PRESS RELEASE

State Securities provides innovative funding solution for South West precision engineering company

Key points :

• £100,000 funding enabled pay off of finance lease agreements and transfer of title of assets
• Deal completed in less than a week

Tuesday, 20 March 2007: One of the UK’s leading asset financiers, State Securities, recently provided £100k funding to a South-West based precision engineering company after they had purchased a competitor company.  The funding enabled them to pay off the newly-acquired company’s existing finance lease agreements and then transfer the title of the assets in less than a week.

State Securities stepped in when the precision engineering company had been let down by another funder who could only offer £82k. Even though both funders used the same valuer, State Securities were able to offer a higher advance.

John Harding, Sales Manager at State Securities, commented, “We like to apply a hands-on approach and so visited both company premises. The operation was well run and the team behind it were ambitious and motivated. This gave us confidence to make a commercial decision and offer the increased advance. The deal exemplifies our willingness to support small and medium UK engineering businesses and our commitment to helping them grow and progress.”

The whole deal, a straight lease purchase over 36 months, was turned around in less than a week to the satisfaction of all parties.

State Securities are able to provide asset finance and refinance, commercial mortgages, factoring and the Small Firms Loan Guarantee to UK businesses under the umbrella of a ‘one-stop-shop’. Its expertise lies in finding tailor-made funding solutions for customers where other lenders may not have the resources or facilities to do so, whatever the business circumstances.

Contact : John Harding, State Securities, tel 01489 775621 or visit www.statesecurities.co.uk

-ENDS-

Notes to Editors :

State Securities

State Securities has over 26 years experience assisting business customers who are looking to raise finance for the acquisition of new or used assets, along with the re-financing of assets already owned by the business. It also provides commercial mortgages for properties including factories, warehouses, offices and retail outlets and factoring for State Securities type customers to help improve their cash management and to assist in trying to provide a complete finance package.

State Securities supports a wide range of clients, including public and private limited companies, partnerships and sole traders, and can also help companies that have difficulty in raising finance in a short period of time, for example new start businesses. Additionally, it specialises in assisting businesses in company or individual voluntary arrangements.

Registered Head Office : State Securities plc, Burlington House, Botleigh Grange Office Campus, Grange Drive, Hedge End, Southampton, Hants SO30 2AF, t 01489 775600.

Visit www.statesecurities.co.uk