Record Performance

30 Aug 2007 12:27

Elephant Loans & Mortgages PLC30 August 2007 ELEP.L ELEPHANT LOANS & MORTGAGES PLC ("Elephant Loans" or "the Company") Announces Record Performance in June and July Elephant Loans, the sales distribution channel for specialist lenders, ispleased to announce that, following a slow start to the current financial yearending 31 March 2008, it has seen record sales for June and July. In addition,both the number of transactions and the value of the total of advances haverisen to record levels. Currently, the Company has over 134 live cases in thecompletion pipeline, which represents another record. During the last financial year, to 31 March 2007, an average of 47 loan ormortgage product transactions per month were packaged on behalf of lenders. Bycomparison, over the past two months, the Company packaged 63 transactions inJuly and 70 transactions in June. Over these two months, the average commissionincome per deal increased from £5,200 to £5,500. Elephant Loans' success is testimony to its unrivalled business model of anational branch network, which enables its registered mortgage advisers andsecured loan sales executives to meet potential customers on a face-to-facebasis. It should be noted that Elephant Loans acts only as a sales distribution channelfor lenders and insolvency practitioners and that it bears no credit risk on thespecialist financial solutions provided to customers, as the debts rest on thebalance sheet of the lenders. Commenting, Gary Miller-Cheevers, CEO, said, "I am delighted to report extremely positive trading news for June and July. Thebusiness is growing strongly. What makes Elephant Loans especially effective asa sales distribution channel for lenders is our national branch network. Itmeans that we can offer a personalised service when advising potential customerson possible financial solutions." For further information please contact: Elephant Loans & Mortgages plc Tel: 020 8892 2777Gary Miller-Cheevers, CEO Biddicks Tel: 020 7448 1000Katie Tzouliadis ARM Corporate Finance Tel: 020 7512 0191Nick Harriss About Elephant Loans & Mortgages plc www.elephantloans.co.uk Established in 2001, Elephant Loans & Mortgages plc is a sales distributionchannel for specialist lenders. Since listing on AIM in November 2005 the Grouphas gone through a period of considerable growth and development. Elephant Loans' regional branch network now includes seven offices located inTwickenham, Ashford (Kent), Peterborough, Cardiff, Oldham, Darlington andGlasgow. The Company's strategy is founded on offering a personalised service toits customers from first contact to completion, promoting strong customerrelationships. Its services are marketed through strategic affiliatepartnerships and regionally through targeted radio, direct mail and e-marketing. This information is provided by RNS The company news service from the London Stock Exchange