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Heads of Agreement signed to Acquire Solicitor Lending Company

Impact Holdings (UK) plc

('IHUK' or 'the Company')

Heads of Agreement signed to Acquire Solicitor Lending Company

IHUK is pleased to announce it has signed Heads of Agreement to purchase Sutherland Professional Funding Limited ('SPFL'), a solicitor lending business.

The total consideration is expected to be satisfied by the issue to SPFL shareholders of 1,066,666 new ordinary shares of 50p each ('Ordinary Shares') representing approximately 48.5 per cent. of the share capital of the Company as enlarged by the acquisition. The transaction is subject to shareholder approval and the receipt of a waiver from the Panel on Takeovers and Mergers of the Rule 9 obligation to make a general offer for the Company. The Company is also in advanced negotiations with SPFL's current bankers to fund the ongoing growth of the Group. A circular detailing the particulars of the transaction and convening an Extraordinary General Meeting to seek shareholder approval for the Proposals will be sent to shareholders shortly.

IHUK has recently been providing outsourced Loans Administration, Information Technology, Risk Management and Audit services to SPFL whilst the directors have been assessing the merits of integrating the two businesses onto a common platform. The acquisition will result in the operations of the two businesses being merged within IHUK's Head Office in Manchester as the enlarged entity looks to benefit from the economies of scale.

In order to effect a smooth transition Tim Sutherland, the present Managing Director of SPFL, has agreed to act on a consultancy basis following completion of the transaction. Furthermore, John Russell, a current Director of SPFL, has agreed to join the Board of IHUK as a Non-Executive Director upon completion. Further details with respect to this appointment will be included in the circular.

IHUK expects to announce its audited financial statements for the 12 months to 31 March 2009 before the end of September.

For further information:

Impact Holdings (UK) plc
Paul Davies, Chief Executive Officer
Tel: 0161 437 9499

Daniel Stewart & Company plc
Simon Leathers / Oliver Rigby
Tel: 020 7776 6550

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Impact Holdings (UK) Plc Manchester International Office Centre Styal Road Manchester M22 5WB (t) +44 (0)161 437 9499 (f) +44 (0)161 437 9555 (e) enquiries@impactholdings.net