Europe-wide growth at CHG-MERIDIAN

The CHG-MERIDIAN Group, one of Europe's leading providers of IT financial services, has sharply expanded its volume of lease originations this year to date. By the end of the third quarter it had generated lease originations of around €406 million, an increase of 8.8% on the same period last year. Two-thirds of the total volume was achieved by the German parent company and one-third by its 13 subsidiaries in other European countries. The figures were announced on Thursday by Jürgen Mossakowski, the company's CEO.

Mossakowski reported that CHG-MERIDIAN had generated particularly strong growth in its Spanish and Belgian markets. In Belgium it increased its lease originations twelvefold and, following its acquisition of the CSL Group in 2005, has become one of the key players in IT leasing. It also posted notable growth in Switzerland and Austria. However, Mossakowski announced that the two subsidiaries founded in the Czech Republic and Poland in 2004 and 2005 respectively had so far failed to meet expectations.

Sales & marketing director Peter Horne gave an upbeat assessment of CHG-MERIDIAN's successful entry into the IT small-ticket leasing business, where it finances small-scale IT projects. Since 1 July this year the company's subsidiary CHG-direct has been offering investment financing packages from as little as €1,000 for small businesses and self-employed persons. Unlike big-ticket projects, which CHG-MERIDIAN sources by proactively approaching its clients, small-ticket deals are currently referred by around 200 sales partners throughout Germany. "Now even small businesses can benefit from our extensive experience as an IT financial services provider", stressed Horne.

The CHG-MERIDIAN Group's robust financial performance is reflected in its headcount. "This year alone we have created 23 of the 393 jobs we have in Europe", added Mossakowski. And this upward trend is set to continue: the Group is currently advertising some 20 positions on its online job exchange.

Over the coming months CHG-MERIDIAN plans to step up its efforts to become a one-stop provider of IT services. In addition it aims to beef up its presence in eastern Europe by making selective forward-looking investments.

About the CHG-MERIDIAN Group
The CHG-MERIDIAN Group is one of Europe's leading non-captive providers of financial solutions and services in the field of information and communications technologies. Established in 1979, it offers its clients a fully comprehensive IT infrastructure service – from the planning and finance stages via the procurement process and installation to the collection and remarketing of equipment in the company's dedicated brokerage centre. The independence and in-depth expertise of CHG-MERIDIAN's staff ensure that each client receives the best-possible customised service.

In 2005 the company's 370 employees generated lease originations totalling €604 million. The CHG-MERIDIAN Group had total leased assets under management worth €2.1 billion (at cost) on 31 December 2005.

The CHG-MERIDIAN Group operates in 14 European countries: Germany, Austria, Switzerland, the United Kingdom, Ireland, Belgium, the Netherlands, France, Spain, Italy, Poland, the Czech Republic, Slovakia and Russia.