Top Ten Holdings Plc News Announcement

Top Ten Holdings PLC - Trading Statement

RNS Number:4482R
Top Ten Holdings PLC
02 April 2008


TRADING STATEMENT - 2 April, 2008.

Top Ten Holdings plc ('the Company') is the UK's third largest bingo operator
with 38 clubs.

As was announced in the Interim Statement on 21 November 2007 the impact of the
smoking bans in England and Wales in April and July of 2007 and the new Gambling
Act in September 2007 had materially and adversely affected the Company's
trading results.

Since 21 November 2007 the Company has continued to experience very challenging
trading conditions and the Company expects that profit before tax and
restructuring costs for the year to end March 2008 will be slightly below market
expectations. However, trading profits have been improving steadily from January
due to the effect of the cost reduction measures undertaken since the half year
end.

As at 30 September 2007 the Company had net debt of £28 million. The Company has
reached agreement in principle with its bankers for amended facilities that
reflect the current reduced level of profitability. The terms of these amended
facilities are expected to include the conversion of part of the existing senior
debt into mezzanine debt carrying a higher rate of interest and the issue to the
bank of warrants to subscribe for up to 10% of current issued share capital of
the Company.


Further information :

Andrew Marshall
Greycoat Communications
Tel : 0207 960 6007

Graham Kerr
Top Ten Holdings plc
Tel : 01727 850 793


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