Red Leopard Holdings Regulatory News (RLH)

12 Mar 2007 15:31

Red Leopard Holdings PLC12 March 2007 PRESS RELEASE Red Leopard Holdings PLC moves forward with First Broughton opportunity Red Leopard Holdings PLC ("Red Leopard" or "the Company"), the AIM listed leisure andhospitality company, has today entered an agreement to take advantage ofBritain's booming residential property market. It will undertake new residential property developments through an agreementwith First Broughton Group UK Limited ("First Broughton"), a privately-ownedproperty development group with more than 50 years experience. The two companies aim to secure their first development site within the next twomonths and to deliver a completed project before the end of 2008. Project sitestargeted for development range from small housing estates to large scaleapartment blocks with more than 200 units. Under the terms of the agreement, Red Leopard will provide First Broughton with£20,000 per month over a six month period, in return for which Broughton HomesDevelopment (1) Limited, a wholly owned subsidiary of First Broughton willidentify and acquire a property site, and develop residential apartments andhouses. First Broughton will divide profits from the venture with Red Leopard. Red Leopard Director John May said: "With the Government estimating that aminimum of 200,000 homes a year need to be built over the next 10 years, webelieve this relationship has the potential to give us a steady deal flow movingforward. The agreement with First Broughton Group takes us in a directionclosely in line with our existing business model for the development ofapart-hotels in the UK. " CONTACT RED LEOPARD Allan Piper, First City Financial Public Relations: 020 7436 7486 FIRST BROUGHTON GROUP CONTACT INFORMATION Nathan Davis 07795 802 558 CORPORATE SYNERGY Olly Cairns 0207 448 4400 This information is provided by RNS The company news service from the London Stock Exchange