Rent recognition platform CreditLadder has secured approval from the Financial Conduct Authority (FCA) to initiate payments from banks and offer tenants aggregated financial ‘dashboards’, the first in the proptech sector to do so.The company, which currently works with over 2,500 letting agent branches, can now ask banks to make rental payments on a tenant’s behalf and also offer them financial dashboards to show aggregated payments data from multiple accounts.This, CreditLadder claims, will enable it to significantly widen its offering and help tenants manage and improve their finances and credit scores.Started up two years ago, the company is one of only 15 tech firms in the UK to have approval for both activities – known and AIS and PIS – and the company says FCA approval is a “huge step forward”.It recently gained admission to HM Treasury’s Tech Nation programme, whose spokesman Greg Michel (left) says: “We look forward to seeing how this will open up new avenues for CreditLadder as their work and company develop.“CreditLadder receiving approval from the FCA is a huge statement about the fundamental importance of their work.”AIS and PIS have been made possible by the revised EU Payment Services Directive or PSD2, which earlier this year brought tech-based payment companies like CreditLadder into the regulatory fold.Sheraz Dar (right) CEO of CreditLadder.co.uk, says: “Winning FCA approval is a huge step forward for CreditLadder because it significantly widens the range of services we can offer tenants and underlines to them, as well as commercial partners and investors the integrity of our platform.”credit ladder FCA Financial Conduct Authority November 21, 2018Nigel LewisWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021 Hong Kong remains most expensive city to rent with London in 4th place30th April 2021 Home » News » Proptech rental recognition service first to gain FCA approval previous nextProptechProptech rental recognition service first to gain FCA approvalCreditLadder is first in the proptech world to gain approval from the FCA to both initiate rental payment from banks and offer aggregated ‘dashboards’ to tenants.Nigel Lewis21st November 20180955 Views
As property professionals struggle to get to grips with the 4th EU anti-money laundering (AML) Directive, along comes the 5th due to come into force by the 9th January 2020.The legislation that will be based on the 5th Directive concerns letting agents and in particular those operating at the higher end of the market.The recommendation, and all the evidence points to the fact that it will be the case, is that a rental property which attracts a rental figure of €10,000 Euros per calendar month or its currency equivalent will mean that the agent letting that property, must comply with the new regulations.It’s yet to be clarified but early indications suggest this threshold will relate to both residential and commercial property.Tenant referencingOf course, the irony is that the level of client due diligence (CDD) currently undertaken by letting agents – with tenant referencing and proof of income – is more extensive than that carried out by sales agents.However, where letting agents will see a change from the beginning of January is the additional CDD they’ll be obliged to carry out on their client – the landlord.This is likely to include confirmation of a landlord’s identity, proof of ownership of the property being let and clarification of their status – is the landlord in question a politically exposed person. All this in addition to new rulings on deposits.ProblematicAs things currently stand the regulations state that a transaction should not be undertaken by an agent on behalf of the client prior to forming a business relationship with them. This has proved problematic in the past.There have been many instances where a substantial deposit has been paid by a prospective tenant and then subsequently the agent has raised concerns about the origin of the funds they’ve accepted. By then it’s too late. The agent is no longer in a position to consider returning the funds, which leaves them exposed to having potentially transferred criminal property.All of this means that going forward letting agencies will have to ensure they have robust CDD procedures in place which clearly establish the authenticity of rental monies prior to their being received.But there are other things under the 5th Directive that letting agents will have to look out for too. They’ll need to have in place comprehensive AML written policies and procedures and agree to undertake a firm-wide risk assessment in accordance with Regulation 18. And all staff must receive some form of recognised AML training as per Regulation 24.Financial Crime Services has been in consultation with HMRC over the impact of the new legislation and we’ve made several recommendations clarifying the guidance as it currently stands. It’s important that it’s simple and easily understood by both sales and lettings agents.Read more about money laundering.Anti Money Laundering directive Financial Crime Services Jerry Walters AML December 19, 2019Nigel LewisWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021 Hong Kong remains most expensive city to rent with London in 4th place30th April 2021 Home » News » Upmarket letting agents face substantial changes after new AML come in, warns expert previous nextRegulation & LawUpmarket letting agents face substantial changes after new AML come in, warns expertJerry Walters, chief of Lonres-owned firm Financial Crime Services, says changes will affect how deposits and rent are received and require landlords and tenants to be checked.Jerry Walters19th December 201901,180 Views
