For immediate release: October 2005

AUDLEY COURT ACQUIRES LAND PORTFOLIO

Raven Audley Court has acquired six new developments across the UK, providing over 600 new homes with a gross development value in excess of £125 million. Stretching from Maidstone in Kent to Matlock in Derbyshire, the sites will specialise in the development of quality housing schemes for the elderly of a type and on a scale not seen before in the UK.

Raven Audley Court is a joint venture created by Anton Bilton, Chairman of Raven Mount Plc, and Nick Sanderson, founder and owner of Audley Court. Both men have a pedigree in the property and construction industry.

The new portfolio of properties will draw on the expertise of both companies; Raven has a versatile property and development portfolio but is renowned for its sympathetic listed building conversions; Mr Sanderson has considerable expertise in the care sector, pioneering a new style of independant housing for older people with his former company Beaumont Healthcare and, since 1991, with Audley Court.

David Wild, sales and marketing director for Audley Court comments: “People of retirement age currently make up a quarter of this country's population and many are living in homes that are too big for them and which are costly to maintain but they are terrified of having to give up their property and a legacy for their children.

That adds up to £480 billion of underused family accommodation, a housing logjam which our schemes have the potential to unlock. If our purchasers acquire a home for two thirds of the value of their existing property then equity is released to fund future care needs.

As a leading developer in gracious independent living, the company has over 20 years experience in the building and management of retirement properties, during which time it has built an enviable reputation in the conversion of important but neglected buildings.