Placing & Acquisitions

Accuma Group PLC
27 July 2006


Press Release                                                       27 July 2006


                              Accuma Group Plc


             Acquisitions of Loan Line (Holdings) Limited and
                Byrom & Keeley  Financial Services Limited
                 Placing of Ordinary Shares to raise £18m
                              Trading Update

Accuma Group Plc ('Accuma' or the 'Group'), a leading provider of consumer
financial solutions, is delighted to announce that it has conditionally agreed
to acquire Loan Line (Holdings) Limited ('Loan Line'), a loan broker, and Byrom
& Keeley Financial Services Limited ('Byrom Keeley'), a debt advisory company
(together 'the Acquisitions').  These Acquisitions transform Accuma from
offering primarily IVAs to its clients into a comprehensive consumer financial
solutions provider that offers a full range of solutions designed to meet the
individual circumstances of over-extended consumers.

In order to finance the cash element of the consideration for the acquisitions,
Accuma has conditionally placed 6,666,667 new ordinary shares of 10p each
('Ordinary Shares') at a price of 270p per share with institutional investors to
raise £18 million ('the Placing').

Summary:

• Acquisition of Loan Line, a loan broker, for an initial consideration of 
  £10.5 million;

• Acquisition of Byrom Keeley, a debt advisory company, for an initial 
  consideration of £5.85 million;

• Acquisitions in line with Accuma's stated strategy to provide a complete 
  consumer financial solutions platform offering best advice based on individual
  circumstances;

• Significantly accelerates the Group's growth;

• Immediately earnings enhancing;

• Provides substantial cross selling opportunities and synergies allowing the 
  Group to maximise marketing spend, third party referral relationships and, 
  therefore, reduce client acquisition costs;

• Conversion rate from enquiries expected to increase from 4% to more than 30%.


Commenting on the Acquisitions and the Placing, Charles Howson, Chief Executive
of Accuma Group plc, said:  'These two acquisitions transform Accuma into a full
platform consumer financial solutions provider; offering best advice to clients
based on their individual circumstances.


'Both acquisitions are immediately earnings enhancing and moreover they will
significantly decrease the Group's client acquisition costs due to cross-selling
activities and referrals between the Group's operating subsidiaries.


'I am particularly pleased with the high level of institutional demand for the
Placing, which was significantly oversubscribed, and look forward to updating
shareholders of our progress at the Group's Preliminary Results in October.'


Information on Loan Line


Loan Line was established in 1995 as a master broker specialising in secured
lending, offering loans that it arranges through well established and recognised
lending institutions.


Loan Line acts as an intermediary between indebted consumers (its clients) and a
wide panel of lenders, including major high street banks and finance companies.
It primarily generates its business through the following sources: direct
marketing, introducers and contracted arrangements with High Street banks for
the referral of declined loans.  It uses bespoke processing software with the
entire workflow being system driven.


Loan Line currently has 29 staff and is based in Basingstoke, Hampshire.  The
table below sets out a summary of the audited turnover and profit before tax for
the three years ended 31 December 2005:


                       2003                     2004                     2005
                      £'000                    £'000                    £'000
Turnover              3,702                    4,669                    5,441
PBT                   (318)                      603                    1,228


In the year to 30 June 2006 Loan Line and its subsidiaries (the 'Loan Line Group
') recorded an unaudited profit before tax of £1.7 million on turnover of £7.3
million.


Terms of the Loan Line Acquisition


The initial consideration for the acquisition of Loan Line (the 'Loan Line
Acquisition') is £10.5 million, to be satisfied as to £8.4 million in cash and
as to £2.1 million by the issue of loan notes.  Depending on the pre-tax profits
of the Loan Line Group from 1 August 2006 to 31 July 2008, additional
consideration of up to a maximum of £8 million is payable to the Loan Line
vendors, which may be satisfied by cash or the issue of Ordinary Shares at the
sole discretion of Accuma.


Information on Byrom Keeley


Byrom Keeley was established in 2003 as a debt management company, acting as an
intermediary between indebted consumers (its clients) and lenders.  Through its
websites, Byrom Keeley offers a range of informal debt consolidation and
settlement solutions to approximately 3,000 clients and primarily generates its
business through the internet and a number of introducers.


Byrom Keeley is based in Manchester with 25 staff.  The table below sets out a
summary of the unaudited turnover and profit before tax for the three years
ended 31 December 2005:


                       2003                     2004                     2005
                      £'000                    £'000                    £'000
Turnover                349                    1,050                    1,949
PBT                      19                      303                      650


In the six months to 30 June 2006 Byrom Keeley recorded an unaudited profit
before tax of £450,000 on turnover of £1.18 million.


