PRESS RELEASE

State Securities provides resourceful funding package for Countryliner Coaches Ltd

Key points :

• State Securities provides tailored finance package incorporating Small Firms Loan Guarantee to allow coach company directors to purchase an additional business
• Funding supports the business’s long term expansion plans

Tuesday, 24 June 2008: State Securities has once again demonstrated its versatility and ‘case-by-case’ approach to business funding by providing finance to two directors of Countryliner Coaches Ltd.

Directors Robert Hodgetts and Roger Belcher required funding to purchase an East Sussex based company that they had identified had future growth potential. The company provided UK coach travel and coach maintenance.

Terry Hounsome Senior Sales Manager at State Securities worked alongside their finance broker, Phil Betts of Primary Asset Finance, and devised a bespoke asset based lending package. To overcome a shortfall of available funds from other sources, a Small Firms Loan Guarantee (SFLG)* was implemented, along with an HP agreement, providing cash to acquire the assets, and working capital to contribute towards buying stock and freehold premises.

Terry said, “State Securities is one of the few privileged asset finance lenders who are able to offer the SFLG to UK SME’S. The transaction was lengthy and complex and there were several legal issues, however, because we were able to use the SFLG to boost the shortfall in funding, the deal was able to proceed. This exemplifies our commitment to providing workable, innovative funding solutions, particularly in situations that traditional finance companies cannot.”

Robert Hodgetts commented, “By working with Roger and me to ascertain our long term aims for the company, Terry and Phil were able to provide a tailored finance package that enabled us to purchase the business. Though the deal was complicated, we were kept up to date with proceedings and felt safe in the knowledge that State Securities would be able to complete the deal on time.”

For more information on State Securities Asset Finance products, contact Terry Hounsome, tel 01489 775635 or visit www.statesecurities.co.uk

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Notes to Editors :

State Securities

State Securities has over 27 years experience assisting business customers who are looking to raise finance for the acquisition of new or used assets, along with the re-financing of assets already owned by the business. It also provides Commercial Mortgages for properties including factories, warehouses, offices and retail outlets and Factoring for State Securities type customers to help improve their cash management and to assist in trying to provide a complete finance package.

State Securities supports a wide range of clients, including public and private limited companies, partnerships and sole traders, and can also help companies that have difficulty in raising finance in a short period of time, for example new start businesses. Additionally, it specialises in assisting businesses in company or individual voluntary arrangements.

Head office : Burlington House, Botleigh Grange Office Campus, Grange Drive, Hedge End, Southampton, Hants SO30 2AF, t 01489 775600, f 01489 775601

Visit www.statesecurities.co.uk

*Backed by the Department for Business, Enterprise and Regulatory Reform (BERR)