A review has begun of the raft of nutrition targets left by the Food Standards Agency (FSA) under the previous government, which will mark a shift away from the ’carrot and stick’ consultations and aims towards a “lighter” approach to regulation.Health secretary Andrew Lansley’s Responsibility Deal will be launched in December as part of the public health white paper, after the FSA’s nutrition remit was absorbed into the Department of Health (DoH). The model is close to the Food & Drink Federation’s (FDF) Courtauld Commitment, whereby food businesses created a framework for collective responsibilities on sustainability, but this time with health NGOs providing a public interest balance.Calories are the first topic to be discussed, with a source close to the talks predicting “a move away from arbitrary portion sizes to talk about calories more generally”. The source added that the Responsibility Deal would identify a number of “quick wins” as well as longer-term public health commitments.Barbara Gallani, FDF food safety and science director, said there was a review under way as to how the industry could contribute to tackling obesity. “The direction of travel has not changed and the focus on public health remains,” she said. “Saturated fat reduction will be one of many aspects in tackling obesity and diet-related diseases, which the Responsibility Deal is looking into. That does not mean it will be in exactly the same format as the FSA’s recommendations.”However, sat fat reduction is likely to appear in the white paper only in general terms, prior to the publication of a formal Responsibility Deal next year. “It’s early days and sat fat is not an immediate subject for discussion, but a medium-term topic,” said Stephen Airey, outgoing head of sat fat reduction at the Department of Health (DoH).”It should achieve the same ends as the previous approach through targets, but the expectation is that it will be lighter on bureaucracy.”* Airey’s role at the DoH is to be filled by Corinne Vaughan, who is leading on food formulation, including salt reduction, energy and saturated fat.>>DoH reveals food team but stays quiet on salt
Premier Foods has announced it has reached an agreement to sell its Brookes Avana business to Solways Foods, part of 2 Sisters Food Group for a cash consideration of £30m.Brookes Avana consists of RF Brookes chilled foods and Avana Bakeries, with the sale marking the next step in Premier’s stategy to streamline the group’s portfolio. Premier announced in October that it would be focusing investment behind eight Power Brands, including Hovis and Mr Kipling, and would dispose of selected businesses “further enabling it to deleverage the business”. Michael Clarke, chief executive officer, Premier Foods, commented: “The sale of Brookes Avana underlines our commitment to focus the business on growing a smaller number of brands. Brookes Avana will have a better opportunity to grow with 2 Sisters Food Group given their focus in the chilled food sector. I wish them every success in the future.”Ranjit Singh, chief executive, 2 Sisters Food Group, added: “We are delighted to reach agreement on the proposed acquisition of Brookes Avana. The business has a strong track record in delivering high-quality products for its customers and would provide a growth platform for 2 Sisters and increased product diversity to serve every eating occasion.”He said it was an excellent strategic fit and, following completion, the firm would focus on delivering growth opportunities and enhancing the performance of the business.The sale includes the three Brookes Avana sites at Newport (RF Brookes and Avana Bakeries) and Leicester (RF Brookes). It is intended that all of the employees – numbering just over 2,000 – will transfer with the business following appropriate discussions with them and their representatives.In addition, Premier announced it had also entered into manufacturing agreements with 2 Sisters in relation to certain products currently produced by the Brookes Avana business.For the year ended 31 December 2010, Brookes Avana reported a turnover of £203.6m and a trading loss of (£0.1m). At the half year, ended 25 June 2011, it reported a trading loss of (£13.3m).
