Interim Results - Period to 30 September 1999

Feedback PLC
14 December 1999

                                 Feedback PLC                                 
                         - Interim Statement for the                          
                       period to 30th September, 1999 -                       

Chairman's Interim Statement

In common with other companies in the high technology field, the past six
months has seen great interest in the fortunes of the Group, whose shares were
included in the techMARK listing on the London Stock Exchange from its
inception in early November.  Whilst most of the media coverage has focussed
on our joint venture Internet company, TekniCAL, it is pleasing to note that
our other existing companies have contributed to the satisfactory result for
the six months to 30 September 1999.

Turnover at £4,334,500 showed a 19% increase when compared with that of last
year's first half, whilst the pre-tax profit of £298,000 compares with a loss
of £334,000.  Payment of a dividend on the ordinary shares is not proposed at
this stage of the return to sustainable profitability.

Feedback Instruments and Feedback Incorporated, together with TekniCAL,
continue to serve educational and training markets on a worldwide scale and
offer seamless integration of Feedback's hardware into TekniCAL's web based
student management and teaching delivery system.

Feedback Instruments had a much better first half than in the corresponding
period last year.  Whilst there has been a significant recovery in export
business, it has not yet recovered to previous levels.  However, there are
many encouraging aspects to the current level of sales activity, although
forecasting the timing of this potential business remains difficult.

Feedback Incorporated, where the new management team is now well established,
continues to operate broadly in line with Budget.  The planned launch of the
TekniCAL product in America will take place in December where pre-launch
marketing has been encouraging.

TekniCAL provides distance learning solutions and services through an Internet
based Virtual Campus.  It provides a means of delivering education and
training courses to the desktop using the latest web based technologies and is
ideally suited to the corporate training market.  The system meets the needs
of educators providing 'Life Long Learning' and enables the Company to address
a much broader training environment than in the past.  TekniCAL had a very
good first half and has established Virtual Campuses, providing on-line
education and training, to well over one hundred sites.  The prospects for the
TekniCAL Virtual Campus are promising and it is planned to launch the product
generally overseas in the coming months.

Feedback Data had a good first half, with an increase in turnover coupled with
improved margins leading to a near 20% advance in profits for the six month
period. The emphasis on customer care and the growing VAR (Value Added
Reseller) network resulted in a further increase in demand for data capture
terminals, the Company's core product range.  Sales of Microtrak (access
control/security products) now account for a significant proportion of
turnover and should benefit further as the Company appoints additional
security installers.  

The Company's programme of continually up-grading product ranges and enhancing
software keeps the Company  ahead in the market.  The latest product is a
terminal to meet the European Working Time Directive recording requirements. 
The Company is now a hardware, software and services operation, with all
sectors contributing to the improved activity and profitability.  I am
confident that the current level of performance can be maintained.

The results of the German subsidiary were below expectations, with delays
experienced in securing on-going contracts.  It is anticipated that the second
half should see some improvement.

The Group is feeling the benefit, both in its educational and data capture
operations , from the emphasis placed upon software development over recent
years.  The results of the first half are encouraging and current activity
remains at a satisfactory level.

DH Harding
Chairman

14 December 1999


                                 FEEDBACK PLC                                 
                           PROFIT AND LOSS ACCOUNT                            

                               Six Months to     Six Months to     Year ended 
                                  30 Sept 99        30 Sept 98    31 March 99 
                                      £'000s            £'000s         £'000s
                                     -------           -------        -------
Turnover                             4,334.5           3,649.3        8,445.0
                     
Operating profit/(loss)                193.1            (218.9)         215.7
                     
Share of operating profit
/(loss) of joint venture               103.1              (0.5)         107.6
                     
Reorganisation costs                       -            (116.6)        (116.6)
                     
Net interest receivable/(payable)        1.8               1.7          (24.3)
                                     -------           -------        ------- 
Profit/(loss) on ordinary activities   298.0            (334.3)         182.4
                     
Tax on profit/(loss) on 
ordinary activities                    (89.4)                -           43.0
                                     -------           -------        ------- 
Profit/(loss) for the period 
after taxation                         208.6            (334.3)         225.4
                     
Ordinary dividends paid and proposed       -                 -              -
                     
Preference dividends paid              (58.2)            (76.0)        (152.1)
                     
Preference share costs appropriation   (57.6)             (3.6)          (3.6)
                                     -------           -------        ------- 
Retained profit/(loss) for the period   92.8            (413.9)          69.7
                     
Earnings/(deficit) per share           1.64p            (4.82p)         0.80p
                     
Diluted earnings/(deficit) per share   1.29p            (4.82p)         0.80p
                                     -------           -------        ------- 

