Interim Results

eVestment Company PLC
26 October 2000

                               INTERIM RESULTS

                          THE EVESTMENT COMPANY PLC

                    FOR THE SIX MONTHS ENDED 30 JUNE 2000



Chairman's Statement

In the first half of this year your Company consolidated the strategy outlined
in 1999 and moved forward in other areas towards its goal of becoming a
leading provider of principal investment and corporate advisory services to
high growth and advanced technology companies.

This has been achieved by the following:

Raising of over £54 million of funds in the markets from a variety of
institutional, strategic and private investors;

Investing over £20 million in a number of companies, including 5GM, Callserve,
SellSo and IT Outpost;

Increasing our stake in 4HighTech from 18.5 per cent. to 40.3 per cent..
4HighTech (www.4hightech.com) is an Israeli venture capital company bridging
the gap between investors and early stage pure technology companies in one of
the most active areas of the world for these types of companies;

Recruiting personnel of the very highest calibre, with proven track records in
private equity and investment banking. In particular, Andrew Beaton,
previously responsible for GE Capital's European private equity activities,
and Alex Snow from Credit Suisse First Boston joined earlier this year. Andrew
has assumed the role of Chief Investment Officer whilst Alex is being proposed
to join the board.

Since June further important milestones have been met, not least:

The proposed merger with Christows Group Ltd. This is a major step forward for
the Company. It will not only give us a presence in fund management,
stockbroking and corporate advisory services, but will also strengthen the
Board via the presence of Christows' highly capable and experienced management
team. Further, Christows' asset base benefits from substantial interests in
Turbo Genset and the London Stock Exchange, as well as other holdings. Post
the merger we are proposing to change our name to EVC Christows PLC;

The completion of the acquisition in August 2000 of Capital Exchange, a
company authorised to carry out investment business by the Securities and
Futures Authority and whose website (www.capitalexchange.co.uk) matches
entrepreneurs seeking equity finance with investors.

Your Company has also seen further growth in the investment portfolio to a
current total of 39 companies, at a base cost of £27.5 million. Recent
investments and fundraisings include Pervasic, LBM, Callserve and GroupTrade.

Turning to the interim figures for the six months to 30 June 2000, the Company
made a profit before tax and provisions of £1.35 million.

We have taken the opportunity to make a provision of £5.47 million, being
approximately 20 per cent. of book cost, against specific companies in the
portfolio. This reflects the Company's prudent approach to accounting for
early stage companies that exist in an uncertain financing climate. This
prudent approach is also reflected in our policy on valuation of investments,
as we do not revalue investments on enhanced valuation events such as
fundraisings but only recognise profits on liquidity events, such as disposals
of shares. We have always stressed that there will be ups and down with these
businesses and we will continue to work with our portfolio companies to help
them achieve their full potential.

The profit of £0.86 million on the sale of investments arose primarily from
the sale of shares in easier plc, at a profit of £0.7 million in the period to
30 June, and in Freecom.net at a profit of £0.16 million. The remainder of our
holding in easier plc was disposed of subsequent to June 2000.

Administrative expenses of £0.45 million for the half year were inclusive of
over £0.1 million of registrar's fees due to the increased interest in private
investing in the period, as a result of which we are able to welcome over
16,000 shareholders to our share register.

We have begun to invest a small amount in enhancing our own web presence
(www.evestment.co.uk) which I encourage you to visit. This will provide you
with a great deal more information on all our investee companies, including
some video streamed presentations. We shall invest more into this,
particularly following the Christows merger, to provide a platform for growth.

We continue to be positive about the opportunity for versatile businesses such
as eVestment. In particular, we will remain focused on smaller high growth
businesses where we can invest early and advise them throughout their
development.

O J Vaughan

Chairman

26 October 2000



Profit and Loss Account

                                                Unaudited Unaudited     Audited

                                                      Six       Six  Year ended
                                                months to months to
                                                                    31 December
                                                  30 June   30 June        1999

                                                     2000      1999       £'000

                                                    £'000     £'000
Administrative expenses                           (452.2)    (30.7)      (71.6)
Profit/(loss) on sale of investments                855.1     (5.0)        64.4
                                                
    Provision for permanent diminution in value  (5,467.9)       -           -
    of fixed asset investments


Loss on ordinary activities before interest     (5,065.0)    (35.7)       (7.2)
Interest receivable                                 949.0      68.4        96.4

(Loss)/profit on ordinary activities before     (4,116.0)      32.7        89.2
taxation
Taxation                                          (153.4)     (9.6)       (9.6)

