Interim Results

Enition PLC
15 September 2004


                                  ENITION PLC

                              INTERIM REPORT 2004

CHAIRMAN'S AND CHIEF EXECUTIVE OFFICER'S STATEMENT

Introduction

We are pleased to present your Company's first report to shareholders since its
admission to AIM on 19 January 2004 following the acquisition of CDE Solutions
Limited ('CDE') and its parent company, Law 2407 Limited. The results cover the
period from incorporation on 6 July 2003 to 30 June 2004, although the results
of the acquired companies are only included from the date of their acquisition.

CDE's Real Enterprise Solution ('RESolution') technology provides an
enterprise-wide platform for data consolidation and reporting that helps clients
manage every aspect of compliance from information integration and process
deployment to reporting and policy enforcement. RESolution's innovative metadata
map, together with an intuitive drag and drop interface, lets business analysts
quickly and easily connect data stored in silos (e.g. central databases, local
spreadsheets and department application files) and create common processes and
business rules that can be federated across the enterprise. RESolution has
recently been enhanced to support the XBRL standard, which has helped to
differentiate the product from competitors and has generated significant
interest from the finance sector. The difficulty remains the initial significant
entry into the market.

Results

The loss on ordinary activities for the period 6 July 2003 to 30 June 2004
amounted to £1,111,000 which is stated after a goodwill amortisation charge of
£262,000. The loss per share is 1.0p and no dividend is recommended.

Outlook

During the period since flotation, CDE has focused its efforts on attempting to
raise product awareness and generating sales leads with potential customers. One
of these leads, Shimadzu, has already closed. The prospect for sales of
RESolution software, however, remains uncertain.

Cash flow continues to be of critical importance and the Board is continually
monitoring the working capital requirements of the Group in the run up to
obtaining some significant sales orders. The Board has already undertaken a
cost cutting exercise and we are currently directing all marketing efforts into
those sectors which are perceived as being most likely to generate sales income
for the Group using the proceeds of the £350,000 fund raising announced on 9
August 2004.


A J Leon                     R S Dutton
Chairman                     Chief Executive Officer

15 September 2004


CONSOLIDATED PROFIT AND LOSS ACCOUNT
FOR THE PERIOD 6 JULY 2003 TO 30 JUNE 2004

                                       Continuing
                                       operations      Acquisitions      Total
                                             £000              £000       £000

Turnover                                        -                27         27
Cost of sales                                   -              (181)      (181)
                                            ______            ______     ______
Gross loss                                      -              (154)      (154)

Administrative expenses:
- Amortisation of goodwill                   (262)                -       (262)
- Other administrative expenses              (148)             (527)      (675)
                                            ______            ______     ______
Operating loss                               (410)             (681)    (1,091)

Interest receivable                                                          6
Interest payable                                                           (26)
                                                                         ______
Loss on ordinary activities before and
after tax and loss for the financial
period                                                                  (1,111)
                                                                         ______

Loss per share - basic and diluted                                        (1.0)p
                                                                         ======

Notes:

1. Basic loss per share has been calculated using a loss for the financial 
   period of £1,111,000 and a weighted average number of ordinary shares in 
   issue during the period 6 July 2003 to 30 June 2004 of 108,145,756. Exercise
   of the Company's share options would not result in any dilution in the loss 
   per share.

2. Goodwill arising on the acquisition of CDE Solutions Limited and Law 2407 
   Limited amounting to £5,759,000 has been capitalised and amortised through 
   the profit and loss account on a straight line basis over a period of 10 
   years.

3. The group has no liability to current taxation due to the existence of tax 
   losses. The group has no potential liability to deferred taxation.


CONSOLIDATED BALANCE SHEET
AS AT 30 JUNE 2004

                                                              £000        £000
Fixed assets
Intangible assets                                                        5,497
Tangible assets                                                             18
                                                                         ______
                                                                         5,515
Current assets
Debtors                                                        237
Cash at bank                                                     6
                                                             ______
                                                               243

Creditors: amounts falling due within one year                (475)
                                                             ______
Net current liabilities                                                   (232)
                                                                         ______
Total assets less current liabilities                                    5,283

Creditors: amounts falling due in more than one year                    (1,000)
                                                                         ______

Net assets                                                               4,283
                                                                         ======
Capital and reserves
Called up share capital                                                    508
Share premium account                                                    4,886
Profit and loss account                                                 (1,111)
                                                                         ______

Shareholders' funds                                                      4,283
                                                                         ======  


CONSOLIDATED CASH FLOW STATEMENT
FOR THE PERIOD 6 JULY 2003 TO 30 JUNE 2004

Reconciliation of operating loss to net cash outflow from
operating activities                                                £000   £000

Operating loss                                                   (1,091)
Amortisation of intangible fixed assets                             262
Depreciation of tangible fixed assets                                16
Issue of shares to pay administrative expenses                       92
Increase in debtors                                                 (22)
Decrease in creditors                                               (95)
                                                                  ______
Net cash outflow from operating activities                                (838)

Returns on investment and servicing of finance                        6
Interest received                                                   (26)
                                                                  ______
Interest paid                                                              (20)

Capital expenditure and financial investment
Purchase of tangible fixed assets                                           (1)

Acquisitions
Overdraft acquired with subsidiary undertaking                              (4)
                                                                         ______
Cash outflow before financing                                             (863)

Financing
Issue of ordinary share capital                                   1,046
Share issue expenses                                               (244)
                                                                  ______
                                                                           802
                                                                         ______
Decrease in cash                                                           (61)
                                                                         ======

Notes to Interim Report

1. The interim financial statements have not been audited and they do not 
   constitute full financial statements within the meaning of s240 of the 
   Companies Act 1985.

2. The interim financial statements have been prepared in accordance with
   applicable accounting standards.

3. Copies of this interim report are being posted to all of the Company's
   shareholders. Further copies can be obtained by writing to The Company
   Secretary, Enition plc, Third Floor, 345 Stockport Road, Manchester, M13 0LF.



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