Final Results

Enition PLC
1 April 2005


                                  ENITION PLC

             FINAL RESULTS FOR THE PERIOD ENDED 31 DECEMBER 2004

CHAIRMAN'S STATEMENT

Introduction

In December 2004 the Company announced that its trading subsidiary CDE Solutions
Limited ('CDE') was to be put into liquidation by its directors on 9 December
2004. Since that date the Company has been a listed non-trading entity whose
main asset is cash at bank. The report and accounts presented here covers the
period 6 July 2003 to 31 December 2004.

Business Review

The loss before and after tax for the period amounted to £5,721,000. Trading
conditions for the sale of RESolution software were tough throughout the period.
With the combination of there being no realistic chance of raising additional
capital and the continuance of expenditure outstripping sales revenue, the
directors of CDE were left with no choice but to put the company into
liquidation.

Board and Management

Shortly after CDE was put into liquidation by its directors, Ray Dutton resigned
from his position of Chief Executive of Enition plc. Ray was replaced by Adrian
Finn, who already held a position on the Board as a non-executive director.
Since the balance sheet date, Michael Scott has also resigned from his position
as a non-executive director. The Company now comprises one executive director
and two non-executive directors.

Outlook

Since effectively becoming a cash shell on 9 December 2004, your Board has been
exploring options on how best to protect the Company's existing cash reserves
and AIM listing, whilst reviewing the potential opportunities for another
trading business to reverse into it.

At the present time there is no news to announce concerning potential
opportunities with other trading businesses. The Company will utilise its
existing cash resources and borrowing facilities to satisfy its short term
working capital requirements. The Board estimates that the Company's annual
running costs are currently no more than £100,000 as a non-trading entity. In
addition, the Company intends to capitalise the £330,000 loan notes taken out in
August 2004, by the issue of new ordinary shares. Resolutions empowering the
Board to issue further shares will be contained in the Annual General Meeting
notice.

Your Board intends to keep shareholders fully informed of any developments in
the future.

A J Leon
Chairman
31 March 2005

CONSOLIDATED PROFIT AND LOSS ACCOUNT
FOR THE PERIOD ENDED 31 DECEMBER 2004

                                                                          £000

Turnover                                                                     -

Cost of sales                                                                -

Gross profit                                                                 -

Administrative expenses:

- Goodwill impairment                                                   (2,814)

- Loans to subsidiary written off                                       (2,727)

- Other                                                                   (187)

Operating loss                                                          (5,728)

Interest receivable                                                          7

Loss on ordinary activities before and after tax and loss for the
financial period                                                        (5,721)

Loss per share - basic and diluted                                         4.1p


The results shown above arise from continuing operations and there were no
recognised gains or losses for the period other than those stated above.




CONSOLIDATED BALANCE SHEET
AS AT 31 DECEMBER 2004

                                                              £000        £000
Fixed assets
Intangible assets                                                           17

Current assets
Debtors                                                          1
Cash at bank                                                    34

                                                                35

Creditors: amounts falling due within one year                (378)

Net current liabilities                                                   (343)

Net liabilities                                                           (326)

Capital and reserves
Called up share capital                                                    508
Share premium account                                                      612
Other reserves                                                           1,461
Profit and loss account                                                 (2,907)

Shareholders' deficit                                                     (326)






CONSOLIDATED CASH FLOW STATEMENT
FOR THE PERIOD ENDED 31 DECEMBER 2004


                                                                £000      £000
Reconciliation of operating loss to net
cash outflow from operating activities
Operating loss                                                (5,728)
Loans to subsidiary written off                                2,727
Goodwill impairment                                            2,814
Expenses satisfied by the issue of shares                         92
Increase in debtors                                               (1)
Increase in creditors                                             48

Net cash outflow from operating activities                                 (48)

Returns on investment and servicing of finance
Interest received                                                            7

Capital expenditure and financial investment
Purchase of intangible fixed assets                                        (17)

Cash outflow before financing                                              (58)

Financing
Issue of ordinary share capital                                1,046
Expenses of share issues                                        (243)
Loans received                                                   330
Loans advanced                                                (1,041)
                                                                            92

Increase in cash for the period                                             34



NOTES

1. Status of Financial Information

The financial information set out in this report does not constitute the
Company's statutory accounts for the year ended 31 December 2004, but is derived
from those accounts.  Statutory accounts for the year ended 31 December 2004
will be delivered to the Registrar of Companies shortly.  The auditors have
reported on the statutory accounts for the year ended 31 December 2004 and their
opinion was unqualified for these financial statements.

2. Loss per Share

The calculation of loss per share is based on the loss for the financial period
of £5,721,000 and a weighted average number of ordinary shares in issue during
the period of 140,155,709.

Exercise of the Company's share options would not result in any dilution in the
loss per share.

3. Reserves
                              Share                                     Profit
                            premium            Merger                 and loss
                             account          reserve                  account
                                £000             £000                     £000
Group
Arising on share issues          935            4,275                        -
Share issue expenses            (323)               -                        -
Released on impairment of
goodwill                           -           (2,814)                   2,814
Loss for the period                -                -                   (5,721)

At 31 December 2004              612            1,461                   (2,907)

The group has taken advantage of s131 of the Companies Act 1985 and has credited
the premium arising on the acquisition of Law 2407 Limited and its subsidiary
CDE Solutions Limited to a merger reserve.

4. Copies of the Report and Accounts

The report and accounts for the period ended 31 December 2004 will be posted to
shareholders in due course and further copies will be available from the
Company's registered office, Number 14, The Embankment, Vale Road, Heaton
Mersey, Stockport SK4 3GN.




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