Trading Statement

Assura Group Limited
04 April 2008

                Assura Group Limited ('Assura' or the 'Company')



                            Pre-Close Trading Update



                            Move to the UK Approved

                             Board Changes Approved



4 April 2008



Assura Group Limited (LSE: AGR), the UK healthcare company which partners with
GPs, consultants and other healthcare professionals to deliver high quality
patient care, pharmacy and innovative property solutions in primary care, today
provides an update on trading for the 15 month period ended 31 March 2008, prior
to entering its closed period. The Company will announce its audited results for
the 15 month period in early June 2008.



As a part of a series of changes to reposition the Company in line with its
focus on the healthcare sector, Assura resolved at a Board meeting held on 3
April 2008 to move the management and control of the Company from Guernsey to
the UK with immediate effect. This move has the result of the Company becoming
resident in the UK for UK tax purposes. The tax consequences for shareholders
were set out in the circular issued to shareholders by the Company on 7 March
2008.



These changes follow the decision in December 2007 by the FTSE Industry
Classification Committee to move Assura from the 'Real Estate' sector to the '
Health Care Providers' sector and the Company's recent promotion to the FTSE 250
index.



The Company also confirms that with effect from 3 April 2008 the following
changes to the Board have been made:



  • Rodney Baker-Bates has been appointed non-executive chairman of the Board;
  • John Curran has stepped down as interim chairman and resumes his role as
    non-executive deputy chairman and senior independent director;
  • Richard Burrell, who is the Chief Executive Officer, joins the Board as an
    executive director; and
  • Nigel Rawlings, who is the Chief Financial Officer, joins the Board as an
    executive director.



Graham Chase, Peter Pichler and Colin Vibert remain as non-executive directors
and Fred Porter, who joined the Board in November 2003 as a non-executive
director, will retire from the Board at the Company's AGM. Following these
changes, the Board will comprise two executive directors and five non-executive
directors and will be fully compliant with the Combined Code.



Pre-Close Trading Update



Financial Results

Assura's three divisions are continuing to grow strongly and the Company expects
turnover for the 15 month period to be significantly ahead of last year.  This
reflects further revenue growth in the Company's pharmacy division and increased
rental income including rents from recently completed development projects.



The Company is expecting to generate a Group Operating Profit* of more than £10m
for the 15 month period to 31 March 2008 which compares with a figure of £12.9m
for the 12 month period to 31 December 2006.  The predicted decline in Group
Operating Profit reflects the significant level of planned investment in
Assura's pharmacy and medical divisions. This investment is set to continue in
the forthcoming financial year, enabling Assura to generate increasing,
sustainable operating profits from the year commencing 1 April 2009.





* Group Operating Profit includes development surpluses, unrealised surpluses on
revaluation of investment property and termination of investment management
services. It excludes any interest rate swap revaluations.



Property valuation

Savills, the Company's independent valuers, are currently preparing the
valuation of the Company's property assets as at 31 March 2008 and the Company
expects that its unrealised surplus on revaluation of investment property,
including development surpluses, will be higher than the £11.2m reported in the
nine month period to 30 September 2007.  The valuers have indicated that
investment property on the Company's balance sheet is likely to be valued at a
net equivalent yield of 5.8% representing a net initial yield of 5.3%.  Whilst
the wider commercial property market has experienced significant declines since
last summer, Assura's properties are generally let on long leases (in excess of
18 years on average) and have excellent covenants with rents predominantly
reimbursed out of the NHS annual budget. At the same time, rental growth, as
evidenced by rent review settlements during the period, continues to perform
very well averaging in excess of 4% per annum.



Property development pipeline

As at 31 March 2008 the Company had invested or committed £577m on property
assets and remains on track to invest or commit £750m by the end of 2009.
Development surpluses have been credited on completed properties and, at current
valuation yields, there remain ongoing development surpluses on committed
projects and properties still under construction.



GP provider companies ('GPCos') formed

As at 31 March 2008 the Company had formed 11 joint ventures with GPs and is
currently proceeding with the necessary legal formalities to establish a further
four GPCos. In aggregate, these 15 GPCos will cover a patient population of 1.7
million and there continues to be a strong pipeline of further groups of GPs
wishing to form joint ventures with the Company. The Company remains confident
that it will reach its target of having joint ventures covering 5 million
patients by the end of 2010.



GPCo community based services

The Company's GPCos are now operating eight community based services across
seven different clinical specialties in five joint ventures. In addition, a
further nine community based services across eight clinical specialties are now
under active consideration by Primary Care Trusts ('PCTs') across all 11 GPCo
areas. The breadth of the Company's offering is helping to build momentum and so
accelerate the roll-out of new services as additional GPCos are formed.



Pharmacy openings and margin

As at 31 March 2008, the Company is operating 28 pharmacies and is on target to
be operating at least 40 pharmacies by 31 March 2009. The recent review of
Category 'M' and the impending review of the Prescription Pricing Regulation
Scheme will have an impact on all pharmacy operators but we believe that the
Company's integrated pharmacy model positions Assura well to grow income from
the provision of enhanced services in the communities which our pharmacies
serve.