Getting a job means securing an income for a family and the chance to build a better future. That’s why up and down the country we are doing all we can to help people into work. And from next month, we’ll be taking thousands more people out of paying tax and also increasing the National Living Wage, benefiting those on the lowest pay and making sure they keep more of what they earn. In fact by raising the National Living Wage we have ensured that the lowest earners have seen their wages grow by almost 7% above inflation since 2015. England and Wales (local media enquiries) 029 20 586 then 097 or 098 or 099 Out-of-hours (journalists only) 07623 928 975 Contact Press Office since 2010, the number of people in employment has increased by around 3.2 million 83.4% of employment is in the private sector, with 16.6% in the public sector the female employment rate is at a record high of 70.9%, with over 15 million women in work – a rise of 234,000 on the year Scotland (local media enquiries) 0131 310 1122 Follow DWP on: Figures released by the Office for National Statistics show that 402,000 more people have moved into employment in the last year.The unemployment rate (4.3%) has not been lower since 1975, and the number of people out of work is down by 127,000 compared to a year ago.The number of people not working and not looking for work fell by 158,000 on the year. The rate has not been lower since records began. Press Office Since 2010, over 70% of employment growth has been in permanent roles, with around 70% in higher skilled work.Secretary of State for Work and Pensions Esther McVey said: Today’s figures also show: London Press Office (national media and London area enquiries only – not questions about personal claims) 020 3267 5144 Read the Labour Market Statistics – March 2018 from the Office for National Statistics. Caxton HouseTothill StreetLondonSW1H 9NA improving the welfare system with Universal Credit, which helps people move into work faster and to stay in work longer than under the old system introducing a modern Industrial strategy to help businesses create better, higher-paying jobs in every part of the UK helping people stay in work longer with our Fuller Working Lives strategy, which supports employers to recruit, retrain and retain older workers tackling inequalities in employment highlighted by the Race Disparity Audit, through targeted support in 20 areas around the country and £90 million announced by the Prime Minister to help young people The amount of money people can earn before they start paying income tax will rise in April 2018 from £11,500 to £11,850. From 1 April 2018, the National Living Wage – the minimum paid to employees aged over 25 – will rise from £7.50 an hour to £7.83, equating to a £600 annual pay rise for full-time workers on basic pay.This comes as we have reformed welfare to make work pay, backed businesses to take more people on, and built a stronger, fairer economy.But we want to help even more people benefit from a well-paid job. That’s why we are: Separate figures out today showed that 770,000 people are now on Universal Credit as the rollout of the new benefit continues. Of these, 39% were in employment (300,000). Through Universal Credit, people are keeping more of their earnings as their Universal Credit payment gradually adjusts when their income climbs. Twitter – www.twitter.com/dwppressoffice Facebook – www.facebook.com/dwp LinkedIn – www.linkedin.com/company/dwp YouTube – www.youtube.com/dwp
Supplier engagement events are an excellent opportunity to share knowledge, compare capabilities and link-up organisations across the supply chain. Artec, Rheinmetall and KMW are very much looking forward to the event on the 10th September to continue our engagement with the UK industrial base, and develop our supply network to satisfy the MOD’s Mechanised Infantry Vehicle (MIV) requirements. We recognise the level and diversity of capability, skills and know-how within the UK supply chain, and look forward to meeting many more organisations that we can work with to deliver the best solutions to the British Armed Forces. Wales plays a massive part in ensuring our armed forces have the finest military equipment to defend us, and is already assembling the Army’s new Ajax vehicles in what is the biggest order of its kind in three decades. We spent £945m with Welsh businesses last year, supporting over 6,000 jobs, as the industry continues to thrive. A possible deal for new Boxer armoured vehicles could mean at least 1,000 more British jobs, and I hope local companies seize this opportunity to understand how there could be even more defence work up for grabs for Wales in the future. An industry event will be held in south Wales next month with the aim of connecting companies and organisations across the nation with the UK’s lucrative defence supply chain.The Ministry of Defence announced earlier this year that the UK will re-join the Boxer programme and explore options to equip the Army with the 8×8 troop carriers to modernise its vehicle fleet and meet the Army’s Mechanised Infantry Vehicle requirement.The assessment phase for the Mechanised Infantry Vehicle programme, which is due to conclude in 2019, will consider