Retained (loss)/profit for the period           (4,269.4)      23.1        79.6

Basic (loss)/earnings per ordinary share -         (1.16)      0.02        0.08
pence

Fully diluted (loss)/earnings per ordinary         (0.82)      0.02        0.03
share - pence

                                Balance Sheet
                                            Unaudited Unaudited         Audited

                                              30 June   30 June     31 December
                                                                           1999
                                                 2000      1999
                                                                          £'000
                                                £'000     £'000
Fixed assets
Tangible assets                                  33.3         -               -
Investments                                  17,023.1     651.4         2,479.4
                                             17,056.4     651.4         2,479.4
Current assets
Debtors                                          46.8       3.7           298.9
Cash at bank and in hand                     37,160.4   2,097.1           740.0
                                             37,207.2   2,100.8         1,038.9
Creditors: amounts falling due within one     (133.0)    (64.8)         (554.0)
year
Net current assets                           37,074.2   2,036.0           484.9
Total assets less current liabilities        54,130.6   2,687.4         2,964.3
Creditors: amounts falling due after one      (143.8)     (9.6)               -
year
Net assets                                   53,986.8   2,677.8         2,964.3
Capital and reserves
Called up share capital                       4,197.8   1,000.0         1,092.0
Share premium                                53,814.6   1,490.5         1,628.5
Profit and loss account                     (4,025.6)     187.3           243.8
Equity shareholders' funds                   53,986.8   2,677.8         2,964.3
Net assets per share - pence                    12.86      2.68            2.71



Cash Flow Statement
                                                Unaudited Unaudited     Audited

                                                      Six       Six  Year ended
                                                months to months to
                                                                    31 December
                                                  30 June   30 June        1999

                                                     2000      1999       £'000

                                                    £'000     £'000
Net cash (outflow)/inflow from operating          (411.0)    (14.8)       186.4
activities
Returns on investment and servicing of finance
Interest received                                   949.0      68.4        96.4
Net cash inflow from returns on investments         949.0      68.4        96.4
Taxation
UK corporation tax paid                                 -         -      (24.6)
Capital expenditure and financial investments
Purchase of tangible fixed assets                  (36.2)         -           -
Purchase of fixed asset investments             (19,753.9)   (511.4)  (2,812.7)
Sale of fixed asset investments                   1,533.1     193.4       723.0
                                             
    Net cash outflow from capital expenditure   (18,257.0)   (318.0)  (2,089.7)
    and financial investments

                                            
    Cash outflow before management of liquid    (17,719.0)   (264.4)  (1,831.5)
    resources and financing

Management of liquid resources
Decrease in short term deposits                     800.3     380.0     1,529.7
Financing
Issues of ordinary share capital                 54,829.4         -       210.0
Expenses paid in connection with share issues     (690.0)         -           -
Net cash inflow from financing                   54,139.4         -       210.0
Increase/(decrease) in cash in the period        37,220.7     115.6      (91.8)

Notes to the Accounts


        1      Accounting policies

        (a)      Basis of accounting

The unaudited accounts for the six months to 30 June 2000 do not constitute
statutory accounts.

The profit and loss account, balance sheet and cash flow statement have been
prepared on a basis consistent with the statutory accounts for the year ended
31 December 1999.

(b) Consolidation

The profit and loss account and balance sheet comprise the accounts of the
parent company only as its subsidiary undertaking, Grosmont Limited, has been
dormant since incorporation.

(c) Fixed asset investments

Fixed asset investments are included in the financial statements at cost, less
provisions for permanent diminution in value. Income from fixed asset
investments is recognised on the basis of receipt.

(d) Deferred tax

Deferred tax is provided, using the liability method in respect of timing
differences to the extent that, in the directors' opinion, a liability is
expected to arise in the foreseeable future.


        2     Staff costs, employees and directors' remuneration


 i. Directors' remuneration is set out below:
                                         6 months ended         6 months ended

                                           30 June 2000            30 June 1999

                                                  £'000                  £'000

    J A Donnelly:
    Basic salary                                   25.0                      -

    No other director received remuneration during the period.
ii. Staff costs (including directors' emoluments):

                                         6 months ended          6 months ended

                                           30 June 2000            30 June 1999

                                                  £'000                   £'000

Wages and salaries                                 62.8                       -
Social security costs                               7.2                       -

(iii)      Number of employees:

The average number of persons employed by the company (excluding directors)
during the period was two (1999: nil).

3     Taxation

The tax charge for the six months to 30 June 2000 has been calculated at the
appropriate prorated tax rate for the period, and represents an estimate of
the appropriate proportion of the expected charge to 31 December 2000.

