ABM.L Regulatory News (ABM)

PAWNBROKING GAINS RECOGNITION ON THE UK HIGH STREET

Following a record profit announcement and 19th consecutive year of growth, Albemarle and Bond Holdings plc is pleased to announce that it has become the first pawnbroking business to be granted membership of the British Retail Consortium (BRC).

The BRC membership, which covers Albermarle Bond and Herbert Brown pawnbroking and jewellery stores, is another significant step in the changing perceptions of pawnbroking and it becoming a mainstream presence on the UK high street.

The company offers secure pawnbroking services, alongside short-term loans, gold-buying, and jewellery retailing through a network of over 140 stores across the country, 20 of which have opened within the last 12 months, creating more than 150 jobs.

CEO Barry Stevenson says: "Achieving membership of the BRC is recognition of the important role pawnbrokers play in today's economy - taking the space banks have freely vacated in customers minds. We operate a 21st century business that offers very high standards of value, convenience and service to its customers, in pleasant, modern and friendly retail environments.

"Significant numbers of people already benefit from our services, but the reality is that only around one per cent of the population has ever been into a pawnbroker. We want to change that and are committed to making our services even more accessible, opening more stores and creating further employment opportunities.

"We are looking forward to working closely with the BRC to learn from and share best practice as well as educating the general public, media and government on the changing face of pawnbroking."

British Retail Consortium Director General Stephen Robertson says: "Albemarle and Bond Holdings plc, through its two store formats, has a fast-growing customer base and impressive store rollout programme.

"We welcome them as jewellery retailers and pawnbrokers into the BRC, as they play an increasingly important part in the economy of our local high streets. The BRC is proud to represent UK retailing in all its forms and Albemarle and Bond's very welcome decision to join us is further evidence of the value our campaigning brings to retailers whether they are small and large, online or store-based, whether they're selling jewellery, jeans or jam.

"This is at a time when the new Government is promising and producing change at local and national level and legislative plans continue to come from Brussels and the UK assemblies, making a strong, single voice for the retail sector crucial."

For further information, visit: www.albemarlebond.co.uk / www.herbertbrown.co.uk

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Notes to editors:

Albemarle and Bond Holdings plc

The company's core business is the provision of consumer credit - primarily by means of pawnbroking and related services - but also through pay day advances, loans and cheque cashing, as well as gold buying.

Founded in Bristol in 1986, the company is now based in Reading and was admitted to the Alternative Investment Market (AIM) in 1995 (TICKER: 'ABM').

The company operates its services through two high street fascias:

·; Herbert Brown

Herbert Brown jewellers and pawnbrokers was founded in Leeds in 1840 and has 37 stores across the North of England, as well as online jewellery sales at www.herbertbrown.co.uk and online loans and jewellery purchasing via www.pawnbroking.co.uk 

Herbert Brown specialises in new, second-hand and antique jewellery, including pre-owned Rolex and other luxury watches.

·; Albemarle Bond

Through its 95 stores across the UK, Albemarle Bond has become a major pawnbroker and retailer of second-hand gold jewellery.

Albemarle Bond also offers a range of financial services including third-party cheque cashing, micro-loans, pay day advances and gold-buying services.

Further company information can be found at www.albemarlebond.com