Placing

RNS Number:7806I
Prestbury Holdings PLC
17 March 2003

embargoed for 07:00 17 March 2003




               PRESTBURY HOLDINGS PLC ("Company" or "Prestbury")

                                    Placing

Prestbury Holdings plc is pleased to announce that it has raised #500,000 before
expenses by way of a placing of 625,000 new Ordinary Shares of 5p each ("new
shares") at 80p per share to Brit Insurance Holdings PLC ("Brit"). The new
shares will rank pari passu in all respects with the existing shares in issue.



An application has been made for these new shares to be admitted to trading on
the Alternative Investment Market of the London Stock Exchange and dealings are
expected to commence on 20th March 2003.



Brit now retains an interest of 4.35 per cent. in the enlarged issued share
capital of the Company.



Lee Birkett, Chief Executive of Prestbury, said:



"This is an exciting time for Prestbury and the board is pleased with the
company's progress since joining AIM.  The proceeds of the placing will be used
to provide additional working capital for the Group as we continue to develop
all parts of the business."





17 March 2003



Enquiries



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



John Bick, Holborn                     tel: [phone]



Note to Editors



Prestbury Holdings 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.



Prestbury's services are provided through a combination of telephone and
Internet technologies to both financial intermediaries and direct to consumers
through its three operating subsidiaries as follows:







  * Solution Network division - deals primarily with financial Intermediaries
    (www.solutionnetwork.co.uk)
  * Moneybrain division - is targeted at more sophisticated individual
    consumers (www.moneybrain.com)
  * LoansUK division - is targeted at less sophisticated individual consumers
    (www.loansuk.co.uk)



                                     -ends-


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