4     Earnings per share

The calculation of the basic earnings per ordinary share is based on profit on
ordinary activities after tax and on the weighted average number of ordinary
shares in issue during the period. The calculation of diluted earnings per
ordinary share is based on the basic earnings per ordinary share adjusted to
allow for the issue of shares on the assumed conversion of all dilutive
warrants and further subscription rights ('FSR's').

Reconciliations of the earnings and weighted average number of shares used in
the calculations are set out in the table below.


                     6 months ended 30 June 2000   6 months ended 30 June 1999
                                                                                
                            Weighted   Earnings           Weighted    Earnings

              Earnings        average  per share Earnings   average   per share

                     £      number of    (pence)       £   number of    (pence)

                               shares                        shares
            
    Basic   (4,269,351)    369,419,061   (1.16)   23,100  100,000,200     0.02
    (loss)/
    earnings
    per
    ordinary
    share


Dilutive            -      151,821,266                 -            -
effect of
securities

    -
    warrants
    and
    FSR's

    Dilutive (4,269,351)   521,240,327   (0.82)   23,100  100,000,200    0.02
    (loss)/
    earnings
    per
    ordinary
    share



5     Investments
                                                 Listed    Unlisted       Total

                                                  £'000       £'000       £'000
Cost
At 1 January 2000                                 269.0     2,210.4     2,479.4
Additions                                       1,000.0    19,664.5    20,664.5
Reclassification                                  198.0     (198.0)           -
                                                      
        Disposals                                     -     (652.9)     (652.9)

At 30 June 2000                                 1,467.0    21,024.0    22,491.0

Provisions
At 1 January 2000                                     -           -           -
Provisions for permanent diminution in value          -     5,467.9     5,467.9

At 30 June 2000                                       -     5,467.9     5,467.9

Net Book Value
At 30 June 2000                                 1,467.0    15,556.1    17,023.1

At 31 December 1999                               269.0     2,210.4     2,479.4

Aggregate market value
At 30 June 2000                                 1,613.1    15,367.7    16,980.8

6     Reconciliation of operating loss with net cash flow from operating
activities
                                               6 months ended   6 months ended

                                                 30 June 2000     30 June 1999

                                                        £'000            £'000

Administrative expenses                               (452.2)           (30.7)
Depreciation of tangible fixed assets                     2.9                -
Decrease in prepayments and accrued income              206.9              0.4
Increase in other creditors                              28.0             15.5
(Decrease) in accruals and deferred income            (196.6)                -

Net cash outflow from operating activities            (411.0)           (14.8)

7     Reconciliation of net cash flow to movement in net funds
                                               6 months ended    6 months ended

                                                 30 June 2000      30 June 1999

                                                        £'000             £'000

Increase in cash in the period                       37,220.7             115.6
Cash used to decrease liquid resources                (800.3)           (380.0)

Movement in net funds in the period                  36,420.4           (264.4)
Net funds at the beginning of the period                740.0           2,361.5

Net funds at the end of the period                   37,160.4           2,097.1



8     Reconciliation of movements in shareholders' funds
                                                        6 months      6 months
                                                           ended         ended

                                                    30 June 2000  30 June 1999

                                                           £'000         £'000

(Loss)/profit on ordinary activities after             (4,269.4)          23.1
taxation
Issues of ordinary share capital                        55,291.9             -

Net increase in shareholders' funds                     51,022.5          23.1
Shareholders' funds at the beginning of the period       2,964.3       2,654.7

Shareholders' funds at the end of the period            53,986.8       2,677.8

9     Analysis of changes in net funds
                                       At       Cash flow                    At

                           1 January 2000           £'000          30 June 2000

                                    £'000                                 £'000

Cash at bank                            -        37,160.4              37,160.4
Cash on deposit                     800.3         (800.3)                     -
Overdrafts                         (60.3)            60.3                     -

                                    740.0        36,420.4              37,160.4


10. Other Information

The interim report was approved by the directors on 25 October 2000.

The financial information contained in the interim results does not constitute
statutory accounts within the meaning of section 240 of the Companies Act
1985. Grant Thornton of 31 Carlton Crescent, Southampton SO15 2EW have made a
report under Section 235 of the Companies Act 1985 on the statutory accounts
of the Company for the year ended 31 December 1999 which was unqualified and
did not contain a statement under section 237(2) or (3) of the Companies Act
1985. The statutory accounts of the Company for the year ended 31 December
1999 have been delivered to the Registrar of Companies.

A copy of the interim report will be made available to the public at the
Company's registered office, 223a Kensington High Street, London W8 6SG for a
period of 14 days from the date of this announcement.