Final Results

asSeenonScreen Holdings PLC
19 June 2003



                         AS SEEN ON SCREEN HOLDINGS PLC

                                 ('the Group')

                              Preliminary Results

                      for the year ended 31 December 2002



CHIEF EXECUTIVE'S STATEMENT

imie I am pleased to report on the Group's second full year trading figures
covering the 12 months ending 31 December 2002.

Headlines

   •Revenues - up 141% to £4.1m

   •EBITDA loss - down from 802k in 2001 to £48k in 2002

   •MBO talks stopped

   •Sale of trading subsidiary Entertainment Marketing underway

   •AsSeenonScreen Holdings plc to be re-named ASOS plc

   •Accounting year end to be changed from 31 December to 31 March

   •Trading up-date - January to May 2003 Group revenues up 135%

   •Strong growth expected throughout 2003

asSeenonScreen Holdings plc

Group revenues rose sharply to £4.1m, up from £1.7m in 2001 and Group losses
were reduced (on an EBITDA basis) from £802k in 2001 to £48k in 2002. This is a
very positive performance and highlights the Board's ability to combine strong
revenue growth with rigorous cost management.

The Group operating loss for the period of £1.7m (up from £1.1m in 2001)
includes a £1.4m goodwill write off from the Group's acquisition of the cash
shell 'Brindle Ltd' in 2001.

The Group can report that exploratory conversations were held with key
management in April 2003 regarding a possible management buyout. I can confirm
that these discussions have terminated. The Board believes that there are
opportunities within the Internet Retail sector for consolidation and, given
that the Group's ordinary shares are admitted to trading on AIM, the Group
intends to explore an acquisition strategy to accelerate the Group's growth.

At the time of writing, the Board are exploring the sale of Entertainment
Marketing, the Group's product placement business. Entertainment Marketing's
growth has been limited due to reduced management time and the ongoing
advertising recession. The Board has decided that the proceeds from a sale of
Entertainment Marketing would enhance the cash position and assist with the
stock requirements of the much faster growing asSeenonScreen.com Ltd ('ASOS').

The Board has proposed that the Group's name 'asSeenonScreen Holdings plc' be
changed to ASOS plc to mirror the re-branding of the Group's main trading
subsidiary ASOS.

In addition, following consultation with our auditors, it has been proposed that
the Group's accounting period be changed to year end 31 March as opposed to year
end 31 December. This is to enable more accurate forecasting and to assist in
the preparation of the Group's accounts in view of stock take requirements at
the year end.

I remain very confident about the Group's growth and profit potential. The
logistical and technical infrastructure is now in place to accommodate growth
and significant efficiencies have been achieved within the cost base to drive
profitability levels.

asSeenonScreen.com Ltd - ASOS

ASOS is the major contributor to the Group's performance and saw sales rise 214%
in the year to December 2002. This has continued into 2003 with revenues up 182%
(January - May).

A leading Internet fashion brand in the UK, ASOS has built a strong reputation
for range, price and quality of service - constantly out-performing better known
high-street rivals in Internet traffic terms.

According to the independent Internet survey 'Hitwise' - ASOS is a top 5 UK
Internet Clothing and Apparel store, achieving consistently higher traffic than
its nearest off-line competitor Top Shop.

The challenge facing the board is to sustain the historical growth levels and to
drive profit via increased operational efficiencies.

Since my last report, the technology platform has been overhauled enabling us to
handle ever-increasing levels of traffic and orders. The move to a bigger
warehouse in February 2003 has significantly increased the efficiencies of the
logistical operation enabling us to handle higher volumes of orders whilst
improving our high standards of customer care. The product range has been
expanded beyond fashion to incorporate more 'lifestyle' products suited to our
core 16-24 year old audience. We have also invested heavily in Magazine
advertising to promote individual products and to build awareness of the ASOS
brand.

Over the course of the year, the board has considered a number of sales channel
extensions such as Catalogues, TV infomercials and ultimately ASOS stores. It is
the Board's opinion that, for the foreseeable future, the most efficient sales
channel remains the Internet.

Entertainment Marketing UK Ltd (EM)

Against tough market conditions, and on slightly reduced revenues, EM managed to
increase its PBT to £150k in 2002 from £118k in 2001. This was a strong
performance in what has proved to a very tough climate for the whole advertising
sector.

Notable client wins in 2002 included News International and Gallo Wines and,
this year, British Gas and Samsung.

With Entertainment Marketing representing a decreasing percentage of Group
turnover (14% in 2002 and forecast 8% in 2003) the Board has decided to put
Entertainment Marketing up for sale and has approached two large advertising
groups.


                         AS SEEN ON SCREEN HOLDINGS PLC

                      Consolidated Profit And Loss Account

                          Year Ended 31 DECEMBER 2002



                        Notes                       2002          2001

                                         £             £             £



TURNOVER                    2                  4,104,123     1,702,388

Cost of sales                                 (1,941,355)     (704,915)



GROSS PROFIT                                   2,162,768       997,473



Distribution costs                                61,085        37,279
                                    --------                    --------

Administration                   2,435,157                   2,075,494
expenses - other

Administration           3a      1,371,615                           -
expenses - goodwill                 --------                    --------
write off



Total administration                           3,806,772     2,075,494
expenses



OPERATING LOSS                                (1,705,089)   (1,115,300)



Interest receivable                                4,197         3,412

Interest payable            4                       (140)       (2,377)



LOSS ON ORDINARY
ACTIVITIES

BEFORE TAXATION             3                 (1,701,032)   (1,114,265)



Tax on loss on              6                          -             -
ordinary activities



LOSS ON ORDINARY
ACTIVITIES AFTER

TAXATION                                      (1,701,032)   (1,114,265)



EARNINGS PER SHARE



Basic and fully            19                       (2.8p)        (2.6p)
diluted



The profit and loss account includes all recognised gains and losses in the
current and preceding year. All activities were derived from continuing
operations.


