BROOKVALE GROUP PLC

BROOKVALE GROUP PLC

FINANCIAL SERVICES BUSINESS SEEKS OFEX LISTING

HIGHLIGHTS:

Provider of insolvency and individual debt management solutions

Current economic slowdown combined with continued customer spending means that number of people using credit is increasing

A prime opportunity to build and expand upon a solid customer base of c720 personal clients

Revenue of over £1m generated in less than four years since trading commenced

Face to face consultative philosophy allows Brookvale to tailor services to individual clients needs, promoting trust and loyalty

Funds required to increase client base and further improve service offering

BACKGROUND

Established in 1998, Brookvale Group PLC ("Brookvale" or "the Company") is a provider of individual and company debt management solutions. The Company operates nationally throughout the UK and Northern Ireland through a team of home based field operatives and is licensed by the Office of Fair Trading.

Brookvale has introduced a consultative approach to the personal insolvency industry, tailoring debt management solutions to individual clients needs. The Company offers both voluntary arrangements (i.e. Individual Voluntary Arrangement (IVA) and Company Voluntary Arrangement (CVA)) and informal Pro Rata solutions depending on the best fit to specific circumstances. The Company is looking to build upon this base and expand into the more lucrative CVA market.

Brookvale can offer its clients different solutions depending on their circumstances. This means that individuals feel comfortable with the proposition offered by the Company and are therefore more likely to become paying clients. As standard practice, Brookvale meets clients face

to face to ensure that the right solution is introduced. This is in contrast to many competitors who only offer a telephone service for their clients. The face-to-face meeting allows Brookvale to correctly assess how the debt problem arose, select the most suitable option and calculate a repayment structure, which the individual can afford

The number of individual insolvency cases in 1998 was 24559 (of which 20% - c4900 -were solved through IVA’S). Between August 1998 and July 2001, Brookvale introduced 480 IVA cases.

Since the summer of 2001, the UK media has been reporting an economic slow down across Europe. As individuals continue to use credit in the high street, Brookvale's potential client base is continuing to grow strongly.

MANAGEMENT

Founder Neil Hackley is Managing Director of the Group. Malcolm Ravenscroft, former Deputy Managing Director of Associate British Ports (FTSE 100) is Non-Executive Company Chairman. James Falla is Operations Director, Financial Director is Jay Ved and Andrea Hackley is Company Director.

THE LISTING

Trading will commence week beginning 4^th March 2002 at an estimated 85 pence per Ordinary Share. Market capitalisation at the listing price will be an estimated £12.5 million.

Commenting, Managing Director Neil Hackley said: "This is a very exciting time for the Company, as we hope to take advantage of the current climate and continue to establish the name Brookvale as one that is synonymous with outstanding personal service. We believe that listing on the OFEX market will help us to achieve this goal."

Ends

Enquiries:

Brookvale Plc

Neil Hackley, Managing Director 0870 0707707

Fisher Corporate Plc

Gary Miller 020 7380 4938

Nicholas Day 020 7380 4911

Barnes and Walters Limited

Maxine Barnes 07860 489571

Kelly-Ann French 07958 972164