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9 Jun 2005 09:00
Brown (N.) Group PLC09 June 2005 9 June 2005 DISPOSAL OF PERSONAL LOANS PORTFOLIO FOR £9.95M N Brown Group Plc announces that its Financial Services division (FirstFinancial Ltd) has sold its £10.8m personal loans portfolio to an undisclosedpurchaser for cash proceeds totalling £9.95m. The impairment provisions made within the financial statements for the yearended 26 February 2005 will be used in part to cover the deficit and theproceeds will be used to further reduce borrowings. First Financial willcontinue to provide brokerage loan facilities together with a complete range offinancial services. For further information contact: N Brown Group PLC Tel: 0161 238 2000Alan White, Chief ExecutiveDean Moore, Finance Director Gavin Anderson Tel: 0207 554 1400Charlotte Stone/Fergus Wylie This information is provided by RNS The company news service from the London Stock Exchange
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