Interim Results

EmdexTrade PLC
23 July 2002


                                 EMDEXTRADE PLC

                                 INTERIM REPORT

                                      2002


EMDEXTRADE PLC

UNAUDITED INTERIM RESULTS

FOR THE SIX MONTHS TO 30 APRIL 2002


WEBSITE

The website has taken longer to develop than was estimated and we currently
estimate going live in the fourth quarter of 2002.

MANAGEMENT

Ken Mackay has taken over as Managing Director from Stephen Corley who has
relocated to Dubai with a view to developing EmdexIslami FZ-LLC, a Dubai based
wholly owned subsidiary formed on 19 May 2002.

NEW DEVELOPMENTS

EmdexIslami FZ-LLC, which has not yet commenced trading, has been formed to
build a Shari'ah compliant web based trading platform primarily in order to
attract Islamic business and will utilise systems and technology developed by
EmdexTrade PLC.

EmdexTrade Delaware LLC, a New York based wholly owned subsidiary of EmdexTrade
PLC was formed on 13 June 2002 to act as a service company to Emerging Markets
Securities Delaware LLC, an NASD & SEC registered broker dealer company wholly
owned by Ken Mackay, also based in New York. EmdexTrade PLC looks forward with
confidence to developing regular cash flows which are anticipated as a result of
this transaction.

FUTURE PROSPECTS

The Directors believe that EmdexTrade PLC is now strategically placed to take
advantage of opportunities created by these developments to build a regular and
sustainable revenue stream. The company remains debt free with cash reserves of
£709,877 at 30 April 2002.


Ian Salter

Chairman

23 July 2002




EMDEXTRADE PLC

UNAUDITED PROFIT AND LOSS ACCOUNT

FOR THE SIX MONTHS TO 30 APRIL 2002
                                                                Six months to 30         Fifteen months to
                                                                      April 2002              October 2001
                                                                     (Unaudited)                 (Audited)
                                                                     £                         £

Turnover                                                                 119,356                   312,865
Cost of sales                                                           (59,687)                 (100,617)

Gross profit                                                            59,669                     212,248
Administrative expenses                                                (260,639)                 (302,539)

Operating loss                                                         (200,970)                  (90,291)
Interest receivable and similar income                                  18,186                      20,938

Loss on ordinary activities before taxation                            (182,784)                  (69,353)
Tax on loss on ordinary activities                                             0                     (825)

Loss on ordinary activities after taxation                             (182,784)                  (70,178)

Earnings per share
Basic earnings per share                                                (0.46)p                    (0.49)p


Turnover is derived wholly from continuing activities



Notes:

 1. The financial statements have been prepared in accordance with applicable UK
    accounting standards and under the historical cost convention. The principal
    accounting policies of the company are set out in the company's 2001 annual
    report.

 2. The financial information set out above does not constitute statutory
    accounts as defined in section 240 of the Companies Act 1985. Statutory
    accounts for the fifteen months to 31 October 2001, on which the report of
    the auditors was unqualified, have been filed with the Registrar Of
    Companies.

 3. Earnings per share have been calculated on the basis of the number of shares
    in issue of 40,000,000, which has remained unchanged during the period.
    There are no diluted earnings per share.

 4. The directors are not declaring a dividend for the period.

 5. Copies of this report are being sent to all shareholders and can be viewed 
    on the company's web-site 'http://www.emdextrade.com/'



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