Press Releases

The Board of WorldSpreads Group plc is pleased to advise that the Group’s core financial spread betting business has continued to trade strongly during the second half of its financial year. The small sports spread betting division, however, has had a difficult trading year. As previously disclosed, the Board undertook a review of this business in late 2008 and as a result, the Group has decided to exit this business. This will result in a ‘once off’ write down in the carrying value of the sports division of approximately €1.5m. The Board is currently reviewing a number of options in relation to the division and will make an announcement very soon.

Excluding the results of the sports division, the Board expects to announce Group profit before tax for the full year to 31 March 2009 in line with market expectations (excluding the effect of foreign exchange fluctuations). The depreciation in the value of Sterling against the Euro during the past financial year has reduced Group’s UK based revenues on a consolidated basis, which make up c. 40% of the overall Group revenue.

During the year, all of the Group’s key performance indicators have continued to show encouraging levels of growth in all geographical territories. The Group has continued its international expansion strategy with new partnerships signed in Poland, Russia, Dominican Republic and the Czech Republic during the past six months. It is expected that these new ventures will have a positive impact on the Group’s results in the next financial year. The Group’s continued focus on clients in the small to medium sized bet range has meant that the unprecedented market volatility has had a positive impact on the Group and has not contributed to any material bad debt provision.

The Board is confident that the strong growth in all key performance indicators to the end of March 2009 of the core business will be maintained during the coming year, particularly as the expansion in international markets continues to gather momentum.

The Board expects to announce the Group’s preliminary results for the year ended 31 March 2009 in June 2009.

For further information, please contact:

WorldSpreads Group plc
Niall O’Kelly, Chief Financial Officer
+353 (0)1 863 8888/+44 (0)20 7291 9180

Collins Stewart Europe Limited
Bruce Garrow
+44 (0)20 7523 8359

Peter O’Carroll
Bloxham
+353 (0)1 611 9200