First Day of Dealings

RNS Number:9479B
American Leisure Group Limited
13 August 2007

  Not for release, publication or distribution in, or into, the United States,
                          Canada, Australia or Japan.


Press Release                                                     13 August 2007




                         American Leisure Group Limited




                            ("ALG" or "the Company")


                             First Day of Dealings


American Leisure Group Limited (AIM:ALGL), "The vacation resort company", today
announces the first day of trading of its Ordinary Shares on AIM, the market
owned and operated by the London Stock Exchange plc.  Dawnay, Day Corporate
Finance Limited is acting as Nominated Adviser and Collins Stewart Europe
Limited is acting as Broker to the Company.  The market EPIC is ALGL.L.


Admission to trading follows a placing of the Company's Ordinary Shares, which
raised #75 million before expenses at the placing price of 120 pence per share.
The Company will have a market capitalisation of #204 million based on this
placing price.


Malcolm Wright, Chief Executive Officer of ALG, said: "We are delighted with the
significant interest from our new institutional shareholders, who have
demonstrated their tremendous confidence in American Leisure Group.  To have
raised #75 million in such a difficult market for new issues is particularly
gratifying and reflects their belief in the strength of our proposition."


Placing price per share                                                                               120p
Number of New Ordinary Shares issued by the Company in the Placing                              62,500,000
New Ordinary Shares as a percentage of the enlarged issued share capital                             36.8%
Number of Ordinary Shares in issue immediately following Admission                             169,973,228
Market capitalisation at the placing price                                                    #204 million
Gross proceeds of the placing receivable by the Company                                        #75 million
Estimated net proceeds of the placing receivable by the Company                              #68.5 million


ALG is a vacation resort group currently developing 121 acres of land, with a
programme to develop its further 395 acre landbank in three main locations, all
in close proximity to the Disney theme parks in Orlando, Florida.  The land
owned by the Group has been independently valued at US$625 million.


In aggregate, over 7,000 resort units are planned by the Group to be developed
on these sites.  The finished resorts will have a range of leisure facilities
and will be able to cater for a potential 300,000 families each year.  The Group
has already entered into contracts with purchasers in respect of over 700 units
and has received deposits for pre-sales of those units which have a total sales
price of more than US$300 million.


ALG has been created to provide a fully integrated approach to the development,
selling and financing of vacation packages from the initial construction of
resorts, to the financing of unit sales or vacation club memberships through to
the management of the resorts as well as international travel services.


The global vacation ownership industry is one of the fastest growing segments in
the hospitality industry, with a 15 year compound annual growth rate of nearly
10%.  This strong trend is expected to continue as vacation ownership
penetration in US households remains under five percent and demographic factors
and travel and hospitality demand continue to drive industry growth.


ALG's flexible approach to selling vacation and resort ownership, offering whole
ownership or fractional ownership as well as vacation club ownership, will allow
the Company to take advantage of growth in the market.  ALG has a number of
competitive advantages over its competitors:

*       Nature of landbank: In view of current land ownership, it is the
        Directors' view that it would be very difficult for a new entrant to 
        the Florida resort management market to obtain an equivalent amount of 
        such land within an equivalent distance of the major theme parks in the
        Orlando area that could support a resort with large scale premium 
        quality amenities.  ALG has already pre-sold 700 units.

*       Range of services: ALG will offer a complete package of resort and
        vacation ownership sales, hospitality services, management, and mortgage
        banking, which distinguishes it from competitors who only engage in one
        or some of these industry segments.

*       Flexibility of offering: ALG's strategy offers the flexibility of
        multiple ownership structures or the various sales channels that will
        benefit both ALG and its clients.

*       Complementary travel business: As a consequence of having its own
        travel distribution network the Directors believe that ALG can increase
        its resort occupancy as well as its vacation and resort ownership
        marketing base.

Malcolm Wright, Chief Executive Officer of ALG, said: "The additional funds will
enable us to accelerate our exciting growth strategy and launch American Leisure
Group as one of the premier vacation resorts for families wanting to holiday in
Orlando.  A considerable proportion of the customer base for our vacation
resorts is from the UK and Europe and joining AIM significantly enhances our
credibility in the marketplace and raises the profile of American Leisure Group
here."

                                    - Ends -


For further information:
American Leisure Group Limited
Malcolm Wright, Chief Executive Officer                Tel: [phone]


Dawnay, Day Corporate Finance Limited
Gerald Raingold                                         Tel: [phone]
Nick Lovering                                          Tel: [phone]
[e-mail]                                    www.dawnayday.com


Collins Stewart Europe Limited
Hugh Field                                             Tel: [phone]
[e-mail]                               www.collins-stewart.com



Media enquiries:
Abchurch
Heather Salmond / Gareth Mead                          Tel: [phone]
[e-mail]                            www.abchurch-group.com



Images

Copies of an artist's impressions of the Tierra del Sol resort are available
from Abchurch.


