31.10.2008 – 11:53

LINK Financial

LINK Financial Forms GBP250 Million Partnership

London (ots/PRNewswire)

LINK Financial ("LINK"), the
leading European purchaser and servicer of performing and
non-performing consumer receivables, today announces the formation of
a GBP250 million partnership with one of the world's largest pension
funds based in Europe. The agreement initially covers a co-investment
in a portfolio of UK distressed loans that has been acquired by LINK
from a global consumer lender as part of a multi-year contract which
commenced in September 2007.

As part of the agreement, the partners will each hold fifty
percent of the assets and LINK will be the exclusive servicer through
its proprietary platform that also includes a dedicated automotive
team which is the largest of its kind in Europe. The structure which
was created is the latest of several bespoke investment vehicles that
LINK has launched with its financial partners.

Paul Burdell, CEO of LINK Financial Group, commented: "While our
partner has requested anonymity, I am absolutely delighted to be in a
position to welcome this world-class fund as a LINK partner. This
joint venture is not the first transaction we have done with them,
but both parties see it as the beginning of a longer-term agreement
that combines our more than 10 years of distressed investing and
servicing with their insight, strength and leadership. What it also
defines is another milestone in the LINK strategy to partner with
leading investors by providing them with transparent, simple to
understand and innovative solutions in the investment, management and
servicing of consumer receivables."

Notes to the Editors

LINK Financial Group

LINK is one of Europe's largest purchasers and servicers of
performing and non-performing consumer receivables. The Company has
acquired rights to $8.25bn of receivables, which represents more than
2 million customers. LINK operates in over 20 countries and has
servicing operations in the UK, Spain, Italy, Germany and Ireland.
Institutional shareholders include HBoS, Morgan Stanley and Cheyne
Capital Management.

For further information, please contact:
    Paul Burdell / Lorenz Oesterreich
    LINK Financial +44(0)20-7793-2670
    Andrew Jaques /Nick Denton / Ian Payne
    Hogarth Partnership Limited +44(0)20-7357-9477

Contact:

For further information, please contact: Paul Burdell / Lorenz
Oesterreich, LINK Financial +44(0)20-7793-2670; Andrew Jaques /Nick
Denton / Ian Payne, Hogarth Partnership Limited +44(0)20-7357-9477