the comparable benefits of manufacturing locations and different supply chains for Boxer, as well as value-for-money. Any deal will be subject to commercial negotiation and assessment. The aim is to have the first vehicles in service with the Army in 2023.In an effort to ensure that Welsh companies can compete for the manufacture and supply of many of the vehicle sub-systems, Welsh Secretary Alun Cairns is leading the clarion call for organisations to sign up to Artec’s industry event at the University of Wales’ Treforest Campus on 10 September.Secretary of State for Wales Alun Cairns said: We cannot underestimate the valuable impact the defence sector has on our security and on the Welsh economy, supporting thousands of jobs and millions of pounds of investment across the country. The Artec industry day provides a significant opportunity for Welsh businesses to capitalise on the supply chain opportunities presented by the Boxer programme and the wider defence sector. The experience they will gain from it will provide them with the additional credentials needed to help springboard them into other markets and I encourage them to take full advantage. Artec, the consortium who manufacture the Boxer vehicle, already have an established UK footprint. Their planned investment in the UK is estimated to secure or create at least 1,000 jobs across the UK, including Wales.As part of the programme, the UK is also expected to see substantial inward investment from Rheinmetall, one of Artec’s parent companies, who signalled their intention to launch a production and integration centre for armoured vehicles in the UK.This would represent a significant commitment which would lead to long-lasting armoured vehicle capability in the UK.David Pile, Sales and Business Development Director at Rheinmetall Defence UK said: The UK played a major role in the original design, development and testing of the Boxer, and would reassume the rights it had as a project partner if a deal was to go through – allowing the option for the vehicle to be built and exported from the UK. The deal could see the Boxer fully assembled in the UK with at least 60% of the manufacturing with British industry, sustaining and developing UK industrial capabilities, facilities and skills.Defence Minister for Defence Procurement Stuart Andrew said: Wales plays an important role in UK defence providing over 3,000 regulars and reserves to the Armed Forces and supporting over 6,000 industry jobs. The country benefits from Ministry of Defence (MOD) expenditure of £300 per person each year and a huge investment in local industry and commerce worth £945 million.To sign up to the event, click hereENDS
Vermont quartet Twiddle has been creating music for a little over a decade now, but it wasn’t until roughly three years ago that the buzz about the group became something palpable. All of a sudden, wherever you went, somebody was dropping their name and you began to ask yourself “Who the hell is Twiddle?” And then you catch one of their many festival appearance sets, or at some club in your hometown, the entire place is singing and hanging on to every lyric to a song like “When It Rains It Pours” in sheer bliss, and you now have found the answer to that question.Now the band is preparing for their first headlining performance at legendary venue The Capitol Theatre on May 7th, with incredible New York-based instrumental rock fusion act TAUK (get tix HERE). This is a show that will not only tout a packed house, but is a clear example of two acts that are on the path to be the next big things in the jam scene for years to come. If you have been to The Cap, then you already know why you need to be there. And if you haven’t been there, then you best get on it.Check out Twiddle perform “The Great Gatsby” from their sold-out album release party for PLUMP at Boston’s Paradise Rock Club:Moving forward from The Cap show, Twiddle will be hosting their own festival in Burlington, VT July 29th and 30th. Tumble Down is a two-day event at Waterfront Park in downtown Burlington, and will feature two nights of headlining sets from the band, as well as additional bands to be announced in coming weeks, along with late-night sets, and a myriad of recreational activities, including a Charity Disc Golf Tournament that will support Twiddle’s charity, The White Light Foundation.Twiddle’s sound fuses several genres, but relies heavily on a funky reggae sound that has seriously catchy hooks and lyrics. If you could describe Twiddle music and their live performance in two words: Positive Fun. The band has unabashedly and unapologetically laid it all out on the table for the masses, and they are getting back what they have given. With their latest album, PLUMP, the band once again delivered “plush musical arrangements drawing from many different influences and positive messages and themes.” Long story short, 2016 is the biggest year yet for Twiddle, and the future is only getting brighter.Twiddle Captures The Healing Power Of Music On ‘PLUMP’Purchase tickets for The Capitol Theatre show w/ TAUK at this LINK.Tumble Down tickets are currently on-sale, check out the WEBSITE.Tune in to Twiddle’s Facebook page at 7 PM tomorrow for a Live Q & A!
