RNS Number : 2337W
  American Leisure Group Limited
  09 June 2008
   

   9 June 2008
    
    American Leisure Group Limited

    ("ALG" or "the Company")

    Further re: Corporate Update

    Further to its corporate update, which was announced on 25 March, American Leisure Group Limited announces that, in light of the
continuing and well-publicised difficult conditions for companies seeking capital investment for the development of US residential property,
it is now expected that the Company's Sonesta Orlando Resort at Tierra del Sol will be opened early in 2009.

    The Company is currently in advanced discussions with an existing debt provider about securing a significant additional debt facility.
These discussions are expected to conclude during June 2008.

    However, prevalent market conditions, and the slower pace of construction of town home units and the resorts amenity package, are
continuing to have a detrimental impact on the Company's sales efforts.

    The Company is continuing to consider the financial implications of prevalent market and debt conditions and will provide a further
update thereon in its financial results for the period to December 2007, which will be announced in late June 2008.

    -ENDS -



    For further information:
 American Leisure Group Limited
 Fred Pauzar, Director of Corp. Development             Tel: +1 407 251 2240
                                                   Tel: +44 (0) 7866 066 669
 Malcolm Wright, Chief Executive Officer                Tel: +1 407 251 2240
                                             www.americanleisuregroupltd.com

 Dawnay, Day Investment Banking
 Nick Lovering                   Tel: +44 (0)20 7630 4140
                                        www.dawnayday.com

    Media enquiries:
 Abchurch
 Henry Harrison-Topham / Gareth Mead  Tel: +44 (0) 20 7398 7710
 gareth.mead@abchurch-group.com         www.abchurch-group.com 



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