PRESS RELEASE

State Securities Breaks £10m New Business Lending Barrier During March

Key points:
•  Asset based lender State Securities records historic new business levels
•  Record £10.9m lent to UK SME businesses during March 2006

Wednesday, 19 April 2006: Asset based lender State Securities is celebrating a record amount of new business lending. During March, 2006, the Southampton based commercial funding specialist recorded the strongest lending month ever in its 25 year history, financing UK SME businesses to the tune of over £10.9m.

In line with its corporate strategy for growth and development, the company has witnessed continued expansion of its lending book. The March 2006 new business record betters the company’s previous best of £9.3m written in November 2005.

Sales Director, Andrew Bullard, commented, “We’re delighted with this achievement. Breaking the £10m lending barrier is a historic achievement for us and is testament to the continued commitment, dedication and hard work of all our staff. The whole team has worked tirelessly to ensure we continue to grow the business to meet our corporate growth goals and strategy.”

The company’s record breaking lending volumes comprised of commercial mortgages and asset finance deals. Demand for State Securities’ factoring services also continued to grow during the month.

For more information, contact Andrew Bullard on t 01489 776500.

-ENDS-

Notes to Editors :

State Securities
For over 25 years State Securities has assisted 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, whatever the business circumstances. 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.

Visit www.statesecurities.plc.uk