Interim Results

Archimedia Ventures PLC
29 September 2006

                            Archimedia Ventures plc

                        ('Archimedia' or the 'Company')



Interim results



The Company announces its interim results for the six months to 30 June 2006.
There was a turnover of nil (2005 - nil) and a loss after tax of £32,384 (2005 -
£7,854). The loss for the current period includes abortive acquisition costs
incurred by the Company.

No directors received any remuneration during the period (2005 - nil).

The directors do not recommend the payment of a dividend (2005 - nil).

Trading on AIM of the Company's ordinary shares was suspended on 3 April 2006
and, pursuant to the AIM Rules, the admission to trading of the Company's
ordinary shares is to be cancelled on 3 October 2006.

The Directors of the Company are clearly very disappointed at this outcome,
having worked to complete a reverse acquisition.  Following cancellation of the
Company's admission to AIM, the Board will be writing to shareholders in the
Company in connection with an acquisition and, if completed, will apply to have
the Company's shares admitted to AIM once again.


Proposed transaction

With this objective firmly in mind, Archimedia has today signed Heads of Terms
with Stephen Lunn and Christopher Foster, the controlling shareholders in a
company whose principal asset is a coal property in Kentucky, USA. This property
comprises significant proven coal reserves, which are expected to be licenced to
coal mining operators. The agreed consideration for the acquisition is £10
million, payable in shares of Archimedia at a value of 3p per share. Archimedia
has also received expressions of support in respect of shares to be issued for
cash, at the same value, in respect of the enlarged group's anticipated working
capital requirements.

The planned acquisition is subject to due diligence, contract and the approval
of Archimedia's shareholders at an extraordinary general meeting.

We will be writing to all Archimedia shareholders shortly on the basis indicated
in this announcement.


29.09.06


For further information:

Kris Maguire, Hansard Communications
020 7245 1100 (office)
07740 704 080 (mobile)





Profit and loss account
For the period 1 January 2006 to 30 June 2006
                                                 6 months to   28 February 05 to    28 February 2005
                                                30 June 2006        30 June 20      31 December 2005
                                                 (unaudited)         (unaudite)            (audited)
                                                                              
                                                           £                   £                   £


Turnover                                                   -                   -                   -

Administrative expenses                             (34,470)             (7,900)            (33,647)

Operating loss                                      (34,470)             (7,900)            (33,647)

Interest receivable                                   2,086                   46               2,770

Loss on ordinary activities before
taxation
                                                   (32,384)              (7,854)            (30,877)

Taxation                                                  -                    -                   -

Loss on ordinary activities after
taxation                                                              
                                                   (32,384)              (7,854)            (30,877)

Loss per share - basic and diluted

                                                    (0.28)p              (0.01)p             (0.28)p







Balance sheet
At 30 June 2006


                                         At 30 June 2006         At 30 June 2005       At 31 December 2006
                                             (unaudited)             (unaudited)                 (audited)
                                                        £                      £                         £
Fixed assets
Intangible assets                                  3,967                       -                     5,798

Current assets                                                     
Debtors                                            4,125                   3,684                       350
Cash at bank and in hand                         140,643                 172,878                   162,387
                                                 144,768                 176,562                   162,737
Creditors: Amounts falling due
within one year
                                                (27,235)                   (500)                 ( 14,651)

Net current assets                               121,500                 176,062                   148,086



Called up share capital                          116,917                 116,667                   116,917
Share premium account                             67,844                  67,249                    67,844
Profit and loss account                         (63,261)                 (7,854)                  (30,877)

Equity shareholders' funds                       121,500                 176,062                   148,086

Net assets per share (pence)                       1.04p                   1.51p                     1.27p







Cash flow statement
For the period 1 January 2006 to 30 June 2006
                                                6 months to       28 February 05   28 February 2005 to
                                               30 June 2006      to 30 June 2006      31 December 2005
                                                (unaudited)          (unaudited)             (audited)
                                                                                                      
                                                          £                    £                     £


Net cash outflow from operating activities         (23,830)             (11,084)              (17,470)

                                                  

Returns on investment and servicing of
finance
Interest received                                    2,086                    46                 2,420

Capital expenditure and financial
investment
Purchase of intangible fixed assets                      -                     -                (6,479)

Financing
Issue of ordinary share capital                          -               250,000                250,000
Costs of share issue                                     -              (66,084)               (66,084)

(Decrease) / increase in cash                      (21,744)              172,878                162,387

Reconciliation to operating loss
Operating loss                                     (34,470)              (7,900)               (33,647)
Amortisation of intangible fixed assets               1,831                    -                  1,526
Increase in creditors                                12,584                  500                 14,651
Increase in debtors                                 (3,775)              (3,684)                      -
Net cash outflow                                   (23,830)             (11,084)               (17,470)





Notes to the Interim Report



1.         Loss on ordinary activities before taxation



The loss for the period comprises administrative overheads and abortive
acquisition costs incurred during the period.



2.         Called up share capital



The issued share capital comprises 11,691,660 (30 June 2005 - 11,666,660)
ordinary shares of 1p each.



3.         Preparation of Interim Report



The directors approved the interim financial information for the period to 30
June 2006 on 29, September 2006.



4.         Financial information



The financial information in this statement does not constitute statutory
accounts within the meaning of section 240 of the Companies Act 2005.



5.         Accounts



Copies of the Interim Report are available, by post, from 14 St Paul's Road,
Richmond, Surrey TW9 2HH.




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