GENERAL: DIL: Diligent Finalizes Line of Credit

17 Mar 2010 9:36 am

DIL 17/03/2010 GENERAL

REL: 0936 HRS Diligent Board Member Services INC (NS)

GENERAL: DIL: Diligent Finalizes Line of Credit

Diligent Board Member Services has now completed a transaction, formerly announced, with Spring Street Partners LP pursuant to which Spring Street is making available a US$1,000,000 line of credit to Diligent for the next eighteen (18) months. There is a commitment fee of 0.5% per annum for any amounts not drawn down on the credit line. Any amounts drawn down will bear interest at the rate of 9.5% per annum. The line of credit is secured by Diligent's accounts receivable. While Diligent has no current intention of drawing down funds from the credit line, this credit line will provide added flexibility for Diligent's working capital and will also enable Diligent to pursue other options, such as expansion of its sales efforts. End CA:00192580 For:DIL Type:GENERAL Time:2010-03-17:09:36:37

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