New Funding Lines

1PM PLC

(AIM: OPM)

New Funding Lines

1pm plc ("1pm" or "the Company"), the AIM listed independent provider of asset finance facilities to the SME sector, is pleased to announce that it has increased its funding lines by £700,000 via two separate loans.

The loans are exclusively for the purpose of writing new leases. The Company continues to generate profits on a monthly basis and to fund part of the growing lease portfolio with cash generated from day to day trading. Levels of new business enquiries remain encouraging and have been boosted by the Company's new lending initiative in Northern Ireland.

Maria Hampton, Managing Director of 1pm, commented:

"The Board believes that these loans demonstrate increased confidence in the Company and as cash is our raw material we are delighted to have access to additional funds which will be used to grow the lease portfolio and therefore strengthen the balance sheet further."

About 1pm:

1pm plc is an established small ticket leasing company focused on providing SMEs with an accessible funding pool. Customers must have clear credit histories and an ability to pay their commitments. Assets leased are business critical. 1pm typically lends between £1,000 - £40,000 for between 12 and 60 months.