ACE.L Regulatory News (ACE)

20 Mar 2006 12:43

Accident Exchange Group PLC20 March 2006 20 March 2006 Accident Exchange Group Plc Confirmation of no changes to the Board of Accident Exchange Group Plc Share Price Movements and Media Comment The Board has been made aware of press comment published in The Times onSaturday 18 March which referenced the departure of two employees of one of theGroup's subsidiaries and dealt with subsequent rumours at The Fleet News Awardson Thursday 16 March. The Board can confirm that two employees recently left the employment ofAccident Exchange Limited, a subsidiary company of Accident Exchange Group Plc;one was dismissed in early February and the second resigned following thereorganisation of the operational structure of the subsidiary. Neitherindividual was a member of Accident Exchange Group Plc's board. The Board would like to clarify that the Group has not altered its successfulbusiness referral partner acquisition strategy and can confirm, in contradictionof the rumours reported in The Times, that the cost of acquiring referral volumeas a percentage of sales has actually fallen in the last six months. The Board continues to look to the future with confidence and is optimisticabout the continuing growth opportunities inherent within the UK Credit Hiremarket place. The Board expects to provide a Trading Update as part of theordinary course of business prior to the end of the current financial year inApril. - Ends - For more information please contact: Steve Evans, Chief Executive, Accident Exchange Group plc, Tel: 08700 116 719 Martin Andrews, Finance Director, Accident Exchange Group plc, Tel: 08700 053649 Jonathon Brill/Billy Clegg, Financial Dynamics, Tel: 020 7831 3113 This information is provided by RNS The company news service from the London Stock Exchange