Sale of Freehold Property

RNS Number:3577E
Sirius Financial Solutions PLC
22 October 2004

22 October 2004


           Sirius Financial Solutions Plc ("Sirius" or the "Company")

                      Announces Sale of Freehold Property


Sirius announces the exchange of contracts on its freehold office property in
Sutton Coldfield, the Company's former head office.  Completion is agreed for 12
November 2004. This disposal is in line with the agreed strategy of disposing of
the leasehold and freehold properties that made up the group's old office
network, occupied prior to its consolidation into new accommodation at the
Birmingham Business Park in January of this year.

Following completion, #275,000 of the sale proceeds of #700,000 will be used to
repay the commercial mortgage secured against the freehold property. The
remaining cash balance is anticipated to reduce the group's net debt position to
less than #100,000 at the date of completion. This reduction in debt follows the
trend achieved in H1 2004 when gearing fell from 20.9% as at 31 December 2003 to
9.5% as at June 30 2004.

The net book value of the freehold property was #695,948 on the date of
exchange.

Stephen Verrall, Chairman and Group Chief Executive of Sirius, said:

"The sale of the old Sirius headquarters marks a break with the past.  Our new
custom designed offices, close to Birmingham International Airport, are
providing a much improved working environment and a much more effective
marketing base for our global market."

Enquiries:

  Sirius Financial Solutions                            Citigate Dewe Rogerson
  (0121 779 8400)                                       (020 7638 9571)
  Stephen Verrall                                       Martin Jackson
  Richard Bowser



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