PRESS RELEASE

State Securities completes historic asset deal

Key points :

• £4.8m funding for plant hire company, largest transaction in State Securities’ history
• Complicated deal made straightforward by State Securities’ specialists

Monday, 22 October 2007: One of the UK’s leading asset funders, State Securities, has completed its largest ever asset finance transaction to the tune of £4.8m.

The company, a previous customer of State Securities, is based in the Midlands and hires out large volumes of plant and equipment. From past experience, the customer was confident State Securities could handle such a large transaction. The customer wanted to restructure its existing debts and release its credit lines, raise cash and acquire two new vehicles.

As a specialist in fulfilling complicated transactions, State Securities was able to settle down the many existing funding arrangements the company had, and completely restructure its finance into 3 separate agreements with differing terms, all of which have helped recover cash flow and improve business control.

Andrew Bullard, Sales Director at State Securities, oversaw the deal and commented, “We’re delighted to have completed our largest ever asset finance transaction, and one that demonstrates clearly the flexibility we can offer to customers. Our strength lies in not taking a ‘one size fits all’ stance - we were able to customise a solution to meet the customer’s specific finance needs, much to their satisfaction.”

State Securities provides an extensive range of asset finance, refinance, commercial mortgages, factoring, turnaround finance packages and the SFLG to UK based SME’s.

Contact : Andrew Bullard, tel 01489 775618 or visit www.statesecurities.co.uk

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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.

Head office : Burlington House, Botleigh Grange Office Campus, Grange Drive, Hedge End, Southampton, Hants SO30 2AF, t 01489 775600, f 01489 775601

Visit www.statesecurities.co.uk