                         AS SEEN ON SCREEN HOLDINGS PLC

                           Consolidated Balance Sheet

                              AT 31 DECEMBER 2002



                                                    2002          2001

                                         £             £             £



FIXED ASSETS

Intangible assets                              1,762,234     3,362,182

Tangible assets                                   70,576        99,427



                                               1,832,810     3,461,609



CURRENT ASSETS

Stocks                             622,214                     165,842

Debtors falling due within one     713,055                     245,630
year

Cash at bank and in hand                67                     116,198



                                 1,335,336                     527,670

CREDITORS: amounts falling due
within

one year                        (1,330,758)                   (450,859)



NET CURRENT ASSETS                                 4,578        76,811



TOTAL ASSETS LESS CURRENT

LIABILITIES                                    1,837,388     3,538,420



CAPITAL AND RESERVES

Called up share capital                        2,157,042     2,157,042

Share premium account                          2,982,025     2,982,025

Profit and loss account                       (3,301,679)   (1,600,647)



SHAREHOLDERS' FUNDS (ALL                       1,837,388     3,538,420
EQUITY)







                         AS SEEN ON SCREEN HOLDINGS PLC

                        Consolidated Cash Flow Statement

                      FOR THE Year Ended 31 DECEMBER 2002



                                                    2002          2001

                                           £           £             £



Net cash outflow from operating                 (215,029)     (811,028)
activities



Returns on investments and
servicing of finance

Interest received                      4,197                     3,412

Interest paid                           (140)                   (2,377)



Net cash flow from returns on
investments and

servicing of finance                               4,057         1,035



Investing activities

Payments to acquire tangible fixed   (27,744)                  (26,430)
assets

Cash acquired on the acquisition of        -                   359,698
subsidiary



Net cash (outflow)/inflow from
investing

Activities                                       (27,744)      333,268



NET CASH OUTFLOW BEFORE FINANCING               (238,716)     (476,725)



Financing

Issue of loan stock                        -                   456,300

Net inflow from issue of ordinary          -                    71,284
shares

Repayment of short term loan         (49,000)                        -



Net cash (outflow)/inflow from                   (49,000)      527,584
financing



(DECREASE)/INCREASE IN CASH AND
CASH

EQUIVALENTS                                     (287,716)       50,859



RECONCILIATION OF NET CASH FLOW
TO

MOVEMENT IN NET DEBT



(Decrease)/increase in cash for the             (287,716)       50,859
year

Cash inflow/(outflow) from increase               49,000      (456,300)
in debt



Change in net debt resulting from               (238,716)     (405,441)
cashflows



Ordinary share capital issued as                       -     2,301,300
settlement for debt



Movement in net debt in year                    (238,716)    1,895,859



Net funds/(debt) at 1 January                     64,794    (1,831,065)
2002



Net (debt)/funds at 31 December                 (173,922)       64,794
2002


a) Reconciliation of operating profit to net cash inflow from operating
activities

                                                 2002             2001

                                                    £                £



Operating loss                             (1,705,089)      (1,115,300)

Amortisation charge                         1,599,948                -

Depreciation charge                            56,595          312,882

Loss on disposal of fixed assets                    -               75

Increase in stock                            (456,372)         (78,318)

(Increase)/decrease in debtors               (467,425)          40,377

Increase in creditors                         757,314           29,256



                                             (215,029)        (811,028)



b) Analysis of net debt

                               At 1                       At 31

                               January    Cash            December

                                  2002    flow                    2002

                                     £               £               £



Cash at bank in hand           116,198        (116,131)             67

Bank overdraft                  (1,404)       (171,585)       (172,989)



                               114,794        (287,716)       (172,922)

Due in less than one year      (50,000)         49,000          (1,000)



Due in more than one year       64,794        (238,716)       (173,922)



Notes:

 1. Statutory accounts

    The financial information presented does not constitute statutory accounts
    as defined in Section 240 of the Companies Act 1985. The results have been
    extracted from the accounts of the Group for the year ended 31 December
    2002. The accounts, on which the auditors have issued an unqualified report,
    will be sent to shareholders and delivered to the Registrar of Companies in
    due course.

 2. Exceptional goodwill write off of £1,371,615 is charged in respect of the
    impairment in the carrying value of the goodwill on acquisition of Brindle
    Limited.

 3. Earnings per ordinary share

    Basic and fully diluted loss per ordinary share has been calculated on the
    Group's loss attributable to shareholders of £1,701,032 (2001: £1,137,712)
    and on the weighted average number of ordinary shares in issue during the
    financial year, which was 61,629,759 (2001: 42,964,551). Whilst unexercised
    share options and warrants would increase the weighted average number of
    ordinary shares in issue during the year, due to the losses they are not
    considered dilutive. No shares have been issued between the year end and
    date of approval of these financial statements.

 4. Dividends

The Directors are not proposing that a dividend payment be made.




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