Roberto Mighty wants Fisher Museum visitors to leave his art exhibit on Sunday with a reverence for the central Massachusetts landscape and a few modern lessons based on how Puritans and Native Americans viewed the land 400 years ago. The exhibit, “First Contact,” focuses on the period roughly from first Colonial contact to the generation before King Philip’s War, from 1600 to 1650.The exhibit is the culmination of Mighty’s yearlong artist residency at the Harvard Forest in Petersham, Mass., supported by a grant from the National Science Foundation’s Long-Term Ecological Research Program. Over the course of a year, Mighty has used several types of cameras and recorders to gather high-definition video, high-resolution photographs (including tree canopy and underwater images), and surround-sound audio throughout the forest. “First Contact: Puritans, Native Americans, and the Clash over Land in 1630” combines those elements with historical text, music, and professional voice-overs to portray how religion and economics led to land use clashes between Puritans and Native Americans.A tremendous amount of research underpins his work. “ ‘First Contact’ has occupied my thoughts every day and night for close to 18 months,” says Mighty, who lived on the Alaskan frontier as a boy and now teaches visual and media arts at Emerson College and Boston University. “It was exciting to spend months reading the letters, sermons, books, and court records of the early English Colonial settlers.”To construct the voice-overs of historical text for the exhibit, Mighty recruited top British specialists in original pronunciation of Elizabethan English. “Besides providing outstanding voice-overs, they gave me cultural context that I couldn’t readily get from the history books,” he says.The Native American perspective was also not easily found in books, so Mighty consulted with a linguist and cultural specialist from the Nipmuc Nation. “I was surprised at how deeply I was touched by the history,” said Mighty. “I sometimes found myself crying as I worked my way through the historical accounts. In the very beginning, the Puritans and the Native Americans tried to coexist. But gradually, it became obvious that one group would have to go. Most people can see the sadness in this. As an Afro-Latin descendant of former slaves, I found it particularly resonant.”David Foster, director of the Harvard Forest, describes the exhibit as “a truly engaging work of scholarship and art that conveys a deep understanding of our landscape and its history while also motivating a desire to care and conserve it for the future.”Mighty hopes visitors will find modern relevance in the exhibit. “Issues of land use, ethnic cleansing, and theocracy continue to affect our world today,” he said. “The land use piece is particularly important in Massachusetts, where we need to be thoughtful about managing our wild lands while also providing for economic development. We can take many important lessons from the people who came before us.”The exhibit’s public opening event will take place on Sunday from 2 to 5 p.m. in the Fisher Museum at 324 North Main St. in Petersham, Mass. The event will include a one-time film screening, an artist presentation, and a light reception catered by the Millers River Cafe. A continuing exhibition of a seven-minute film and fine art photography will remain in the Fisher Museum through the month of October. The Fisher Museum is open Monday to Friday from 9 a.m. to 4 p.m. and on weekends from noon to 4 p.m. Learn more about the exhibit, watch the film trailer, and read a full interview with the artist.
On Broadway, O’Hare has been surrounded by nudity, but he hasn’t taken it off himself. He starred as Ernst Ludwig in the 1998 revival of Cabaret amidst a sea of skimpy-outfitted Kit Kat boys and girls. In 2003, he took home a Tony Award for Take Me Out, which famously featured several showering baseball players. “He plays a guy with a 13-inch penis and that’s all I’m going to say about that,” AHS creator Ryan Murphy revealed to Entertainment Weekly. “Denis has never been happier.” Catch O’Hare and his “gift” on Wednesday nights on FX, and look out for several other Broadway vets, including Jessica Lange, Sarah Paulson, Kathy Bates, Frances Conroy and Finn Wittrock. View Comments Thirteen just might be Denis O’Hare’s new lucky number. The Tony winner has returned to American Horror Story for Freak Show as Stanley, a con artist in cahoots with Maggie Esmerelda, played by fellow AHS alum Emma Roberts. We now have some, uh, huge, news about his character, who is set to appear on the October 22 episode. So, is O’Hare going to whip it out on cable TV anytime soon? “I’ll never tell,” teased Murphy. “I will say that we did push the broadcast standards with that. But I was happy to give America that gift.”
