Statement re Joint Venture

RNS Number:4142L
Ardent Group PLC
02 November 2006



2 November 2006


                  Ardent Group Plc ("Ardent" or "the Company")


     Ardent and Investec Holdings Ireland announce joint venture to target
                    non-standard mortgage market in Ireland.


Ardent's wholly owned subsidiary, Shared Home Investment Plan Plc ("S.H.I.P."),
and Investec Holdings Ireland today announce their intention to launch a
specialist mortgage lender for the non-standard mortgage market in Ireland.  The
two companies have joined forces to establish a special joint venture business
called Nua Homeloans to manufacture, distribute and service mortgages for this
growing sector of the Irish homeloan market. It expects to commence operation in
the first quarter of 2007.


Ardent is chaired by Billy Kane, former Chief Executive of leading Irish
mortgage provider Irish Permanent.  The Company is listed on the AIM market in
the UK and IEX in Ireland.  The Company's principal business is S.H.I.P. which
provides lifetime mortgages to older homeowners which enable them to access the
value of their homes without having to sell or meet loan repayments.  S.H.I.P.
also provides home reversion products which allow older homeowners to sell a
portion of their home to S.H.I.P. in return for a lump sum.


Investec Holdings Ireland is part of the Investec Group.   The Investec Group is
an international specialised banking group which operates in 11 countries  and
employs over 5,000 worldwide.


Whilst well established in the UK and other markets, the non-standard mortgage
market is relatively new in Ireland.  In value terms the market is expected to
be worth approximately Euro1billion in funded mortgages in the current year (2006)
with a potential to reach Euro4 billion in the years ahead.


Speaking today, Billy Kane said that Nua Homeloans would meet a growing need
from Irish consumers for non standard mortgages:


"Too many customers are currently excluded from the mortgage market because, for
example, of problems they might have had with previous loans which have impacted
on their current credit rating.  The availability of specialist non standard
mortgages will enable these customers to enter the mortgage market, restore
their credit ratings and, ultimately, move on to standardised mortgage products.
There's a clear demand for these products and a demand which is likely to grow
in the years to come."


Enquiries:

Ardent Group Plc                                              [phone]

                                                                         
Billy Kane, Chairman & Chief Executive
MRPA Kinman:                                                  [phone]

                                                                          
Ray Gordon                                                   [phone]

                                                                          


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