Released on: September 23, 2008, 6:57 am

Press Release Author: Peter Brice

Industry: Financial

Press Release Summary: First Prime Group: Bailout plan may draw line under
house-builders’ stock slide.

Press Release Body: First Prime Group are thought to be considering investment in
the shares of beleaguered house-builders following announcement of the unprecedented
rescue plan for the market in CDOs (Collateralized Debt Obligations).

A source close to First Prime Group said that the stated aim of the bailout was to
free banks and financial institutions to lend to businesses and consumers.

The source said that the Asian-based asset manager may make tentative forays into
the market to acquire heavily-sold stock in the hope that homebuyers will return to
stem the falls in property values that kicked off the credit crunch over a year ago.


“They [First Prime Group] see the market as cyclical and, eventually, confidence
will return to the housing market. Now may be a good time to progress this
contrarian investment strategy.”

First Prime Group have apparently advised clients to avoid the sector but the rescue
package, according to the source, may yet stem losses and therefore is worthy of
consideration.


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