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1PM plc (OPM)

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Wednesday 02 August, 2006

1PM plc

Admission to Trading on AIM

2 August 2006

                                     1pm plc
                            ("1pm" or the "Company")

                                ADMISSION TO AIM

                                   KEY POINTS

·    1pm plc is a specialist asset finance provider within the  high growth Sub-
  Prime sector

·    Dealings on AIM commence today

·    £1.3 million (before expenses) raised via a Placing of approximately 44% of
  the Company's issued share capital. This represents all new money as none of the
  directors is selling shares

·     1pm  began  trading  in  2001 and was founded by Tony  Williams  and  John
  Stickley,  who  between them have 50 years' experience in  asset  finance  and
  broking

·     The  Company has shown rapid organic growth and by the year ended  31  May
  2006  delivered a record pre-tax profit of £240,248, up 87.7% on the  previous
  year, with its leased asset turnover up to £2.1 million

·     The  proceeds  of  the  funding will provide the Company  with  additional
  working  capital,  which  it  will  use  to  address  the  significant  growth
  opportunities that exist in its target markets

·     The  Company's  Nominated  Adviser is  ARM  Corporate  Finance,  with  SVS
  Securities acting as Broker


John Stickley, joint Managing Director of 1pm commented:

"We  believe  that there are significant opportunities to develop our  business,
which  is  well  positioned to benefit from the rapid growth in  asset  finance.
Such strong growth in our core market, underpinned by our successful network  of
brokers and increased funding facilities, creates the foundations for strong and
sustainable growth ahead."


Enquiries:

1pm plc            John Stickley,           08707 397 397
                   Managing Director

Biddicks           Shane Dolan              020 7448 1000




The business

1pm  provides  asset  finance to the UK's Sub-Prime and SME markets,  which  are
primarily  made up of small owner managed businesses eager to purchase  business
assets but lacking sufficient cash flow to do so independently.  Typically,  the
assets  funded are items essential to the running of these businesses,  such  as
vans, trucks and machinery.

In  2005, the company's average transaction size was just over £11,000.   Growth
has  continued into 2006, with both deal size, now up to an average of  £15,000,
and the number of deals increasing.

The Sub-Prime market refers to businesses that may not be automatically approved
by  traditional  finance companies for a variety of reasons,  such  as  time  in
business  or  an  adverse credit history.  As a result, finance  providers  that
service  this  market  are able to charge higher rates, and  subsequently  enjoy
higher margins.

1pm  mitigates  the  risk  from lending in the Sub-Prime  sector  by  performing
extensive financial due diligence before agreeing to a transaction; the  Company
also secures the loan against assets and primarily leases to businesses where it
can  take  additional security such as a homeowner guarantee.   By  implementing
these  stringent procedures, the Company is able to reduce its exposure  to  bad
debt.

Efficient business model / strong financial performance

1pm  is a unique finance company founded by brokers for brokers.  Over the  last
five  years,  the  Company  has built upon its management's  significant  sector
experience  to develop a strong network of broker contacts within  the  UK  from
which to generate business.  This provides a low cost route to market, which  in
addition  to  the  company's low overhead business, has  delivered  high  margin
revenues and consistent year-on-year profit.

The  Company's success is underpinned by its high level of broker loyalty, which
the  Company generates through its flexible approach to funding, along with  its
proactive approach to closing transaction leads.

Significant growth opportunities

The Board believes that an AIM listing will heighten 1pm's profile, allowing the
Company  access  to a broader range of lending providers.  The delivery  of  the
growth strategy will be supported by an enhanced marketing drive, as the Company
looks to position itself as a leading asset finance provider to small businesses
while  increasing  its receivables from £3.5 million to £12 million  within  the
next three years.

The  scale of 1pm's opportunity has been emphasised by recent research findings,
which  indicate  that  over two thirds of SMEs in the UK plan  to  make  capital
investments within the next 12 months, with businesses spending between  £25,000
and  £100,000 favouring asset finance over other types of finance.  As a  lender
of between £5,000 and £50,000, 1pm is in a prime position to service the largest
segment of this expanding market.

