Prestbury Holdings PLC
06 October 2006


                         "Prestbury launch IVA Service"

                               06th October 2006


Lee Birkett: Chief Executive Comments; -


"I am pleased to announce that following months of research and negotiation, we
have agreed terms with a number of Insolvency Practitioners to launch the
Prestbury IVA Service.


The "debt" sector currently dominates the financial press and classified
sections, the current growth in this marketplace is staggering, the UK has
become a nation comfortable with debt and in many instances too comfortable,
hundreds of thousands of people; maybe even millions now wake up under a cloud
of debt. Prestbury advisers have current and prospective clients in this
situation and the numbers are growing daily. It's important for our advisers to
be in a position to provide their clients and prospective clients with a proven
and trusted solution if they fall in to debt and to get them back on track.


The debt market is such a hot topic with the press and consumers. A rapidly
emerging solution for an individual who is over indebted in the UK is the IVA,
(individual voluntary arrangement) the IVA solution is here to protect consumers
and to be fair to the lenders who are owed money. An IVA ensures that the matter
is dealt with professionally and with understanding. An IVA ensures all parties
are treated fairly.


If an individual can no longer meet his or her debt repayments and is
permanently"robbing Peter to pay Paul" then they may qualify for an IVA.


An IP (insolvency practitioner) is a qualified professional, and this person
will assess and verify an individuals income and expenditure and look to
establish an IVA if this is best for the individual concerned, if applicable,
they will call a creditors meeting with the finance houses and credit card
companies who are owed the debts. The IP will then make a proposal to reduce the
debts based on the clients particular circumstances and propose to repay the
restructured debt over a 5 year period.


Typical Example;

#28,000 of unsecured debts

Client can only afford to pay #200 per month, expenditure verified by IP.

IP proposes repayment over 5 years = #12,000 repayable to creditors.

Debt reduction proposed by IP 60%


If the client maintains payments of #200 per month to the IP each and every
month then the client will be debt free after the 5 years.


To qualify for an IVA the following criteria will need to be met;


  * Firstly a client must be struggling to pay his/her debts as and when they
    fall due or the value of their debts exceeds the value of their assets.
    This is a statutory test that must be met under insolvency law in order to
    qualify for an IVA.


  * Homeowner, tenant or living with parents.


  * The total level of debt should be approximately #15,000 or more and there
    should be a minimum of 3 (separate) creditors.


  * The client must have a reliable (or as reliable as possible in today's
    current economic climate) income stream.  Ideally this should be in the form
    of a salary as some creditors do have issues with pension based incomes
    (client's age) and benefit based incomes (in case benefits are stopped).


  * Property and equity values etc. aren't really relevant in terms of
    criteria other than that if there is a significant amount of equity
    creditors may request some form of equity release either as part of or
    instead of an IVA.


If a client is unable to satisfy the criteria then we will refer them to the
registered charity; CCCS (Consumer Credit Counselling Service).


Prestbury will pay its advisors #500 for work preparatory to the drafting of the
nominees report for the purpose of the IVA. This will be approximately 12 weeks
following the advisors introduction to the Prestbury IVA Service.


The Prestbury IVA service will be available to Prestbury Appointed
Representatives www.prestbury.com/intermediary and to the entire Financial
Services Industry via Prestbury's www.Bsuredirect.com


For further information please call


Lee Birkett : Chief Executive  - 01625 591401


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