Notes to Editors

ALG's strategy is to provide an integrated approach to the development, selling
and financing of vacation resorts which will take advantage of the natural
synergy between travel distribution and the development, sales, and management
of such destinations.  Business activities currently include vacation resort
development and unit sales, whilst planned additional activities include
vacation and timeshare club sales and operations, and vacation club financing
activities.  In addition, ALG has significant operations in the travel services
and distribution markets.


ALG's assets are sites that it plans to develop into vacation resorts near
Orlando, Florida.  It is intended that over 7,000 resort units be developed on
these properties, which would then be capable of accommodating over 300,000
families per year.  The Company estimates that the property comprising the
initial portfolio will be fully developed by 2015.  ALG intends to develop large
scale resorts that will support the construction of extensive resort amenities,
such as club houses, restaurants, health spas, swimming pools and other
recreational facilities.  ALG's proposed amenity offering is expected to create
significant demand for the resorts.  Each resort, starting with Sonesta at
Tierra del Sol, will have use of an extensive central resort facility complex
with a scale and scope which, the Directors believe, currently can not be found
at any other vacation resorts in the region, excluding hotel operations.  Each
resort's amenity packages, combined with the size of the resort accommodation
units, will attract families away from typical hotel rooms and into its resorts.


In January 2005 ALG signed a 20 year management and brand affiliation agreement
with Sonesta, which is contracted to manage the resort at Tierra del Sol.  For
over 60 years, Sonesta has owned, managed, designed, built and marketed hotels
in the USA and elsewhere, and has built up an excellent reputation in the
hospitality management market.  The affiliation with Sonesta is an example of
ALG's strategy of ensuring that the management of the resorts will be of a high
quality.


The management team has, in aggregate, over 50 years of direct involvement with
the businesses involved in resort property development, vacation club, timeshare
sales or hospitality management.


The Market

Florida is now the leading time share centre in the US with an estimated 30% of
the market by number of units.  The Directors believe that increased regulation
and codes of conduct governing the marketing and cooling off periods for
vacation club sales, together with significant participation by respected groups
such as Disney, Marriott and Hilton, have enhanced the reputation of vacation
clubs in Florida.


Orlando has long been one of the leading international tourist destinations.
Magic Kingdom Park, Epcot, Disney-MGM Studios, Disney's Animal Kingdom, Sea
World Orlando and Universal Studios are just a sample of theme parks driving
continued growth in Orlando tourism.  Travel to Orlando has grown at a
consistent rate over the last several years, from approximately 40 million
visitors in 2001 to approximately 50 million visitors in 2005.  In 2006, seven
of the top ten most popular North American theme parks were in Florida, with
Orlando theme parks accounting for 51% of the aggregate attendance at the twenty
most popular North American theme parks.


Many parts of the US property market are undergoing or have undergone a price
correction.  Primary residence and second home investment property sales
declined by 4.1% and 28.9% respectively in 2006.  By contrast, during the same
period, vacation home sales increased by 4.7% and in the first two quarters of
2007, house prices in Orlando rose 6% year on year.  The Directors therefore
believe that the markets for both Orlando property and vacation homes remain
positive and that other factors that are negatively affecting the wider US
property market are of limited relevance to ALG.



Management Biographies


Directors

Malcolm Wright, Chief Executive (aged: 56)

Mr. Wright founded ALG's subsidiary, American Leisure Holdings Inc. (ALHI), in
1998 and was responsible for devising the Group's business plan.  Previously, he
developed and constructed over 1,000 homes in England between 1983-1989 with a
number of different UK property companies, which then merged and floated on the
London Unlisted Securities Market.  Mr. Wright also developed over 450 vacation
homes in Spain from 1983-1992 with Leisureshare International.  Mr. Wright was
admitted to Associate Membership of the Institute of Chartered Accountants in
England & Wales in 1974 and to Fellowship in 1978. Along with his business
partner, Roger Maddock, he has assembled the Group's Initial Portfolio.


Frederick Pauzar, Director of Corporate Development (aged: 52)

Mr. Pauzar joined ALHI in September 2005.  Previously, he was the Founder,
Chairman and CEO of Group One Productions, Inc., a real estate development &
consulting firm, since 1991.  Mr. Pauzar was formerly a managing director at a
major investment banking firm, providing senior management direction to national
and international firms engaged in business and property development and
operations.  Mr. Pauzar provided concept planning services in relation to
Intrawest Corporation's US$1 billion Station Mont Tremblant development
expansion and provided essential consulting services in relation to two
international hotel brands for Bass PLC.  Mr. Pauzar also provided strategic
global planning assistance to Cirque du Soleil.  He brings over 30 years of
experience in strategic planning, finance, development, management, and
operations to the Group.


Sir David Garrard, Non Executive Chairman (aged: 68)

Sir David, who is a Fellow of the Royal Institute of Chartered Surveyors, has
been engaged in the real estate sector, originally as a consultant and then as a
Principal, for over forty years.  Having acquired and taken private the publicly
quoted Land Investors plc in the late eighties, he repositioned the company and
expanded its activities, undertaking the development of such buildings as the
United Bank of Kuwait headquarters in the West End and the Bayerische Landesbank
Headquarters in the City.  Two years later, having repaid all debt arising from
the original acquisition of the company, he received an offer to sell the
holding company and sold his stake, founding Minerva Plc.  Sir David became the
Chairman of, Minerva and, prior to its flotation on the London Stock Exchange in
1996, the company was one of the largest privately owned pure commercial
property investment companies in England.


