RNS Number : 3726K
  AssetCo PLC
  18 December 2008
   


    18 December 2008

    AssetCo plc

    TVAC - The Vehicle Application Centre Limited ('TVAC') 

    Placed into administration

    AssetCo plc, (AIM : ASTO) the integrated support services business, announces that the Board has concluded it's strategic review of TVAC
Ltd and due to continued losses there is no longer any prospect that TVAC, a wholly owned subsidiary, can operate as a going concern.
Accordingly, it has been placed into administration today.

    This action should have no material adverse affect on the financial performance of AssetCo plc.

    The Joint Administrators are John Charles Reid and William Kenneth Dawson of Deloitte LLP, Saltire Court, 20 Castle Terrace, Edinburgh
EH1 2DB

    Enquiries: 
 AssetCo                                      Tel: +44 (0) 20 8515 3999
 Frank Flynn, Financial Director            
 James Collins, Investor Relations

 RBS Hoare Govett Limited                     Tel: +44 (0) 20 7678 8000
 Stephen Bowler
 John MacGowan
 Richard Crichton

 Pelham PR                                    Tel: +44 (0) 207743 76670
 Alex Walters    
 Francesca Tuckett 

        
       
                   


                    

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