Interim Results

EmdexTrade PLC
29 July 2003




                                 EMDEXTRADE PLC

                                INTERIM REPORT

                                   2003



EMDEXTRADE PLC
UNAUDITED INTERIM RESULTS
FOR THE SIX MONTHS TO 30 APRIL 2003

SHAREHOLDER UPDATE

OVERVIEW

There have been a number of developments in your Company since the release of
the audited financial statements for the year ended 31 October 2002.  The
combination of these developments has your Company well placed for expansion and
profitability.

SUMMARY OF THE UNAUDITED FINANCIAL RESULTS FOR THE SIX MONTHS ENDED 30 APRIL
2003

The Company's gross profit for the period ended 30 April 2003 increased
threefold compared with the same period in 2002.  However, due mainly to high
staff and web development costs, there was a net loss of £494,015 (2002
£182,784).

Looking forward, increased sales and reduced overheads have now positioned the
Company to benefit from expected continued growth and profitability.

BOARD OF DIRECTORS AND MANAGEMENT

Richard Fossett has joined the Board of Directors of the Company as Chief
Operating Officer.  Richard brings a wealth of experience in organisation and
administration as we move into a new phase of expansion.

Eren Nil, based in Istanbul, who is the Company's principal shareholder, has
assumed the role of Chief Executive Officer.

Ken Mackay stepped down as Managing Director of the Company at the end of June
2003 to continue running the New York based wholly owned subsidiary, EmdexTrade
Delaware LLC, and focus on the launch of two Emerging Market Trade Funds in the
U.S. market.

REVIEW OF BUSINESS

EmdexTrade is an international operation with offices and representation in
London, New York, Bahrain, and Istanbul.

Richard Fossett, the Head of Operations, is based in Bahrain and will run the
Company from there.

The increase in revenues during the period and subsequently, has been due not
only to an average of between 1-2 spot trades per month, but also, in July 2003,
to the broking of a substantial five year trade finance transaction which should
continue to yield an attractive return in each of the next five years.  This
also forms part of a potentially larger series of transactions in the future,
demonstrating your management's commitment to sustaining and building quality
revenues.

FINANCING AND LOAN ARRANGEMENTS

Pursuant to an agreement between CCH Europe GmbH ('CCH'), a company controlled
by Eren Nil, the outstanding loan of £300,000 from CCH will shortly be satisfied
by the issue of 4,444,444 ordinary shares to CCH. By virtue of this transaction
the Company will become debt free with cash reserves of £38,569 as at 30 April
2003. Eren Nil will consequently increase his shareholding from 82.4% currently
to 84% of the issued share capital as enlarged by this transaction.

Ian Salter
Chairman

29 July 2003



EMDEXTRADE PLC
CONSOLIDATED PROFIT AND LOSS ACCOUNT
FOR THE SIX MONTHS TO 30 APRIL 2003

                                                                       Twelve months
                                Half year to        Half year to       to 31 October
                               30 April 2003       30 April 2002                2002
                                 (Unaudited)         (Unaudited)           (Audited)
                                 -----------         -----------         -----------
                                           £                   £                   £

Turnover                           1,047,947             119,356             780,449

Cost of sales                       (856,099)            (59,687)           (663,373)
                                 -----------         -----------         -----------

Gross profit                         191,848              59,669             117,076

Administrative                      (685,674)           (260,639)           (795,351)
expenses                         -----------         -----------         -----------

Operating loss                      (493,826)           (200,970)           (678,275)

Interest receivable and                  110              18,186              24,589
similar income                   -----------         -----------         -----------

Loss on ordinary activities         (493,716)           (182,784)           (653,686)
before taxation

Tax on loss on ordinary                 (299)                  0                 825
activities
                                 -----------         -----------         -----------
Loss on ordinary                    (494,015)           (182,784)           (652,861)
activities after                 
taxation
                                 ===========         ===========         ===========
Earnings per share
Basic earnings per                     (1.23)p             (0.46)p             (1.63)p
share                            ===========         ===========         ===========




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 2002 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 twelve months to 31 October 2002, on which the report of 
     the auditors was qualified due to limitation of audit scope , have been 
     filed with the Registrar Of Companies.

 3.  Basic 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.

 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 'www.emdextrade.com'


Business Address                           Registered Office

EmdexTrade PLC                             1 The Green
15 The Green                               Richmond
Richmond                                   Surrey
Surrey                                     TW9 1PL
TW9 1PX                                    United Kingdom
United Kingdom

Telephone                      [phone]
Facsimile                      [phone]

Business Address

EmdexTrade Delaware LLC
420 Lexington Avenue
Suite 2740
New York  10170
United States of America

Telephone                    [phone]
Facsimile                    [phone]


                      This information is provided by RNS
            The company news service from the London Stock Exchange