Quarterly Securitisation Rep

Unite Group PLC
09 August 2007

Date: 9 August 2007


UNITE Releases Quarterly Securitisation Report

UNITE Finance One plc, the wholly owned subsidiary of The UNITE Group plc
established for the purposes of the Group's securitisation in April 2002, has
today issued its standard quarterly report to bondholders.

The report contains trading information relating to the Group's securitised
portfolio of student and key worker accommodation, comprising 9,636 beds, the
majority of which were completed prior to 31 December 2001 and representing
approximately 28% of the Group's total operational portfolio.

The securitised portfolio continues to perform in line with expectations:

  • Net revenues remain robust with the debt service coverage ratio for the
    year to July 2007 increasing compared to the previous twelve months at 124%
    versus 122% and the interest cover ratio improving to 142% from 138%.

  • Average occupancy stood at 95% for the twelve months to July 2007 versus
    93.4% for the twelve months to April 2007.


The full text of the Quarterly Securitisation Report is appended to this
announcement.



ENDS


Enquiries:

UNITE
Tony Harris, Chief Financial Officer                               0117 302 7000

Financial Dynamics
Stephanie Highett/ Dido Laurimore                                 020 7831 3113


Further information on UNITE is available at www.unite-group.co.uk



Obligor Quarterly Report

Loan Determination Date: 25 July 2007
Date of Report:  9 August 2007
                                                                   Opening           Amortisation                Closing
                                                                   Balance                                       Balance
                                                                         £                      £                      £

Initial Class A Advance                                        137,938,074                643,110            137,294,964
Initial Class B Advance                                         65,000,000                    Nil             65,000,000
Initial Class C Advance                                         63,000,000                    Nil             63,000,000


                                                                                        Scheduled                   Paid
                                                                                                £                      £

Interest in respect of the Initial Class A Advance                                      2,043,693              2,043,693
Principal in respect of the Initial Class A Advance                                       643,110                643,110
Interest in respect of the Initial Class B Advance                                      1,076,530              1,076,530
Principal in respect of the Initial Class B Advance                                           Nil                    Nil
Interest in respect of the Initial Class C Advance                                      1,346,436              1,346,436
Principal in respect of the Initial Class C Advance                                           Nil                    Nil

                                                                                        5,109,769              5,109,769

                                                                                                                       £
Unscheduled Prepayment of the Initial Class A Advance                                                                Nil
Unscheduled Prepayment of the Initial Class B Advance                                                                Nil
Unscheduled Prepayment of the Initial Class C Advance                                                                Nil

                                                                                       4 Quarters           This quarter
                                                                                           to LDD
                                                                                                £                      £
Net Rental Income                                                                      31,876,831              5,708,401
Gross Rental Income                                                                    32,059,087              5,708,401
Permitted Operating Costs                                                               4,542,673              1,091,084
Capital Expenditure                                                                       525,465                135,822
Available Funds                                                                                                9,283,073
Debt Service                                                                           27,342,310              6,750,775
Adjusted Debt Service                                                                  27,342,310              6,750,775
Alternative Debt Service                                                               20,560,132              5,109,769
Anticipated Debt Service                                                                                       6,796,129
Spot Coverage Ratio                                                                                                  80%
Coverage Ratio                                                                                                      124%
Relevant Shortfall                                                                                                   Nil
Anticipated Gross Rent                                                                                        36,317,612
Debt Service Excess                                                                                            6,120,101
POC Overspend                                                                             182,256                    Nil
POC Underspend                                                                                Nil                    Nil
Required Retention Amount                                                                                            Nil
Scheduled Permitted Operating Costs Allowance                                                                  1,078,978
Scheduled Property Management Fee                                                         194,697                 77,936
Capital Expenditure Reserving                                                           1,850,928                462,732
Average Portfolio Occupancy                                                                                          89%
Average Portfolio Occupancy - excluding vacation periods                                                             95%
Credit Reserve Level                                                                                          12,000,000
Periodic Fee                                                                                                         Nil
Refinancing LTV                                                                                                    60.6%


Details of any Structural Alterations:                                                                              None

Property/Property, Property/Cash or Cash/Property/ Substitutions:                                                   None

Property or Cash Collateral Withdrawals:                                                                            None

Coverage Ratio Calculation                      
                                                                                      Coverage                      Spot
                                                                                         Ratio                  Coverage
                                                                                                                   Ratio

Gross Rental Income                                                                 32,059,087                 5,708,401
Permitted Operating Costs                                                          (4,542,673)               (1,091,084)
Scheduled Property Management Fee                                                    (194,697)                  (77,936)
Capex Reserving                                                                    (1,850,928)                 (462,732)

                                                                                    25,470,789                 4,076,650

Alternative Debt Service                                                            20,560,132                 5,109,769

                                                                                          124%                       80%




                      This information is provided by RNS
            The company news service from the London Stock Exchange