ALEA Alea

RNS Number:8552Z
Alea Group Holdings(Bermuda) Ltd
06 July 2007


RNS Number:
Alea Group Holdings (Bermuda) Ltd.
6 July 2007


                       Alea Group Holdings (Bermuda) Ltd.

                 Directorate Changes and New Financing Facility



Directorate changes:

Alea Group Holdings (Bermuda) Ltd ("Alea" or the "Company") announces the
resignation of each of John Reeve, Timothy Faries, James Fisher, Todd Fisher,
Perry Golkin, R. Glenn Hilliard, and Scott Nuttall as directors of Alea with
effect from 5 July 2007.

Alea is pleased to announce the appointment of Robert Kauffman, Randal Nardone
and Greg Share as directors of the Company with effect from 5 July 2007. Each of
Mr Kauffman, Mr Nardone and Mr Share will act as a non-executive director of
Alea. Mr Kauffman has been appointed Chairman of the Board of Directors.

Mr Kauffman is a director of Fortress Investment Group LLC and the chairman of
the board of GAGFAH S.A., which are publicly quoted companies. Mr Nardone is a
director of Eurocastle Investment Limited, GAGFAH S.A., and Fortress Investment
Group LLC which are publicly quoted companies. There are no other details that
are required to be disclosed by paragraph 9.6.13 of the Listing Rules of the UK
Listing Authority in connection with the appointments of Mr Kauffman and Mr
Nardone as directors of the Company.

There are no details that are required to be disclosed by paragraph 9.6.13 of
the Listing Rules of the UK Listing Authority in connection with the appointment
of Mr Share as a director of the Company.


New financing facility:

Alea further announces that it has implemented a new term loan credit facility
with Banc of America Securities Limited as facility agent to refinance a portion
of the previous facility agreement. The remaining amount of the previous
facility was prepaid with funds available to Alea. This new credit facility
reduces to $30 million on the 180th day following this announcement and matures
on the second anniversary of this announcement. This remaining balance will be
used to support Alea's medium term development.

Alea's previous credit facility was scheduled to mature at the end of September
2007 and the amounts outstanding under it became repayable upon the change of
control of the Company arising from the offer on behalf of FIN Acquisition
Limited for the issued and to be issued share capital of Alea becoming
unconditional in all respects.


                                      ####


For further information, please contact:


Media: Sheel Sawhney +1 860 258 6524 
Analysts & Investors: Kirk Lusk +1 860 258 6566

Financial Dynamics +44 20 7269 7114
Robert Bailhache
Nick Henderson


Certain statements made in this press release that are not based on current or
historical facts are forward-looking in nature including, without limitation,
statements containing words "believes," "anticipates," "plans," "projects,"
"intends," "expects," "estimates," "predicts," and words of similar import. All
statements other than statements of historical facts including, without
limitation, those regarding Alea Group Holdings (Bermuda) Ltd's financial
position, business strategy, plans and objectives of management for future
operations (including development plans and objectives relating to Alea Group
Holdings (Bermuda) Ltd's products and services) are forward-looking statements.
Such forward-looking statements involve known and unknown risks, uncertainties
and other important factors that could cause the actual results, performance or
achievements of Alea Group Holdings (Bermuda) Ltd to be materially different
form future results, performance or achievements expressed or implied by such
forward-looking statements. In particular, forecasting of reserves for future
losses is based on historical experience and future assumptions. As a result
they are inherently subjective and may fluctuate based on actual future
experience and changes to current or future trends in the legal, social or
economic environment. Such forward-looking statements are based on numerous
assumptions regarding Alea Group Holdings (Bermuda) Ltd present and future
business strategies and the environment in which Alea Group Holdings (Bermuda)
Ltd will operate in the future. These forward-looking statements speak only as
at the date of the document or other information concerned. Alea Group Holdings
(Bermuda) Ltd expressly disclaims any obligations or undertaking to disseminate
any updates or revisions to any forward-looking statements contained herein to
reflect any changes in Alea Group Holdings (Bermuda) Ltd 's expectations with
regard thereto or any change in events, conditions or circumstances on which any
such statement is based.






                      This information is provided by RNS
            The company news service from the London Stock Exchange

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