Terms of the Byrom Keeley Acquisition


The initial consideration for the acquisition of Byrom Keeley (the 'Byrom Keeley
Acquisition') is £5.85 million, to be satisfied in cash.  Depending on the
pre-tax profits of Byrom Keeley from 1 January 2006 to 31 December 2008,
additional consideration of up to a maximum of £9.15 million is payable to the
Byrom Keeley vendors, which is to be satisfied by a mixture of cash and Ordinary
Shares.


The two Acquisitions are not inter-conditional but are each conditional, inter
alia, on the passing of the resolution to be proposed at an EGM to be convened
for 21 August 2006, Admission and the Placing Agreement becoming unconditional
in all respects.


Reasons for the Acquisitions


The Group's stated strategy is to be able to provide a complete consumer
financial solutions platform to its clients.  By doing so, the Group will be
able to offer best advice and provide solutions to a higher percentage of
prospective clients than is currently possible.


Based on historic conversion rates in Accuma and the Acquisitions, the Board
expects that the Acquisitions will lead to an increase in the conversion rates
of inquiries from potential clients from 4 per cent at present (as the Group has
to date only been able to offer IVAs) to more than 30 per cent. for the Enlarged
Group (as the Enlarged Group will be able to offer a range of financial
solutions, including debt management services and loans).


In addition, the Board expects the Acquisitions to:

•   maximise the benefit of marketing spend and third party referrals;

•   accelerate the Enlarged Group's growth; and

•   be immediately earnings enhancing.


The Directors are confident of their ability to integrate Loan Line and Byrom
Keeley (together the 'Target Companies') quickly and effectively for the
following reasons:


•   the Target Companies have relatively few staff (the Enlarged Group will have
    around 200 employees, compared with 140 at present);

•   the Target Companies have effective management information systems based 
    around key performance indicators; and

•   management of the Target Companies will be locked-in both through their 
    service contracts and earn-out incentives.


The Directors intend that each of the Target Companies will operate
independently although where the Group's strategy of offering best advice
dictates, there will be significant cross-referral opportunities.


Placing


Daniel Stewart & Company plc ('Daniel Stewart'), the Company's nominated adviser
and broker, has conditionally placed 6,666,667 new Ordinary Shares to raise
approximately £18 million before expenses at 270p per new Ordinary Share.


The proceeds of the Placing will be used to satisfy the initial cash element of
the consideration for the Acquisitions, including the loan notes being issued in
connection with the Loan Line Acquisition, and to pay for the expenses of the
Acquisitions and the Placing.


The Placing is conditional, inter alia, on the passing of the Resolution,
either, but not both, of the Acquisitions becoming unconditional in all respects
save only for Admission (save that if one of the Acquisition Agreements is
terminated before Admission or if any of the conditions set out in either, but
not both, of the Acquisition Agreements (other than Admission) are no longer
capable of being satisfied prior to Admission, the Placing will proceed but
shall be reduced to such an amount as Daniel Stewart and the Company agree). The
Placing is not being underwritten. The Placing Shares are expected to be
admitted to trading on AIM on 22 August 2006.


The Placing requires the approval of shareholders and an EGM is being convened
for 21 August 2006.


Trading Update


Based on historic conversion rates Accuma expects 270 IVA cases to be completed
in the month of July 2006 and the Board is confident that the Group will meet
market expectations for the year ending 31 July 2006. The Group became cash
generative at the end of June 2006.


Since the publication of the Group's Interim Results for the six months ended 31
January 2006, Accuma has continued to expand its market share, both by focussing
on and further developing third party referral relationships and by the
acquisition of Thomas Charles, announced on 3 July 2006.


Thomas Charles was established in August 2004 to act as an intermediary between
its clients (the debtors) and insolvency practitioners.  Its focus is the
packaging of IVAs for insolvency practitioners.


Historically Thomas Charles has referred 40 completed cases per month to a
network of independent Insolvency Practitioners, which has recently increased to
70.  Accuma will now receive 40 of these cases until an exclusive arrangement
commences in October 2006 when this will increase to 70 cases per month.


Analyst Briefing


An analyst briefing given by Charles Howson, Chief Executive of Accuma, to
explain the acquisition strategy in more detail will be held on Friday, 28 July
2006 at 9.30 am at the offices of Abchurch, 100 Cannon Street, London, EC4N 7EU.
If you would like to attend, please contact Chris Lane on 0207 398 7708 or
Louise Thornhill on 0113 203 1345.    One-on-one meetings or telephone briefings
can also be arranged today, Thursday, 28 July 2006 or Friday, 28 July 2006 if
required.


                                    - ends -


For further information:
Accuma Group plc
Charles Howson, Chief Executive                        Tel: [phone]
[e-mail]                               www.accumagroup.com


Daniel Stewart & Co.
Lindsay Mair/Marc Young / Tom Jenkins                  Tel: [phone]
[e-mail]


Media enquiries:
Abchurch
Chris Lane/ Louise Thornhill                           Tel: [phone]
[e-mail]                             www.abchurch-group.com




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