Joint Venture

RNS Number:5378K
Prestbury Holdings PLC
30 April 2003

embargoed 7am on 30 April 2003


                         Prestbury Holdings PLC

     Prestbury Holdings plc announces a deal with the Telegraph Group Limited.

               Telegraph expands into Life Assurance Market.

Prestbury Holdings PLC ("Prestbury" or the "Company") is pleased to announce
that today it has signed a one year agreement with the Telegraph Group Limited
to provide The Daily Telegraph and The Sunday Telegraph readers with Life
Assurance Services.

The Moneybrain division of Prestbury will provide these services to readers
whilst the Telegraph Group Limited will provide branding and marketing
opportunities in the form of advertising space in The Daily Telegraph and The
Sunday Telegraph to advertise the service.

Prestbury and the Telegraph Group Limited will launch a marketing and
transactional website dedicated to the Telegraph Life Assurance Service through
which readers will be able to purchase these products.

All administrative costs related to the tie-up will be borne by Prestbury whilst
the Telegraph Group Limited will bear all marketing costs. The new service is
scheduled to commence in May.

Commenting on the deal, Lee Birkett, Chief Executive of Prestbury, said:

"The agreement with The Telegraph is a milestone for Prestbury. Since our
flotation, our aim has been to establish Prestbury as the preferred financial
services partner for blue chip organisations choosing to enter or expand into
the Financial Services Marketplace. The Telegraph Life Assurance Service will
provide excellent quality and good value products from a number of Blue Chip
Life Assurance companies. The Daily Telegraph and The Sunday Telegraph readers
have come to expect the highest service standards, and Prestbury are proud to
have been chosen to provide this service."

Alex Stitt, Director of Telegraph Enterprises said:

" The Telegraph has built a powerful financial services business by offering its
readers excellent products from blue chip providers. We are delighted to forge
this partnership with Prestbury because we believe that it will give our readers
access to great products in an increasingly important area of the financial
services industry."

30 April 2003


Enquiries:

Lee Birkett, Chief Executive
Prestbury Holdings PLC                                       tel: [phone]

John Bick, Holborn
tel: [phone]

Alex Stitt, Telegraph Enterprises                            tel; 020 7538 5000

Neil Bennett, Gavin Anderson & Company                       tel; 020 7554 1400
Louisa Hollins



Note to Editors

Prestbury (www.prestbury.com)

Prestbury floated on AIM in October 2002 following a successful issue of
ordinary shares raising #1.0 million of new money for the Company.  The Company
was established in 1994 offering a range of complementary financial products
specialising in Life Assurance and Income Protection Products, Non-Status
Specialist Mortgages, Secured Loans and Mainstream Conventional Mortgages.  The
Company provides a complete service to its customers originating, packaging and
completing the provision of the financial products in which it specialises

In March 2003 Prestbury successfully raised #500,000 before expenses by way of a
placing of 625,000 new ordinary shares of 5p each at 80p per share with Brit
Insurance Holdings PLC.

Prestbury's services are provided through a combination of telephone and
Internet technologies to both financial intermediaries and direct to consumers.
Prestbury utilises proven information technology at all levels of its business
and has developed three websites, which are branded with the names of its three
trading divisions, each targeted at its different sources of business as
follows:

*        Solution Network - deals primarily with financial Intermediaries
         (www.solutionnetwork.co.uk)

*        Moneybrain - is targeted at more sophisticated individual consumers
         (www.moneybrain.com)

*        LoansUK - is targeted at less sophisticated individual consumers
         (www.loansuk.co.uk)

Telegraph (www.telegraph.co.uk)

The Daily Telegraph is Britain's biggest selling quality daily newspaper.  It is
renowned for its unrivalled home and foreign news, in depth sports coverage and
incisive business analysis.

The Sunday Telegraph has built a reputation as the best-written, most
entertaining and consistently surprising Sunday broadsheet.  It enjoys a huge
loyalty from its remarkably mixed readership of more than two million.

Telegraph Enterprises, part of Telegraph Group Limited, was established in 1990
to provide readers with products and services selected on the basis of quality
and value for money.  Around 2.8 million individuals have dealt with Telegraph
Enterprises in the past two years with around 900,000 having bought products
from the Group in that period.

The financial services arm of Telegraph Enterprises is made up of Telegraph
Pension Annuity Services, Telegraph Investor Services, Telegraph Mortgage
Services and Telegraph Insurance Services.  Each of these service groups have
formed franchises with leading personal finance providers enabling the Group to
supply Telegraph readers with high quality financial advice and products.





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