APP Appreciate Group Plc

RNS No 1774t
PARK GROUP PLC
28 September 1999


     Park Group's Direct Credit Business Growing Strongly


Park  Direct  Credit,  the  weekly collected  credit  business
launched  by  financial  services and marketing  company  Park
Group  a  year  ago,  is  making "excellent  progress",  Peter
Johnson, Chairman, told shareholders at the annual meeting  in
Birkenhead today.

"It  is our belief that we are already the sixth largest  home
credit provider in this market sector in the UK.  We are doing
business   in  over  50,000  households  and  have  over   450
collection  agents  operating in the  four  main  geographical
regions.   Growth has been such that we are presently  pausing
to  ensure  that  we have the systems to cope with  a  further
acceleration".

Mr. Johnson reported that in line with market expectations the
results of Park Financial Services, the group Christmas hamper
and  voucher  operation, would be lower this year  than  last,
reflecting the continued trend towards vouchers and away  from
hampers.

Meanwhile Park Online, Park's fast growing marketing  company,
continues  to make good progress and has recently added  three
major  brand  names  to  its already impressive  client  list.
"This business is doing well under a vigorous management  team
and  we  expect  its profits this year to show  a  significant
improvement over 1998-99".

Regarding future dividend policy, the chairman stated that  it
was  the  board's intention to aim for cover of at  least  two
times.  Interim results for the year to 31 March 2000 will  be
announced  towards  the end of November.   "In  light  of  the
change in the dividend policy the board has concluded that  it
would  be  prudent  not  to declare  an  interim  dividend  in
November  but to defer consideration of a dividend  until  the
end   of  the  financial  year  when  the  results  have  been
determined".

Press Enquiries:            Alastair Kerr                   
                            Chief Executive
                            Tel: 0151 653 1700
                            
Issued on behalf of Park Group plc by Tavistock Communications
Limited (tel: 0171 600 2288, contact Keith Payne)
                                                              
                                                              
END

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