Countrywide increases Finance Facilities

Countrywide plc

9 February 2014

Countrywide increases Finance Facilities to £250 million

The Board of Countrywide plc is pleased to announce that it has reached agreement to increase the amount of its current finance facilities from £150 million to £250 million. The increased finance facilities (the "Facilities") will provide finance for the general corporate purposes of the Countrywide group, including the funding of potential acquisitions.

The Facilities comprise a £250 million revolving credit facility and are provided by Countrywide's current syndicate of banks: Abbey National Treasury Services plc, AIB Group (UK) p.l.c., Barclays Bank PLC, HSBC Bank plc, Lloyds Bank plc and National Westminster Bank plc. The Facilities will mature on 20 March 2018. The amount of the Facilities has been increased to provide additional borrowing capacity in line with the increase in the Countrywide group's profitability. Finance costs associated with the Facilities continue to be based on an agreed leverage ratio. Minor amendments have also been made to the terms of the Facilities; however no changes have been made to the leverage and interest cover covenants.

Jim Clarke, Group Chief Financial Officer, commented that:

"We are pleased that our existing banking partners continue to support us and we are able to continue our strategy for growth, both organically and through acquisitions, whilst maintaining conservative levels of financial leverage."

Enquiries:

About Countrywide plc

1. Countrywide plc, the UK's largest integrated property services Group, including the largest estate agency and lettings network, operates more than 1,300 associated branches across the UK.

Countrywide plc's network of expertise helps more people move than any other business in the UK and is a leading provider of estate agency, lettings, mortgage services, land and new homes, auctions, surveying, conveyancing, corporate property management services and commercial property.

Countrywide plc's award-winning service has earned the business over 180 high-profile industry awards in the last six years, with customers voting Countrywide Best Estate and Lettings Agency at the 2014 ESTAS awards. Our Land & New Homes team was named the UK's Best New Homes Agent for two consecutive years at the Estate Agency of the Year Awards 2012 and 2013 and Countrywide Surveying Services has for the third consecutive year won the Best Anti-Fraud Services Award at the Mortgage Finance Gazette Awards 2015.

2. Next Results Announcement

The next trading update is expected to be the 2014 full-year results, due to be issued on 26 February 2015.

3. Forward Looking Statements

This announcement has been prepared solely to provide additional information to the shareholders of Countrywide plc in order to meet the requirements of the FCA's Disclosure and Transparency Rules. It should not be relied on by any other party, or other purposes. Forward-looking statements have been made by the directors in good faith, using information available up until the date on which they approved this statement. Forward-looking statements should be regarded with caution, because of the inherent uncertainties in economic trends and business risks.