14th Sep 2007 14:20
Paragon Group Of Companies PLC14 September 2007 The Board of Paragon has noted today's statement issued by Northern Rock PLC andits consequent impact on Paragon's share price. Having completed a £1.0 billionsecuritisation on 19th July 2007 on fine terms, Paragon's new business flows arefully accommodated within warehousing facilities with a current capacity of some£1.8 billion, adequate at current rates of origination to fund new lending into2008. Moreover, Paragon has no involvement in the US mortgage market nor anyinvestment, directly or indirectly in US sub-prime mortgage securities, SIVs,CDOs or similar vehicles. In line with its normal practice, Paragon will issue a pre close tradingstatement in relation to the financial year ending on 30th September 2007 onTuesday 18th September 2007. For further information please contact: John G GemmellGroup Company Secretary0121 712 2075 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Paragon Group