NDH Network Data

RNS Number:1555L
Network Data Holdings PLC
07 January 2008

07 JANUARY 2008



                           NETWORK DATA HOLDINGS PLC

                        ("Network Data" or "the Group")

                       Update on Homeowners Mortgages Ltd


The Group released a statement on 29th November 2007 updating the market on its
current trading and noting, inter alia, that in the light of the market
conditions at that time, the mortgage funding arrangements for Homeowners
Mortgages Limited, the Group's proposed whole of market lending proposition, had
been deferred.

The Board has now decided to suspend support for Homeowners Mortgages Ltd. The
seven members of staff have been released. The Board reluctantly took the
decision to halt its ongoing development in the light of conditions in the
credit markets and no clear timeline of when the company would be able to
commence operations as a mortgage lender.

We intend to revisit this opportunity when market conditions allow, possibly in
the second half of 2008 or more likely in 2009.


Grenville Folwell, Chairman, commented:

"The Group's core business, Network Data Ltd, a FSA regulated mortgage network,
continued to perform well. With gross mortgage lending in 2007 expected to be
circa �360bn, a 5% increase on 2006, the new mortgage business generated by NDL
during the year has seen a double-digit increase.

Network Surveyors Ltd, which acts as a panel manager for property valuations on
behalf of lenders, has seen a weakening of new business in the last couple of
months of 2007. However, this has been compensated for by the increasing number
of energy assessments carried out on properties in order to produce the Energy
Performance Certificate component of the Home Information Pack(HIP).

The roll-out of the HIP legislation on 14th December to include one & two
bedroom properties now means the whole market is covered. We expect to see a
rapidly increasing volume of business for Hipstar Ltd over the next few months.
We are also in talks with a number of major estate agency chains who are looking
to licence the Hipstar IT platform and white-label under their own names.

We see 2008 as the year when we will see a return from our investment in the
HIPs market and, despite the current slowdown in the mortgage market, we expect
to see recovery across all our markets by the second half of the year."



Enquiries:

Richard Griffiths
Chief Executive, Network Data Holdings plc
Tel: 01932 875 728

John Riddell
Noble & Company
Tel: 020 7763 2200



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