtake up the role on his departure from Diageo Plc, which is anticipated to be inOctober 2003. Chris Holden who first joined Marconi as interim Group FinancialController in August 2002, and who later agreed to take on the CFO role on aninterim basis, has accepted the Group Financial Controller position on apermanent basis. Pavi Binning will join the Board of Marconi Corporation plc atthe time he joins the Company and Chris Holden will leave the Board at thattime. Pavi will be granted five million options under the Marconi CorporationSenior Management Share Option Plan.

Pavi Binning joined Diageo Plc in 1986 and has performed a number of seniorcorporate and operational finance roles for the company, most recently asCorporate Finance Director, Group Financial Controller, CFO Europe and CFOAmericas. Prior to Diageo Pavi worked for Solex Plc and Electrolux Ltd. He is amember of the Chartered Institute of Management Accountants (1982).

'Pavi Binning will make an excellent CFO for Marconi,' said John Devaney,Chairman of Marconi Corporation plc. 'We are fortunate to have been able tochoose the best from some very high quality candidates. I am also delighted thatChris Holden, who has done a superb job and helped the Company through a complexand arduous refinancing, has agreed to remain in place as Group FinancialController, a role in which he has already shown that he excels.'

Marconi Corp. plc