236 — Gross profit: 7,451 4,322 (33,078) Oct. 3, 252 Quarry $ 0.03 582 Oct. 2, 4,707 7,416 4,812,342 issued and outstanding at July 3, 2010 and December 31, 2009 $ 8,037 Income before income taxes 1,622 26,409 Manufacturing 2,397 7,435 1,349 17,293 Strategic options and lawsuit expenses Net revenue: ROCK OF AGES CORPORATION Consolidated Balance Sheets (in thousands, except per share amounts) (Unaudited) Source: BARRE, Vt.–(BUSINESS WIRE)–Rock of Ages Corporation. 10.29.2010 1,133 $ 1,534 $ 193 (4,297) 30,559 2009 Other long-term assets 5,218 $ 5,914 Effect of pension curtailment 5,510 660 Other income, net 15,077 3,933 (34,746) 26 Selling, general and administrative expenses: 827 Total stockholders’ equity 2009 Additional paid-in capital 7,416 Total assets 33,242 Rock of Ages Corporation,Rock of Ages Corporation (NASDAQ: ROAC) announced today that net income for the third quarter of 2010 was $2,200,000, or $0.30 per share, which included costs and expenses associated with the exploration of strategic options and the shareholder lawsuit totaling $358,000, or $0.05 per share. For the third quarter of 2009, net income was $1,534,000, or $0.21 per share. Revenue for this year’s third quarter increased 22% to $15,756,000 compared to $12,881,000 for the third quarter of 2009.Rock of Ages has filed documents to merge into Swenson Granite of New Hampshire. The date for a shareholders meeting to approval the merger has not been set. A preliminary proxy statement is available HERE. A story about the proposed merger to its former owner can be found HERE. Most of the voting shares are closely held by Swenson representatives, including family members.Divisional operating income increased 44% to $3,583,000 compared to $2,492,000 last year, and unallocated corporate overhead decreased to $622,000 from $660,000.Manufacturing revenue for the third quarter of 2010 increased 11% to $7,719,000 compared to $6,967,000 for the third quarter of 2009. Decreased sales in the Barre monumental division were offset by increased sales in the Rock of Ages Canada monumental division and industrial products. Operating income in the manufacturing segment increased to $1,264,000 from $1,084,000 a year ago, reflecting the higher revenue. “The mausoleum sales have not bounced back as quickly as we had hoped but the industrial products and our Canadian monumental sales have more than filled the gap. We remain confident regarding the performance of our manufacturing operations for 2010 as a whole,” said Chief Executive Officer Donald Labonte.Quarry revenue for the third quarter of 2010 increased 36% to $8,037,000 compared to $5,914,000 for the third quarter of 2009, and operating income increased 65% to $2,319,000 compared to $1,408,000 last year, reflecting the higher revenue, lower operating expenses and higher productivity due to the development and production improvements undertaken in the past years. “As we expected, our quarry development programs have increased our ability to produce and deliver higher quantities of saleable granite. The demand for our granite remains strong and we continue to be optimistic about our quarry performance for the remainder of the year,” Labonte said.Nine Months ResultsFor the nine months ended October 2, 2010, revenue increased 14% to $37,930,000 from $33,242,000 for the first nine months of 2009. Gross profit increased 28%, SG&A was up $265,000, or 6%, and divisional income increased 58% compared to the first nine months of 2009.Net income for the first nine months of 2010 was $1,668,000, or $0.22 per share, which included costs and expenses associated with the exploration of strategic options and the shareholder lawsuit totaling $852,000, or $0.11 per share. For the first nine months of 2009, net income was $193,000, or $0.03 per share.About Rock of AgesRock of Ages (www.RockofAges.com(link is external)) is the largest integrated granite quarrier and manufacturer of finished granite memorials and granite blocks for memorial use in North America.Forward-Looking StatementsThis press release contains statements that are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on current expectations, estimates and projections about our business or expected events based, in part, on assumptions made by management. These statements are not guarantees of future performance or future events and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual events, results or outcomes may differ materially from what is expressed or forecasted in such forward-looking statements due to numerous factors, including the challenge of successfully implementing our strategic plan intended to enhance our overall profitability; unanticipated overhead or other expenses, including expenses in connection with the recently announced merger agreement between the Company and Swenson Granite Company LLC and related