In  addition to this, the Finance and Leasing Association (FLA) recently  valued
the  UK  market for the finance leasing of commercial vehicles, plant, machinery
and   equipment  at  over  £11  billion;  as  this  figure  refers  to  business
underwritten by FLA members only, the figure for the market as a whole could  be
as high as £20 billion.

Board of Directors

Stephen Grey, Non Executive Chairman aged 52
Stephen brings with him 25 years of board level experience and has worked abroad
extensively, in Europe, the USA and India.  His career has predominantly been in
business-to-business  finance and banking, developing and delivering  strategies
for  operations functions such as application processing, credit and  risk,  key
account  management,  arrears collections and customer service.   Most  recently
(2001-2005), Stephen was with Abbey Business, the business finance  division  of
Abbey National plc, where he was employed as the Operations and Customer Service
Director  and  was  responsible  for providing a  range  of  services  to  SMEs,
including:  business banking, small and medium ticket asset finance,  commercial
mortgages  and  factoring.   Between 1986 and 2001, Stephen  held  a  number  of
positions  with  GE Capital European Equipment financing, with  roles  including
European  Outsourcing  Leader, European Operations  Manager  and  UK  Operations
Director.   The Company is actively searching for a suitable candidate  to  fill
the position of Chairman.  Until such time as a permanent Chairman is recruited,
Stephen will act in this capacity.

John Stickley, Managing Director aged 54
In  1998,  John commenced development of the business that became 1pm, alongside
Tony  Williams.  John has been involved in the leasing market for over 23  years
and is highly adept at growing profitable businesses.

John  began trading as a finance broker in 1983 after a successful sales  career
at Anglo Leasing, a leading sales aid leasing company.  In 1984 John established
his  own  business,  Armour Leasing and Finance Ltd, which  provided  sales  aid
leasing  facilities for computer suppliers.  Armour Leasing's specialisation  in
the  small ticket end of the market filled a gap in the market place.  The  boom
in  demand  for computer leasing saw John expand the operation from three  staff
and  an  annual turnover of £300,000 in 1983, to 30 staff and an annual turnover
of  £5  million just six years later.  With his strong background in operational
and  human resource management and system implementation, John helped set up the
operational  and system structures for several companies, including the  leasing
broker  Information Technology Rentals Ltd in 1995.  In 1998 John pioneered  one
of the first online leasing facilities in the UK with Leasing Network, including
Transaction Tracker and a Lease Quote Generator.

Anthony Williams, Managing Director aged 49
Tony  has worked in leasing for 24 years, having trained initially with  Lombard
in 1979.

In  1985 he joined the Corporate Finance department of the Forward Trust  Group,
and as Assistant Manager moved to the Supplier Sales Aid Schemes department.  He
worked  on  the  development  of schemes such as  Yale  Forklift  Trucks,  which
produced leasing to the value of £10 million per year.

Tony  joined  Concord  Leasing in Brentford in 1987 as  Manager  in  the  Credit
department,  making credit decisions on leasing deals up to  £250,000.   He  was
involved  in  lending  to  the printing and graphic arts  sector  and  was  also
involved in large (£1 million plus) deals where an operating lease structure was
required in order to classify the deals as `off balance sheet' in the customers'
accounts.

In  1989,  Tony formed Logilease Asset Finance South Ltd which traded  as  Asset
Finance  Professional, a finance brokerage.  He was involved in  sourcing  print
finance deals in the £50,000 to £5 million range and negotiated the finance deal
with  the printing company and bank.  In the period between 1991 and 1994,  Tony
wrote  his own book of leases for equipment and machinery deals ranging  between
£5,000 and £20,000, developed using bank facilities.

Tony continued broking until 1998, when he commenced development of the business
that became 1pm, alongside John Stickley.

James Benson, Finance Director aged 54
James  is  a highly experienced finance director with over 35 years in  finance.
He  is  commercially orientated with strong management, financial and  strategic
planning skills.

James  qualified  with Ernst and Young and since then has held senior  financial
positions  with  a  number of public companies including: Inchcape  plc,  Allied
Domecq plc, and more recently as Finance Director with Rolfe & Nolan plc, Hardie
Amies plc and FishWorks plc.

FINANCIAL INFORMATION