DMD Diamond Life.

RNS Number:7954O
Diamond Lifestyle Holdings PLC
27 February 2008

                    Diamond Lifestyle Holdings PLC (the "Group")
                               Trading update


As disclosed in the notification made to the market 20 September 2007 the impact
of the tightening of global credit markets would lead to a review of lending
criteria by lenders and the reduction of fees and commissions paid to the Group
by them.


The board report that the Group's trading performance to 31 December 2007 has
been adversely affected by these factors, however the board remain confident for
the outlook for 2008.


A major challenge for the Group in 2007 was the difficulty of placing business
due to a tightening of lending criteria, combined with a withdrawal of some
lenders from the market place, and downward pressure on margins and fees.



Despite the current economic situation in the United Kingdom the directors are
pleased to note that demand for the Group's services and products remains high.



To address the situation during 2007 the board undertook a review of the Group's
cost base and has implemented changes that will result in significant future
savings.



The board has continued its strategy of identifying complementary businesses
where it believes there is the potential to exploit quality databases and sales
processes that could be combined with the Group's robust compliance procedures.
The Board also continues to exploit innovative ways of reacting to the on-going
demand for Group products in a challenging banking environment.



To underpin the working capital requirements to implement the strategy for the
current year, the Group will need to raise further funds.  The Group will make a
further announcement in due course.



Contact:


Paul Hughes, Chairman                     Diamond Lifestyle Holdings Plc              07970 299 831
Liam Murray, Nominated Adviser            City Financial Associates Ltd               020 7492 4777
Ruari McGirr, Broker                      St Helen's Capital                          020 7628 5582




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