Corporate update

RNS Number:6562Q
American Leisure Group Limited
25 March 2008


                                                                   25 March 2008



                         American Leisure Group Limited


                            ("ALG" or "the Company")


                                Corporate Update



American Leisure Group Limited (AIM: ALGL), "the vacation resort company", today
provides an update on its operations.  ALG remains firmly convinced that its
business model and substantial land bank will provide unique competitive
advantages as it endeavors to provide a fully integrated approach to the
development, sale and delivery of vacation homes, the initial construction of
resorts, the sale and financing of vacation club memberships and the management
of the resorts as well as international travel services.


As referred to in the trading update released on 7 December 2007, the months
following ALG's admission to the AIM market of the London Stock Exchange (on 13
August 2007) have proven difficult for virtually all companies involved in the
development of property (both residential and resort based) that require
significant capital investment or access to large development lines of credit
for them to accomplish their planned growth.  The much publicised difficulties
in the international debt market have made it difficult for the Company to raise
the necessary capital to keep pace with the development of the Sonesta Resort
Orlando (the "Resort"), as originally planned.  The Resort is a 122 acre luxury
vacation property, which is within 10 miles of Walt Disney World in Orlando,
Florida and which will contain about 4,500 vacation residences when completed.
The softness of the US market for virtually all residential property has proven
to be an additional challenge, as in the current marketplace lenders no longer
distinguish between residential property and resort based vacation home
properties.  The Company still maintains a substantial backlog of pre-sold
units, giving it a material advantage compared to many resort developers.
However, the current climate of funding limitations has slowed down construction
as compared to original expectations.


The Company has considered the slower pace of resort unit construction and the
development of the overall Resort site plan along with recommendations from the
management of the Sonesta hotel brand, it seems most appropriate to begin resort
operations in the Autumn of 2008.  This timing will enable ALG to take advantage
of the stronger demand for accommodations in the Orlando area that historically
begins in the late Autumn and continues throughout the Winter months, which are
quite mild in Orlando.


The Company is currently evaluating the financial implication of a slower sales
and construction pace and the later opening of the Resort.  Though the amount
has not yet been determined, it is clear that earnings for the twelve months
ending 31 December 2008 will be significantly lower than previously forecast.
However,  delayed unit deliveries are expected to be realised during 2009 and
subsequent years as internally generated capital from unit closings and the
opening of the Resort will allow for re-acceleration of the development plan and
ultimately the implementation of the Company's plans to initiate its planned
vacation club business model.  At present, ALG has pre-sale contracts for the
delivery of vacation homes valued at approximately U.S.$275 million. In
addition, the Company announced today the strategic marketing alliance with The
Travel Acquisition Group, one of the largest leisure travel agency networks in
North America, together with the sale of its "TraveLeaders" subsidiary.  The
Company believes this transaction will bolster its ability to execute its
leisure business model.


As stated above, the Directors of ALG remain optimistic about the long-term
prospects of the Company.  ALG's business model is unique in that it meets the
demand for vacation / holiday residences that are large in size and set in
luxurious, leisure amenity-rich communities and fall within a private club
structure that provides both additional Company profit opportunities and
exclusive recreational choices that are incremental to the attractions available
in the vicinity of the Company's resorts.  This business plan has been designed
to cater to the expectations of the growing number of affluent families that are
willing to pay for a much more extensive vacation experience.


In addition, the Directors are pleased to welcome Matt Hagler as President of
ALG.  For the last twelve years, Matt partnered with Bobby Ginn in developing
his firm's business model, and designing and executing the Ginn Company's
construction plans.  He directed the development of the Ginn Company's vacation
home and club model.  Previously, Matt spent 18 years developing and operating
luxury hotels and resorts. "Matt joined the Company 60 days ago and has already
drawn upon his unique background to contribute a number of valuable insights
that will improve the business model of the company", said CEO Malcolm Wright.


                                    - Ends -



For further information:

American Leisure Group Limited
Fred Pauzar, Director of Corp. Development       Tel: [phone]
                                                 Tel: [phone]
Malcolm Wright, Chief Executive Officer          Tel + 1 407 251 2240
                                                 www.americanleisuregroupltd.com


Dawnay, Day Corporate Finance
Gerald Raingold                                  Tel: [phone]
                                                 www.dawnayday.com

Media enquiries:
Abchurch
Henry Harrison-Topham / Gareth Mead              Tel: [phone]
[e-mail]                   www.abchurch-group.com








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