("1PM" or the "Company")
Announcement of New Financing Facility and Trading Update
11 September 2007
The Company is pleased to announce that it has agreed a £250,000 block
discounting financing facility with a subsidiary of a UK investment bank.
The Company has seen a positive start to the new financial year, writing its
highest ever value of new leasing proposals in the first quarter and achieving
significant progress in recovering amounts that had previously been provided for
in the accounts.
Mike Johnson, the Chairman of the Company commented:
"Although the Company is still some way from achieving what the Board believes
to be an acceptable level of financial return, the progress is encouraging. The
new block discounting facility is a vote of confidence in the Company."
For further information, Contact:
1pm plc Mike Johnson 08707 397 397
ARM Corporate Finance Limited Nick Harriss 020 7512 0191
SVS Securities plc Ian Callaway 020 7638 5600