                                 FEEDBACK PLC                                 
                                BALANCE SHEET                                 

                               Six Months to      Six Months to       Year to 
                                  30 Sept 99        30 Sept 98    31 March 99 
                                      £'000s            £'000s         £'000s
                                     -------           -------        -------
                     
Fixed Assets                           530.6             617.0          546.2
Investment in Joint Venture            228.1                 -          125.0
                                     -------           -------        -------
                                       758.7             617.0          671.2
Current Assets                     
Stocks                               1,314.7           1,837.7        1,477.6
Debtors                              3,557.6           2,212.6        3,213.4
Cash at bank and in hand             1,304.5             890.7        1,017.3
                                     -------           -------        ------- 
                                     6,176.8           4,941.0        5,708.3
                     
Creditors                     
Amounts falling due within one year (2,509.2)         (1,682.4)      (2,039.3)
                     
Net Current Assets                   3,667.6           3,258.6        3,669.0
                                     -------           -------        ------- 
Total assets less current 
liabilities                          4,426.3           3,875.6        4,340.2
                     
Creditors                     
Amounts falling due after more 
than one year                         (250.7)           (283.1)        (261.1)
                                     -------           -------        -------
Net assets                           4,175.6           3,592.5        4,079.1
                                     =======           =======        =======
                     
Capital and reserves                     
Ordinary share capital               1,057.4             861.9          861.9
Preference share capital             1,129.8           1,520.7        1,520.7
Reserves                             1,988.4           1,209.9        1,696.5
                                     -------           -------        -------
Shareholders' funds                  4,175.6           3,592.5        4,079.1
                                     =======           =======        =======

                                 FEEDBACK PLC                                 
                              CASHFLOW STATEMENT                              

                               Six Months to     Six Months to        Year to 
                                  30 Sept 99        30 Sept 98    31 March 99 
                                      £'000s            £'000s         £'000s
                                     -------           -------        -------
                     
Net cash (outflow)/inflow from
 operating activities                 (107.3)            (67.2)         413.0
                     
Returns on investments and 
servicing of finance                     1.8               1.7          (24.3)
                     
Preference dividend paid               (58.2)            (76.0)        (152.1)
                     
Corporation tax paid                    (7.8)            (20.1)        (102.3)
                     
Capital expenditure                    (51.5)            (37.0)         (48.4)
                     
Financing                              (22.7)            (13.5)         (50.5)
                     
Management of liquid resources         500.0            (150.0)        (850.0)
                                     -------           -------        ------- 
Increase/(decrease) in cash            254.3            (362.1)        (814.6)
                                     -------           -------        -------

           Reconciliation of operating profit to operating cashflow           

                               Six Months to     Six Months to        Year to 
                                  30 Sept 99        30 Sept 98    31 March 99 
                                      £'000s            £'000s         £'000s
                                     -------           -------        -------

Operating profit/(loss)                193.1            (222.5)         215.7
                     
Reorganisation costs                       -            (116.6)        (116.6)
                     
Depreciation charges                    67.1              77.1          158.4
                     
Loss on sale of tangible 
fixed assets                               -                 -            3.0
                     
Exchange difference                    (53.9)            (11.3)         (13.5)
                     
Decrease/(increase) in stocks          162.9            (103.5)         256.6
                     
(Increase)/decrease in debtors        (413.8)            540.8         (390.4)
                     
(Decrease)/increase in creditors       (62.7)           (231.2)         299.8
                     
Net cash (outflow)/inflow from 
operating activities                  (107.3)            (67.2)         413.0


Notes:

The interim figures for the six months to 30 September 1999, which are
unaudited, have been prepared on the basis of the accounting policies set out
in the Annual Report and Accounts for the year ended 31 March 1999.  The
Financial information contained in this Interim Report does not amount to full
accounts within the meaning of Section 240 of the Companies Act 1985.

The results for the year ended 31 March 1999 are extracted from the published
accounts for that period on which the auditors gave an unqualified report and
which have been filed with the Registrar of Companies.

The earnings per share for the six months ended 30 September 1999 is based on
the Group profit on ordinary activities after taxation and preference
dividends of £150,400 attributed to 9,172,838 ordinary shares, being the
weighted average number of ordinary shares in issue.  Diluted earnings per
share is calculated on the weighted average number of ordinary shares assuming
the conversion of all the 1,410,000 Convertible Redeemable Cumulative
Preference Shares (7,050,000 ordinary shares) and the exercise of share
options (16,155).

Copies of this announcement will be posted to shareholders in due course.

Enquiries:       Roger Barnett
                 Feedback plc
                 01892 653 322