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Accident Exchange (~268)

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Friday 15 June, 2007

Accident Exchange

New banking facilities

Accident Exchange Group PLC
15 June 2007

FOR IMMEDIATE RELEASE                                            15 June 2007

                          Accident Exchange Group Plc
                     ('Accident Exchange' or 'the Company')

The Board of Accident Exchange (the 'Board') is pleased to announce that it has 
entered into a senior secured credit agreement with Morgan Stanley Bank 
International Limited ('Morgan Stanley') in respect of banking facilities of up 
to £45 million (the 'Facility').

The Facility replaces the Company's existing £20 million revolving credit 
facility and will be used to repay the Company's £5 million term loan with the 
increased facility providing additional headroom for general corporate and 
working capital purposes and has been entered into as a result of the ongoing 
review of the Company's financing structure as referred to in the trading update
of 10 April 2007.

The Facility comprises term loans aggregating to £35 million and a £10 million 
revolving credit facility and matures on 30 September 2010.  The interest rate 
commences at LIBOR plus 3% rising to 6% on elements of the Facility dependent on 

As part of the arrangement fee for the Facility, the Company has undertaken to 
seek shareholder approval for the grant of warrants in favour of Morgan Stanley 
over 718,571 ordinary shares in the capital of the Company (representing 1% of 
the Company's current issued share capital after exercise of the warrants) at an
exercise price of 105 pence per share. Accordingly, the necessary special 
resolution will be proposed at the Company's forthcoming Annual General Meeting.

Announcement of final results

The Company intends to announce its results for the year ended 30 April 2007 on 
Monday 16 July 2007.



Accident Exchange Group Plc
Steve Evans, Chief Executive                                    08700-116 719
Martin Andrews, Group Finance Director                          08700-053 649

Numis Securities Ltd                                            020-7260-1000
Chris Wilkinson, Corporate Broking

Steve Liebmann or Simon Bloomfield                              020-7367-8888

About Accident Exchange

Based in Coleshill, West Midlands, Accident Exchange delivers accident 
management and other solutions to automotive and insurance related sectors.  
Fully listed, the stock code is LSE: ACE.

                      This information is provided by RNS
            The company news service from the London Stock Exchange