Business Update

 
TIDMIHGP 
 
For Immediate Release 2 December 2009 
 
                              IN HOUSE GROUP PLC 
 
("In House" or the "Company") 
 
Business Update 
 
In House Group PLC 
 
Update of financing 
 
On 3 July 2009, the Company announced a private placing to raise GBP443,000 over 
a period of time. Since then, the Company has received some GBP153,350 and issued 
and allotted the shares accordingly in respect of the amounts actually paid but 
not in respect of the unpaid amounts. This has enabled certain liabilities to 
be met as well as a small proportion of the planned refurbishment work to be 
undertaken but has not provided all the funds which were required for the full 
refurbishment of the Group's properties and accordingly, the expected 
significant benefit in the rental income from lettings has yet to arise. 
 
The Company is discussing the position with the parties concerned with a view 
to receiving the majority of the remaining monies although various parties have 
requested a revision to the terms and/or the length of time in which to pay up. 
However, there is an amount of some GBP85,000 which the Directors are not 
confident will be received and, although the directors are in talks with 
potential alternative investors , the budget may need to be adjusted 
accordingly. The Company may also review other options to raise this money . A 
further announcement will be made as and when the matter has been determined. 
 
END. 
 
For further information please contact: 
 
Marcus Cassidy, CEO, In House Group Plc, Tel: [phone], Email: 
[e-mail] 
 
Roland Cornish, Beaumont Cornish Limited, Tel: [phone] 
 
 
 
END