Eatonfield Group plc ("Eatonfield")

Trading Statement

Eatonfield has been notified that due to an expected deterioration in the future cash flows of the group, a previously agreed overdraft facility will not now be made available to it.  Following this notification, Eatonfield has secured an offer of loan finance, which, together with its existing resources, will provide the group with sufficient working capital for the next 8 to 10 weeks. 

The directors of Eatonfield are actively seeking opportunities to bring income producing assets into the group.  They also continue to believe that the group still has significant potential value in its key assets and are vigorously pursuing planning permissions and undertaking other value-enhancing activities in order to achieve asset realisations and thereby reduce the group's overall indebtedness.  Although there have been some recent planning successes and good progress is being made towards achieving some realisations, further short-term funding, in the order of £1.5 million, will be necessary to afford Eatonfield the opportunity to unlock this potential.  The Board is currently exploring a number of options to secure such additional working capital and a further update will be provided in due course.

18 February 2010

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