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1PM plc (OPM)

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Wednesday 24 October, 2007

1PM plc

Placing of New Shares, New Debt Facilities &...

                                     1PM PLC
                            ("1PM" or the "Company")
   Announcement of Placing of New Shares, New Debt Facilities & Board Changes

24 October 2007

The  Company  is  pleased to announce that it has raised approximately  £675,000
before expenses through an equity placing by SVS Securities (the "Placing"). The
directors of the Company have subscribed for shares to the value of £310,000  in
the Placing.  The Placing was significantly oversubscribed.

The  placing  monies will increase 1pm's capital base enabling  the  Company  to
write  a greater volume of business than recently possible and thus exploit  the
opportunities  within the thriving £5 billion traditional small  ticket  leasing

In conjunction with the Placing, the Company is also pleased to announce the
following changes to the Board:

Michael  ("Mike") Richard Johnson (63) has been appointed as full-time executive
chairman with immediate effect. Mike Johnson joined 1pm in February 2007 as non-
executive  chairman,  bringing over 30 years experience  in  the  asset  finance
industry, to help accelerate the growth of the business.

Maria-Louise  ("Maria") Hampton (29) has been appointed as  operations  director
with  immediate effect.  Maria has worked for the Company since  2003.  She  has
been  instrumental  in  the  restructuring  of  1pm's  business  procedures  and
implementing  strict  underwriting procedures  and  controlled  debt  management

As a result of the procedures Maria has put in place, 1pm has seen a significant
improvement in bad debt levels which have fallen from 8 per cent in May 2006  to
2 per cent. in the first quarter of this financial year.

Paul  David ("Paul") Connell (40) has been appointed as a non-executive director
with  immediate effect. Paul set up and still owns, First Financial (UK) Limited
in 1990. First Financial is a general finance broker based in Bexley, Kent. Paul
is  experienced in asset finance lending and has previously worked with chairman
Mike  Johnson  at  First Sierra Financial Inc, a large US  asset  finance  group
during the late 1990s.

Anthony  ("Tony")  Ffrancon Williams (49) has stepped down as  a  director  with
immediate effect.  The board would like to thank him for his efforts.

Rodney Owen Channon (49) remains as finance director.

The following directors have subscribed for shares in the placing:

Name              No. of     No. of       Value     Total       Resultant
                  Ordinary   Ordinary     of        No. of      Holdings
                  Shares     Shares       shares    Ordinary    (%)
                  held       acquired     acquired  Shares
                  prior to   in  the                held
                  the        Placing

Mike Johnson      Nil        40,000,000   £100,000  40,000,000   9.13%

Paul Connell      Nil        40,000,000   £100,000  40,000,000   9.13%

Rodney Channon    Nil        40,000,000   £100,000  40,000,000   9.13%

Tony Williams     36,666,667  4,000,000   £10,000   40,666,667   9.28%

The  Placing comprises 270,047,000 new ordinary shares issued at a price of 0.25
pence each representing approximately 61.6% of the enlarged share capital of the
Company.   As a result of the Placing, in addition to those detailed above,  the
following  notifiable interests in the voting share capital of the  Company  now

Wills & Co Stockbrokers Ltd - 18.26%
SVS Securities plc* - 15.69%
John David George Stickley - 8.37%

*SVS  have  subscribed for 47,135,000 new Ordinary shares in  the  Placing.   In
addition,  SVS  Securities have been allotted in lieu of cash fees  for  broking
services 21,603,760 new Ordinary shares for which they paid the nominal value.

An application has been to AIM for all the new shares to be admitted for trading
on  25  October  2007. The total number of ordinary shares  in  issue  following
admission of the new shares will be 438,212,229.

Mike Johnson, the chairman of the Company commented:

"We  are  delighted with the success of this fundraising which was significantly
oversubscribed  and  as  a  result investors  were  scaled  back.   The  placing
demonstrates  a  positive vote of market confidence in  the  progress  that  the
repositioned 1pm plc is making into the traditional small ticket leasing market.

I  would  like to extend my thanks to the committed team at 1pm who have  worked
tremendously  hard  to  reposition the business.   The  Board's  commitment  and
confidence  in  the  future  is reflected by their personal  investment  in  the

I  would  like  to welcome the new members of the Board and wish  Tony  Williams
success for the future and for his contribution to 1pm.  We now view the  future
with growing optimism."

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

Disclosure under AIM Rules for Companies Schedule 2(g)

Maria Hampton

No disclosures

Paul Connell

Current Directorships/Partnerships

First Financial UK Limited
First Asset Protection Limited
Connell & Jordan Partnership LLP

Previous Directorships

State Security Limited
First Vehicle UK Limited
First Asset Finance UK Limited
IGF Asset Finance Limited

No other disclosures        

a d v e r t i s e m e n t