Press Room

Trading Update and Directorate Change

Further to the announcement on 30 June 2008 that Stanford had committed to provide new credit facilities of $17.5 million, ALG today announces that Kennedy Funding Inc. has committed to provide up to $40 million of new additional credit facilities to the Company which will be used to finance working capital and to facilitate completion of ALG's first resort unit sales and completion of the first phase of amenities, subject to receipt of satisfactory property valuations and customary general conditions and requirements. The Company is currently in discussion with a number of parties to secure further construction loan facilities to enable the build out of the next phase of resort units.

The Company is now nearing completion of the work with its auditors, Grant Thornton, LLP, to finalise its financial statements and annual report for the period ended 31 December 2007. The Company will provide further announcement as soon as practicable.

The Board of the Company also announces the resignation today as a director of ALG of Fred Pauzar, Director of Corporate Development.

David Mace commented today: "I would like to thank Fred Pauzar for all his hard work in helping bring the ALG concept into existence. The market conditions in which we find ourselves are extremely challenging and we continue to reassess ALG's rollout strategy, management and its cost base in the face of the severe liquidity constraints in the marketplace in which we are now operating. However, the Board remains confident in the attractiveness of ALG's proposition."

For further information:

American Leisure Group Limited
David Mace, Chairman Malcolm Wright, Chief Executive Officer	Tel: +1 407 251 2240
	www.americanleisuregroupltd.com
Collins Stewart Europe Limited
Hugh Field / Helen Goldsmith	Tel: +44 (0) 20 523 8350
	www.collins-stewart.com

Media enquiries:

Abchurch
Henry Harrison-Topham / Gareth Mead	Tel: +44 (0) 20 7398 7100
gareth.mead@abchurch-group.com	www.abchurch-group.com