Park Regulatory News (PKG)

Embargoed until 0700, 17 February 2011

  Park Group plc

("Park" or "the Company")

Iceland becomes 250^th corporate client of flexecash™

Park, the UK's leading gift voucher and prepaid gift card provider, is pleased to announce that it has signed its 250^th corporate client for its innovative flexecash™ product.  Iceland will now use flexecash to reward and incentivise its store support and retail staff across its 700 UK stores.  Iceland reports that initial feedback from staff is very positive, and is delighted with the level of service, flexibility and ease of use of the card.

Since its launch in June 2010, the adoption of flexecash™ has exceeded management expectations and now companies including Volkswagen, Michelin, Paypoint and CAT UK have made Park's multi-retail pre paid gift cards central to their reward strategy.  24 leading retailers, including Boots, Debenhams, HMV, Comet, Toys R Us, Matalan, BHS, River Island and New Look now accept flexecash™, making it an extremely attractive proposition and, with all its inherent technical innovations, an attractive alternative to paper. 

The versatility of flexecash™ means that clients can benefit and choose from a wide range of options. Corporate users can choose whether to send out the gift cards live (with value already loaded); inactive (simply requiring activation); or with no value assigned (requiring value to be subsequently loaded).  This makes flexecash™ pre paid cards ideal for all types of scheme for customer and staff reward, including flexible and voluntary benefits which may require on-going regular loading of value.

Commenting on the announcement, Chris Houghton, Managing Director, said: "We are delighted with the progress made by flexecash™ since its launch and are pleased to reach this very important milestone of 250 corporate clients.  It is also very encouraging that clients of Iceland's calibre continue to adopt flexecash™.  This underlines the benefits and value we can add to our clients' operations and we look forward to further successes from this innovative product."

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