Roger Maddock, Non Executive Director (aged: 56)

Mr. Maddock, FCA, was Chairman and a Principal Shareholder of Worthy Trust
Company in Jersey from 1984 until it was sold to the Allied Irish Bank Group in
1999.  He remained with Allied Irish Bank (CI) Limited acting as a non executive
director until 2005.  In 2005 he became Chairman of Development Capital
Management Jersey Limited (DCMJ), a fund manager specialising in property
finance, and is a director of four AIM listed funds managed by DCMJ.


Rupert Faure Walker, Independent Non Executive Director (aged: 59)

Mr. Faure Walker is a Managing Director of Investment Banking at HSBC Bank plc.
In 1977, he joined the Corporate Finance division of Samuel Montagu & Company
Limited (subsequently became HSBC Investment Bank).  He was Head of Corporate
Finance from 1993 to 1998.  For the last 30 years he has been extensively
involved in advising companies on mergers and acquisitions, IPOs and capital
raising.


David Mace, Independent Non Executive Director (aged: 52)

David Mace has been involved in developing businesses internationally over the
last 25 years.  In 1987, he led the management buyout of Sea Life Centre
(Holdings) Ltd, through to its subsequent flotation in 1992 as Vardon plc, the
leisure group.  He has served as a non-executive director of private and venture
capital backed companies in France and the UK and has also acted as management
consultant to businesses in Europe, the Far East and New Zealand.  He is a
non-executive director of GW Pharmaceuticals plc, Lookers plc, Inspired Gaming
Group plc and Vectrix Corporation and BlueStar SecuTech Inc.


Other Key Management

Ron Leventhal, Managing Director, Resorts Division (aged: 54)

Mr. Leventhal is a highly experienced and well regarded figure in the resorts
and timeshare management industry, which he has been involved with for the past
15 years.  He was recruited by Westgate Resorts Limited as CEO in 1992 to
assemble and lead a management team that was significant in bringing Westgate to
a position of dominance in the Orlando timeshare industry.  In 1997, he formed
Tempus Resorts International, funded by Apollo Real Estate Investment Fund,
which has become a major competitor in the Orlando timeshare market.  He has
consulted directly for the owners of Resort World, which in 2003 was re-branded
as Celebrity Resorts, and Star Island resorts in Orlando, and was instrumental
in Celebrity's acquisition of eleven additional resorts.


Omar Jimenez, CPA (aged: 46)

Mr. Jimenez is the Chief Financial Officer of ALHI.  He has eighteen years of
executive managerial experience as a chief financial officer to public and
private companies operating in national and multinational arenas that include
21st Century Holdings, Inc., Onyx Insurance Group, Southern Group Indemnity,
Inc., Star Casualty Insurance Co. and Symmetry Management Company.  He was also
Director of Operations at US Installations, Inc. and served as a Certified
Public Accountant for five years with Arthur Andersen & Co.


Jeffrey Scott (aged: 51)

Mr. Scott was appointed as President of Hickory Travel Services in March 2006
and is Managing Director of TraveLeaders.  Previously, he was General Manager of
Cendant's travel services subsidiary from 2002 to 2006 and held senior
management positions at Worldspan LP from 1994 to 2001.


Disclaimer


Some of the information contained in this press release contains forward-looking
statements. Forward-looking statements are based on our current expectations and
assumptions regarding our business, the economy and other future conditions.
Because forward-looking statements relate to the future, they are, by their
nature, subject to inherent uncertainties, risks and changes in circumstances
that are difficult to predict. We caution you not to rely on any such statements
as statements of historical fact or as guarantees or assurances of future
performance. We undertake no obligation to publicly update or revise and
forward-looking statements.


This press release is not for distribution (directly or indirectly) in or to the
United States, Canada, Australia or Japan. This press release is not an offer of
securities for sale in or into the United States, Canada, Australia or Japan.


This press release does not constitute or form part of any offer or invitation
to sell or issue, or any solicitation of any offer to purchase or subscribe for,
any Common Shares of the Company or any other securities, nor shall it (or any
part of it), or the fact of its distribution, form the basis of, or be relied on
in connection with, any contract therefore.


The securities described herein have not been, and will not be registered under
the United States Securities Act of 1933, as amended (the "Securities Act"), or
any U.S. state securities laws. They may not be offered or sold in the United
States, except in transactions not subject to or exempt from, the registration
requirements of the Securities Act and applicable state laws. The Company does
not intend to register any portion of the securities in the United States or to
conduct a public offering of securities in the United States. No money,
securities or other consideration is being solicited and, if sent in response to
the information contained herein, will not be accepted.



                      This information is provided by RNS
            The company news service from the London Stock Exchange
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