MDCG Money Debt

RNS Number:5389Q
Money Debt And Credit Group Plc
01 February 2007


                          MONEY DEBT & CREDIT GROUP PLC

            LAUNCH OF MONEY DEBT & CREDIT (FINANCIAL SERVICES) LIMITED

Money Debt & Credit Group PLC ("the Group"), a leading provider of Individual 
Voluntary Arrangements ("IVAs"), announces the launch of a FSA approved 
mortgage and secured loan business, Money Debt & Credit (Financial Services) 
Limited.

The new company is a 100% subsidiary of Money Debt & Credit Group PLC and will 
act as a broker for re-mortgages and secured loans from a panel of leading 
sub-prime lenders. The business is staffed by a team of experienced and 
accredited mortgage advisors based at the Group's head office in Watford.

The activity complements the Group's existing business as IVAs are 
inappropriate for debtors with sufficient equity in their property to meet 
their commitments to creditors. In these circumstances a re-mortgage may 
enable the debtor to repay existing borrowing and convert unsecured lending, 
often at high interest rates, to more affordable mortgage repayments.

Simon Johnson, Executive Chairman, commented:

"Sustainable growth in our sector is built on solutions that are appropriate 
for our clients' needs and which meet the requirements of creditors. By 
offering re-mortgages we are able to widen the range of financing solutions we 
are able to arrange on behalf of our clients.

Additionally, it enables us to add an incremental income stream and increases 
the likelihood that a detailed review of debtor's circumstances will result in 
a revenue opportunity for the Group.

This development is in line with our strategy set out at the time of our 
admission to AIM and forms part of our multi-brand and multi-channel marketing 
strategy intended to reduce average client acquisition costs."

Enquires:

Money Debt & Credit Group PLC   Simon Johnson, Executive Chairman 01923 229 200
                                Jon Bartman, Managing Director

Solomon Hare Corporate Finance  Nick Reeve                        01179 333 344
                                Martyn Fraser

1 February 2007


                      This information is provided by RNS
            The company news service from the London Stock Exchange

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