Press Room

New credit facility and temporary suspension of trading on AIM

Further to the announcement on 9 June that it was engaged in advanced discussions to secure an additional debt facility, American Leisure Group Limited (“ALG”) today announces that Stanford International Bank Limited (“Stanford”) has committed to provide new credit facilities of $17.5 million to finance working capital and to allow for the completion and closing of ALG’s first resort units, subject to customary general conditions and requirements.
 
CEO Malcolm Wright stated today, “Against the extraordinarily difficult financial environment that exists in our industry today, we are gratified Stanford has provided this additional support. This facility will enable construction at ALG’s Sonesta Resort Orlando at Tierra del Sol to continue with a view to opening the resort next Spring. We believe that when open it will soon become one of Orlando's most popular family destinations."
 
ALG was scheduled to issue its results for the period ending 31 December 2007 before the end of June.  However, the resolution of certain matters relating to the Company’s audit remain outstanding and require additional materials to be provided to the auditors and it has not proved possible to finalise the audit and hence the results.  Consequently, trading in the Company’s shares will be suspended with immediate effect under Rule 19 of the AIM Rules.  The Company expects to be able to make a further announcement later this week.

For further information:

American Leisure Group Limited
Fred Pauzar, Director of Corp. Development
Malcolm Wright, Chief Executive Officer	Tel: +44 (0) 20 7398 7700
	www.americanleisuregroupltd.com
Dawnay, Day Corporate Finance
Nick Lovering / Gerald Raingold	Tel: +44 (0)20 7630 4140
	www.dawnayday.com

Media enquiries:

Abchurch
Henry Harrison-Topham / Gareth Mead	Tel: +44 (0) 20 7398 7710
gareth.mead@abchurch-group.com	www.abchurch-group.com