Trading Update

Accuma Group PLC
24 February 2008







25 February 2008



                                Accuma Group Plc

                           ('Accuma' or 'the Group')


                                 Trading Update


Accuma Group Plc today releases a trading update and provides commentary in
respect of the five month period* ending 31st December 2007, the Group's new
financial year end.


Throughout 2007 the Group experienced difficult trading conditions within its
IVA division. In addition the consumer loan broking division was impacted by the
credit crunch in the second half.


Edward Armitage was appointed Finance Director on 7th January 2008 and, together
with other Board members, has conducted a thorough review of the financial
position of the Group's businesses, particularly in light of the restructuring
of the IVA division during the period. The results for the period to 31 st
December 2007 will therefore include significant exceptional costs, particularly
within the IVA division which is largely responsible for the Group's anticipated
(unaudited) EBITDA loss of £2.7m. for the period. Included in this loss is some
£700,000 of Group overhead which will be charged to the profit & loss account
and is a similar amount to that charged in the first half of 2007.





IVA Division


This division, in common with its competitors, has been under severe pressure
throughout 2007. Rising creditor pressure on fees - which at one point led to
creditor acceptance rates of IVA proposals dropping from Accuma's average of 96%
to 78% - culminated in the recently introduced IVA protocol. This is a voluntary
code between creditors, their representatives and the IVA industry and we
welcome the increased transparency this brings to the process, although the code
has meant a significant reduction in average IVA set-up fees from £2,700 to
£1,700.


The pressure on fees coincided with a more competitive environment as Accuma, in
common with its competition, geared up its operations for what was commonly
expected to be a significant increase in activity in its market, in line with
trends established in 2006. This increased activity did not materialise and
Accuma, as has been reported, took early action to restructure this division's
activities, reducing headcount, dramatically reducing its advertising spend and
altering its business model to take advantage of referrals from newly acquired
businesses within the Group. In addition new cases have largely been relocated
to the Group's Blackburn based subsidiary Wilson Phillips. The Manchester office
continues to manage its existing case load although one floor of this office is
no longer being used, leading to a provision of £625,000 in respect of the lease
commitment together with other restructuring costs and trading losses, which
together bring the (unaudited) EBITDA loss for this division to £1.9m.


Acceptance rates have improved to 85% of IVA cases since the New Year. The
number of new cases being generated largely through group referrals would, if
repeated over the remainder of the year, lead to a profit for this division.



Debt Management


Byrom Keeley, the informal debt management solutions business, has had a good
start to the year with a significant increase in volume. This business has
benefited from consumer concerns about the credit crunch, with disposable
incomes continuing to be eroded by higher cost of living expenses and the
consolidation of unsecured debt no longer an option for many consumers.
Moreover, creditors are generally more positive towards debt management
solutions.


It is anticipated that the results for five months to 31 December 2007 will show
an (unaudited) EBITDA of £589,000 in respect of this division.


Due to the buoyant demand for its services, the Board has continued to invest in
this division. We are confident of continued growth during the year ahead.



Loan & Mortgage Broking


Loan Line, our loan broking and mortgage subsidiary, has been significantly
impacted by the substantial changes within not just the sub-prime market but the
sector as a whole, resulting in an expected (unaudited) EBITDA loss for the
period of £375,000. Having refocused this business, the division recorded a
return to profitability in January 2008.


Notwithstanding the current improvement in performance, the Board is taking a
prudent view on the goodwill value of this business given the turmoil and some
recent high profile failures in this sector. It is anticipated the results will
feature a significant goodwill write-off in respect of this business.



Outlook


As outlined above, the Board has undertaken a stringent review both of the
operational and financial position of the Group, resulting in what will be a
substantial loss for the period.


The Board believes that as a result of this recent restructuring the Group is in
a much improved position for the year ahead.


Despite trading difficulties within our IVA division, the Group has 5,906 live
IVA cases with future contracted revenue pre delinquency of £16.8m.,
representing a substantial book of business. Shareholders should note that
consolidation in this sector is gathering pace: the Board has received some
approaches which may lead to a satisfactory offer for the IVA business. With the
restructuring of this business now complete, the Board believes that the
realizable value of this business alone considerably exceeds our existing market
capitalisation.


The Group's debt management business continues to perform well, is experiencing
significant growth and is favoured by conditions in the macro economy. The Board
remains confident of its prospects.


The Group is debt free with a current cash position (net of expected imminent
earn out payments in respect of 2007 for Byrom Keeley and Loan Line) of
£933,000. The measures taken will significantly strengthen the Group's balance
sheet in the year ahead. Current cash flow is strong and the Board anticipates a
much improved performance during 2008.


The Group anticipates reporting its full year results by the end of March 2008.


*On 13th December 2007 the Group announced its intention to change its year end
to 31st December resulting in a 5 month period. The change will smooth the
effect of the seasonality of the debt solutions market on our results, which are
most active in the period from February to July.


Enquiries to:


Charles Howson
Chief Executive
Accuma Group Plc                     Tel: [phone]


Lindsay Mair
Daniel Stewart & Company plc         Tel: [phone]


Simon Rothschild, Oliver Winters
Bankside Consultants                 Tel: [phone]











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