matters; and other risks discussed from time to time in the Company’s Securities and Exchange Commission filings and reports including, but not limited to, the risks discussed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2009. Such forward-looking statements speak only as of the date on which they are made, and the Company does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this release. Information About the Proposed Transaction With Swenson Granite Company LLCIn connection with the proposed merger with Swenson Granite Company LLC, Rock of Ages will file a proxy statement with the Securities and Exchange Commission. INVESTORS AND SECURITY HOLDERS ARE STRONGLY ADVISED TO READ THE PROXY STATEMENT WHEN IT BECOMES AVAILABLE BECAUSE IT WILL CONTAIN IMPORTANT INFORMATION. Investors and security holders may obtain a free copy of the proxy statement (when available) and other documents filed by Rock of Ages from the Securities and Exchange Commission’s Web site at http://www.sec.gov(link is external). The proxy statement (when available) and such other documents may also be obtained for free from Rock of Ages’ website athttp://www.rockofages.com(link is external) or by directing such request to Rock of Ages Corporation, Chief Financial Officer, 560 Graniteville Road, Graniteville, Vermont 05654, telephone: (802) 476-3115.PROXYRock of Ages and its directors, executive officers and certain other members of its management and employees may be deemed to be participants in the solicitation of proxies from its shareholders in connection with the proposed merger. Information regarding the interests of Rock of Ages’ participants in the solicitation will be included in the proxy statement relating to the proposed merger when it becomes available. Additional information regarding Rock of Ages’ directors and executive officers is also included in Rock of Ages’ proxy statement for its 2010 Annual Meeting of Stockholders, which was filed with the SEC on July 19, 2010. This document is available free of charge from the SEC’s Web site at www.sec.gov(link is external), from Rock of Ages’ website at http://www.rockofages.com(link is external) or by directing such request to Rock of Ages Corporation, Chief Financial Officer, 560 Graniteville Road, Graniteville, Vermont 05654, telephone: (802) 476-3115.(tables attached) #4737 702 — 458 $ 15,949 4,862 4,597 7,719 — 2,319 10,217 3,013 Oct. 2, Identified intangible assets, net 1,264 938 Deferred salary 13,361 2010 1,233 Oct. 3, 65,791 $ 1,668 53 2,393 1,084 3,583 7,766 2,923 852 1,264 Accumulated deficit — 1,574 — 1,800 Income tax expense Accrued post retirement benefits 19,633 774 — (4,575) 5,355 Accrued expenses Unallocated corporate overhead Total current assets Three Months Ended (83 ) 48 2,648 $ 60,563 Total liabilities and stockholders’ equity Cash and cash equivalents Interest expense, net 253 1,851 Long-term debt, excluding current installments Liabilities and Stockholders’ Equity 691 65,751 3,392 1,973 Accrued pension cost Total net revenue 195 Income before interest and income taxes Total current liabilities 334 Total gross profit 37,930 $ 0.21 1,408 — Net income per share – basic — Divisional operating income: 1,694 7,416 Net income per share – diluted Total liabilities 801 1,911 Total divisional operating income 2010 Trade receivables, net 2,022 305 Property, plant and equipment, net 1,504 1,441 $ 2,200 235 604 12,881 $ 0.21 Dec. 31, Assets 621 $ 0.30 503 1,123 $ 0.03 515 2,800 10,954 $ 1,713 1,737 $ 1,163 Assets held for sale Other current assets 2,492 $ 0.30 Accumulated other comprehensive loss 1,592 Manufacturing 40 28,932 4,556 14,845 59 Oct. 2, $ 214 387 1,633 Net income 1,314 758 Foreign exchange gain (76 ) 26,504 6,967 Current liabilities: Current installments of long-term debt Borrowings under line of credit 7,416 Stockholders’ equity: 95 Weighted average common shares outstanding -diluted $ 58,452 2,603,721 issued and outstanding at July 3, 2010 and December 31, 2009 7,416 30,551 387 Weighted average common shares outstanding – basic 48 28,490 1,285 Goodwill 7,416 3,168 4,810 Current assets: 2,342 Deferred tax liabilities 7,241 Quarry 2,613 1,620 Nine Months Ended Total SG&A expenses 11,660 2,964 Salary continuation Manufacturing 5,386 Manufacturing 1,504 — $ 60,563 622 Current installments of retirement benefits 5,320 $ 0.22 $ 18,297 $ 58,452 32,073 31,948 5,265 Quarry 1,908 — Common stock Class A, $0.01 par value, Authorized 30,000,000 shares; Customer deposits Trade payables 2010 Common stock Class B, $0.01 par value. Authorized 15,000,000 shares; 871 26 7,989 1,977 2009 Inventories 15,756 $ 0.22 (45 ) — (191 ) ROCK OF AGES CORPORATION Consolidated Statements of Operations (In thousands, except per share amounts) (Unaudited) 1,603 2,395 358 Preferred stock $0.01 par value. Authorized 2,500,000 shares; none issued 3,433 (219 ) Quarry