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CHAIRMANS REPORT – ANNUAL GENERAL MEETING

Posted on October 2, 2009

During 2008, we continued to work closely with the OFT, making improvements to our compliance audit process, and we are continuing to monitor all areas, making any changes when necessary.

Once again our ongoing monitoring, including customer satisfaction surveys and mystery shopping, has shown a very low incidence of complaints from members‚ clients

We are delighted to welcome Baines and Ernst as members of DEMSA and Nick Pearson of Baines and Ernst and Ivan Cooper of Chiltern to the board of directors.

We can also report that we have a considerable number of prospective members in the pipeline and Richard Wharton has been busy with compliance audit visits taking place over the year.

It is noticeable that in many cases applicants have to rethink their marketing approach to ensure that they are fully compliant with the DEMSA code, and we are pleased to say that in every case they readily agree to do so. This ranges from minor to major alterations in their marketing and administrative approach to consumers. This can only continue to raise standards in the debt management industry.

MICHAEL LAND

CHAIRMAN

2 October 2009