RNS Number:8589K
Elite Strategies PLC
08 May 2003



Elite Strategies plc ("Elite" or "the Company")



In the chairman's statement which accompanied Elite's interim results for the
six months ended 31 December 2002, released on 26 March 2003, the Company
alluded to poor stock market performance and negative press about pensions,
which had reduced demand for investment products.  Trading has continued to be,
and is expected to remain challenging, for the remainder of the current
financial year, which ends on 30 June 2003.   Accordingly, its results are
expected to be worse than previously anticipated.



Croesus Financial Services Limited ("Croesus"), which was acquired on 26 March
2003, is performing to expectations and is being successfully integrated within
the Group.  Jonathan Fry, who joined with Croesus and who was appointed Chief
Executive on the same day, is conducting a review of the Group and believes that
efficiencies should be achievable as a result of the merger of the two
businesses, although these benefits will not be reflected in the current
financial year.



Elite intends to make its preliminary announcement of results for the year
ending 30 June 2003 in September 2003.



For further information please contact:



Jonathan Fry
Chief Executive
Elite Strategies plc               08707 636020



Lindsay Mair
Corporate Synergy plc              020 7626 2244









                      This information is provided by RNS
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