igroup makes a strong start to 2003

This represents an increase of 53% over the same

four-month period last year, and puts the business well on track to exceed its year-end target of approximately £3billion (three billion pounds).

As it approaches its second anniversary as a GE company, igroup has cause for double celebration as it announced outstanding growth in two other key areas over the same four-month period:

active customers - at 94,000 up 31% on the equivalent 2002 period; and

mortgage and loan assets under management - at £4.5billion (four and a half billion pounds) up 66%.

These facts means igroup is close to reaching the significant milestones of 100,000 active customers and managed assets of £5billion. The Company expects both figures to be achieved soon after the year’s mid-point.

Commenting on this achievement, Jonathan Sadler, igroup’s Director of Sales & Marketing said, “I am delighted with the fantastic performance of the business in the first part of this year. It demonstrates the inherent strength and continuing appeal of igroup and its products to a very important part of the specialist mortgage market – our introducers. I’ve said it before and I make no apologies for saying it again, but they are the lifeblood of our industry. Without their energy, expertise and professionalism we simply would not be in the position we are today. We recognise this, and will continue to strive to be lender of choice for our business partners and their clients.”

Commenting further on the ever-changing shape of the specialist sector, Sadler added, “In common with our competitors, igroup has enjoyed a terrific run over the last few years. We now face many new challenges not least of which is complacency – something of which I intend igroup will never be accused. To meet these challenges we are continuing to evolve and develop our market-leading online process – iZone - and to explore and trial the appeal of new products. In addition, we are well advanced in our plans to restructure and grow igroup’s team of Sales & Marketing specialists to ensure it is able to exceed the expectations of our introducers. I am confident we will achieve this fundamental goal.”