Bank debt

The Company has recently repaid its short term bank facility and entered into a
new five year £250m facility utilising National Australia Bank's securitisation
conduit. The margin on this facility is 0.45% above the asset backed commercial
paper rate. The bank also provides a liquidity facility of £255m, the margin on
which is 1.1% above LIBOR, to guarantee funding availability in the event that
commercial paper cannot be used. The Company benefits from a £200m LIBOR-based
interest rate swap expiring in 2027 at a rate of 4.59%.



Industry trends

The final report of Lord Darzi's review of the NHS is expected in June 2008 and
we believe this may present some very interesting opportunities for the Company.
  Additionally, at the end of 2007, the Government announced the Equitable
Access Procurement Process in order to address inequalities in quality, access
and utilisation of care in the community.  An ambitious timetable has been set
by the Department of Health to complete the process (which will be conducted by
each of the 152 PCTs) by December 2008. The process covers both the provision of
primary care-based service contracts for out-patient, diagnostic and day-case
surgery and the provision of premises contracts (via polyclinics and GP-led
health centres), both in combination with each other and separately. We are
monitoring this procurement opportunity closely and will provide further details
in due course if appropriate.



Commenting on today's announcement, Richard Burrell, Chief Executive of Assura,
said, 'The Company remains encouraged by the increasing role the private sector
has to play in the provision of NHS services to local communities. We believe
that our established business model of integrating medical services in joint
ventures with GPs combined with providing pharmacy services and developing
modern buildings will position us to benefit from this trend and provide high
quality services and facilities to patients. We will continue to invest in
developing our business to accommodate the changes to the provision of community
based healthcare in the UK.'



Further information regarding the new members of the Assura Board



Rodney Baker-Bates (age 63) is a fellow of the Institute of Chartered
Accountants and Institute of Bankers and an associate of the Institute of
Management Consultants. He qualified with Arthur Andersen and has held many
senior positions in the finance sector including Managing Director of UK Banking
at Midland Bank and Chief Executive of Prudential Financial Services. In 1993,
he joined the Management Committee of the BBC responsible for finance and
technology. Rodney now holds a number of Chairman and non-executive director
positions with Stobart Group Limited, Helphire Group plc, Bedlam Asset
Management PLC, FirstAssist Insurance Services Limited, EG Solutions Limited,
The Music Solution Limited, Britannia Building Society, G's Group Holdings
Limited and Strategic Investment Group Limited. Rodney is also a consultant to
the board of directors of C. Hoare & Co.



Richard Burrell (age 42) graduated from Durham University and started his career
at UBS Investment Bank and latterly at ING where he focused on mergers and
acquisitions and raising of equity and debt capital for companies.  In 2002, he
led the Admission of The Westbury Property Fund Limited ('WPF') to the Official
List.  In 2003, he led the Admission of The Medical Property Investment Fund
Limited ('MPIF') to the Official List.  Both WPF and MPIF were managed by
Berrington Fund Management Limited ('Berrington') until May 2006.  In May 2006,
MPIF acquired Berrington and continued to manage WPF.  In November 2006, MPIF
changed its name to Assura Group Limited ('Assura').  In August 2007, WPF
acquired Eddie Stobart Limited and changed its name to Stobart Group Limited.
Richard Burrell has been the Chief Executive Officer of Assura since its
formation, he is a non-executive director of Stobart Group Limited, Helphire
Group plc and a Trustee of Alder Hey Children's Hospital Imagine Appeal.



Nigel Rawlings (age 52) started his career with Price Waterhouse in 1977,
working in Manchester, London and Singapore. Nigel was Finance Director and
Company Secretary of Rowlinson Securities plc, a property and contracting group
admitted to the Official List, from 1987 to 1994 and was Chief Financial Officer
and Company Secretary of Barlows PLC, a formerly fully listed property
development and investment company from 1996 to 2003. Nigel was the Chief
Financial Officer for Berrington Fund Management ('Berrington'), the investment
manager of The Westbury Property Fund Limited ('WPF') and The Medical Property
Investment Fund Limited ('MPIF'). He worked on the Admission of MPIF to the
Official List and in 2006 when MPIF acquired Berrington, Nigel became the Chief
Financial Officer of MPIF. In November 2006, MPIF changed its name to Assura
Group Limited ('Assura'). Nigel Rawlings has been the Chief Financial Officer of
Assura since its formation and he is a non-executive director of Stobart Group
Limited. Nigel has commercial experience of financial and management accounting,
corporate finance and legal and company secretarial matters, is a FCA and FSA
approved Corporate Finance Representative.



There are no other matters which require to be disclosed pursuant to Listing
Rule 9.6.13.



                                      Ends





Enquiries:

Assura Group                                             Tel: [phone]
Richard Burrell/Louise Bathersby

Financial Dynamics                                       Tel: [phone]
David Yates/Ben Atwell




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