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Stuart Cumberland, previously Finance Director, will take responsibility for Strategic and Commercial Development.

Richard Arden was previously an executive director of Westfield Contributory Health Scheme Limited, a leading provider of health insurance to the public where his responsibilities included finance, compliance and information communication technologies. His other experience has been at South Yorkshire Investment Fund Limited and Coopers & Lybrand, latterly PricewaterhouseCoopers, where he qualified as a Chartered Accountant.

Commenting on his appointment, Paul Carter, Chief Executive, said “I am delighted to welcome someone of Richard’s calibre to the management team.  His experience of consumer related financial services will be invaluable as we continue our plans to grow the Company in the years to come.”

Debts.co.uk (LSE:DETS), through its subsidaries, specialises in IVAs, debt management programmes and secured loans or second mortgages, to over-indebted individuals. In a volatile market, the company has seen a steady decline in its share value since it floated at the Alternative Investment Market (AIM) last year, from 207 pence per share in September 2006 to its current value of 92.5 pence, despite meeting analysts' expectations and completing a number of successful acquisitions.  

Richard Arden, Finance Director, added “'I am delighted to become part of the dynamic and energetic team at Debts.co.uk plc at this exciting time. I am looking forward to a challenging and varied role and to contributing to the continuing success of this business.”

Richard Arden has a beneficial interest in 3,746 ordinary shares in Debts.co.uk plc. The resultant aggregate Directors' shareholding is approximately 0.02 per cent of the current issued share capital of the Company.

Richard Arden is currently a director of South Yorkshire Funding Advice Bureau.  Richard has also been a director of Westfield Contributory Health Scheme Limited in the previous five years.