MCOZ Cosentino Regs

RNS Number:1210C
Cosentino Signature Wines plc
15 August 2007

15 August 2007



                         Cosentino Signature Wines PLC
                            ("Cosentino" or "Group")

                          Sale and Leaseback Programme


Cosentino Signature Wines PLC ("Cosentino" or "Group") is delighted to announce
it has concluded a sale and leaseback programme in respect of certain of its
principal winery estates and operating assets,. This will reduce Group
borrowings by some US$ 20 million and will result in annual combined net
interest and rental cost savings of US$ 310,000 (equivalent to a saving of
approximately 15 per cent.)  The Group will also see annual depreciation reduce
by approximately $765,000.  The sale and leaseback transaction has been
structured in such a way that the Group retains a repurchase option over the
leased property and assets.


Along with the sale and leaseback transaction, the Group has also established a
new $12 million credit line facility (with interest payable at the prime rate -a
reduction in rate of 2% over the Group's former borrowing rate).


After drawing down $7 million of the new credit facility, the Group will have
senior debt outstanding of $10 million, net cash of approximately US$ 4.5
million and $5 million of availability remaining on its new credit facility.


Larry Soldinger, Executive Chairman and CEO of Cosentino, commented:


"This is obviously great news for the Group and for all our shareholders. With
our borrowings substantially reduced and our current strong cash position and
borrowing availability, Cosentino is in an excellent position to allow us to
continue to pursue our exciting plans and growth strategies with renewed vigour
and much confidence. We are looking forward to an exciting and rewarding time
for all of us involved in the Cosentino business."


                                   -  Ends  -



Enquiries:

Larry Soldinger
Cosentino Signature Wines
001 847 726 8100

Jonathan Wright
Seymour Pierce
020 7107 8000

Jonathon Brill/Billy Clegg/Edward Westropp
Financial Dynamics
020 7831 3113




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