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PRESS RELEASE


October 2004

The directors of P&A Receivables Services plc are delighted to announce that they have acquired the well-known and highly respected debt collection and repossession business of Optima Credit Collections Ltd of Dronfield, Sheffield.

Jeremy Priestley, Managing Director said –

“ Our business is focussed on providing ‘one stop’ solutions to maximise the profitability of our clients. The acquisition of Optima, and which becomes a division of P&A Receivable Services plc and rebranded P&A Asset Recovery, meets our strategic objectives. I’m delighted to welcome Tony Otter, Alan Davies and Colin Arbury as Divisional Directors.”

Tony Otter said –

“ Joining the P&A Group is an exciting move for us, it will enable us to provide our important client base with a much broader base of services that meet their requirements, when needed, from insolvency advice to international debt collection.”

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