Public Statement - Excel Homes Plc

This statement is made in order to warn investors and others against dealing with unauthorised financial services providers.

Excel Homes Plc (“Excel Homes”)

www.excelhomesonline.com (the “Website”)

The Jersey Financial Services Commission (the “Commission”) has issued this public statement under Article 25(2) of the Financial Services (Jersey) Law 1998, as amended, Article 48(2) of the Banking Business (Jersey) Law 1991, as amended and Article 17(2) of the Collective Investment Funds (Jersey) Law 1988.

The Commission believes that Excel Homes, through the use of the Website, are carrying on or holding out that they are carrying on financial service business in the United Kingdom when they are not authorised to do so, and it is therefore desirable to issue a public statement concerning the Website in the interests of the public.

The Commission wishes it to be known that:

1. The Commission is in possession of information and documents that show Excel Homes, through the use of the Website, purport to have a contact address in Jersey of 25 New Street, St. Helier, Jersey. Whilst the address quoted on the Website does exist, enquiries conducted by the Commission have found that Excel Homes have no actual presence at this address.
   
2. The Website quotes that Excel Homes are licensed financial advisors based in London, Great Britain and hold an SRO (Self Regulatory Organisation) license. Enquiries conducted by the Commission have found this to be false.
   
3. From the documentation held by the Commission it would appear that Excel Homes and the Website display all the warning signs of being set up for a fraudulent purpose.
   
4. Excel Homes is not connected in any way to the genuine authorised banking, investment and collective investment fund business provided in or from within Jersey by Lloyds TSB Offshore Limited and its associated entities.
   
5. Excel Homes is not connected in any way to the Legal & General Group. Excel Homes does not represent the Legal & General Group of companies for life assurance, pensions or unit trust business.

All other regulated businesses are listed on the Commission’s website at www.jerseyfsc.org.
Any person who has had dealings with Excel Homes is requested to contact the Commission.

Gary Godel
Director Enforcement
Jersey Financial Services Commission

Nelson House
David Place
St. Helier
Jersey
JE4 8TP

29 June 2006

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