Interim Results

Ninth Floor (The) PLC
5 February 2001

           The Ninth Floor plc ('The Ninth Floor' or 'the Company')

          Interim results for the six months ended 30 November 2000


Chairman's Statement

Introduction

I am pleased to present my report for the six months ended 30 November 2000.

Results and Dividends

Operating loss on continuing operations was £835,000 (1999 loss £897,000) on
Turnover of £1.822 million (1999 £979,000). This loss includes £139,000 of
amortised Goodwill on the acquisition of Farsight (1999 nil).

Loss for the six months on ordinary activities before taxation was £797,000
(1999 loss £612,000).

Trading Review

Farsight - Since our acquisition of leading CCTV security surveillance
specialist Farsight in April 2000, considerable investment has been
undertaken.

In November the Company relocated to a new purpose built control center on the
outskirts of Peterborough. The 10,000 square foot centre has been designed and
built to the highest appropriate standards.

Since the Centre has been opened, Farsight has won a number of new assignments
and is in discussion with a number of large potential customers.

During the same period, investment has also been undertaken in the Company's
revolutionary E-surveillance software.

E-surveillance uses the internet as the carrier of alarm signals to the
monitoring centre, as opposed to conventional monitoring which uses ISDN
routing. By using the internet, E-surveillance offers the prospect of
significantly reducing the cost of remote CCTV monitoring while increasing
operational flexibility so that the cameras can be used for other management
purposes including measuring footfall in retail environments.

As part of that development of E-surveillance, Farsight participated in the
European Community funded Goodwin Project. This project, which was based in
Hull, sought to provide innovative solutions to the problem of combating crime
in high density residential areas. The project which has been hailed as a
significant success has attracted considerable interest in Central and Local
Government and opens up a new potential market for Farsight.

Farsight is also participating in another Local Authority funded pilot project
in South Wales which allies E-surveillance software to the Government's
initiative on bringing internet to all schools. This provides a flexible
security monitoring solution which, if successful, will also provide
significant growth opportunities.

We have been working with a number of camera manufacturers, who are seeking to
offer professional quality internet protocol (IP) addressable cameras. We have
a worldwide development agreement with JVC and are negotiating similar
arrangements with other leading manufacturers.

The flexibility of E-surveillance allied to lower cost IP addressable camera
technology offers the prospect of CCTV monitoring at substantially reduced
cost. This will undoubtedly substantially increase the marketplace for remote
monitoring.

We believe that Farsight is the only company in the world which has to date
produced a workable solution to the issue of providing professional quality
CCTV monitoring over the internet. Discussions are now taking place on the
licensing of this software into overseas marketplaces.

In the six months ended November 2000, Farsight recorded an operating loss of
£34,000 on turnover of £368,000.

Swansea City AFC

After the success of winning the Division 3 Championship in May, the Club
benefited from increased commercial activity and season ticket sales during
the summer. This allied to the advances received on centrally negotiated
television contracts for the three seasons commencing season 2001/02 has
enabled the club to be self financing during the period, although no income
associated with the new contract has been included in these figures.

The past investment in youth development has been rewarded with the transfer
of two of our players to Southampton Football Club for a maximum potential fee
of £1 million, contingent upon future games played. The initial tranche of £
200,000 associated with these transfers have been included with these results.

In the six months, Swansea AFC recorded an operating loss of £208,000 (1999
loss £567,000) on turnover of £1.436 million (1999 £978,000).

Off the pitch, we are delighted to announce that within the last week,
planning consent has been granted for the long awaited development of a new
stadium at Morfa, Swansea.

This stadium, which is being developed in conjunction with The City and County
of Swansea and Swansea Rugby Club will see a 25,000 all seated stadium being
constructed, financed from the proceeds of a 700,000 square feet commercial
scheme being developed on land adjoining the new stadium.

This new facility is being scheduled for opening in Summer 2002 and will
underwrite the long term future of both the football and rugby club in
Swansea.

Future Strategy

In announcing the sale of Silver Shield Screens last year, we identified the
fast growing area of technology based solutions for building and property
management and maintenance as being our targeted area for future development.

The acquisition of Farsight was the first step in implementing this strategy.

It is now quite clear that if we are to succeed in fulfilling our plans, we
need to direct all available resources, both management and financial, into
this area.

We have therefore decided to seek a buyer for our shareholding in Swansea City
AFC. Our brokers, Seymour Pierce, have been instructed to find a buyer and I
am hopeful of an early exit from this investment.

At the same time we are in the early stages of negotiating a substantial
acquisition which will add to our range of services in property and
infrastructure management as well as complementing the business of Farsight.

I will ensure that shareholders are kept informed on our progress in these
negotiations and in our plans to dispose of Swansea.

Conclusion

The last six months has witnessed a substantial improvement in the prospects
of The Ninth Floor plc. Your Directors are committed to ensure that through
fulfilling our stated strategy, we can deliver substantially enhanced
shareholder value.

Alan Wix

Chairman





Consolidated Profit and Loss Account

For the six months ended 30 November 2000
                                       Unaudited        Unaudited       Audited

                                      Six months       Six months       Year to
                                              to               to
                                                                         31 May
                                              30               30
                                        November         November          2000

                                            2000             1999        £000's

                                          £000's           £000's
Turnover
Continuing operations                      1,822              979         2,155
Discontinued operations                        0            5,343         6,073
                                           1,822            6,322         8,228

Total turnover
Cost of sales                                  0          (2,530)       (2,913)

Gross Profit                               1,822            3,792         5,315

Net operating expenses                   (2,657)          (4,205)       (7,089)
Exceptional net operating expenses             0             (75)          (54)

Total net operating expenses             (2,657)          (4,280)       (7,143)

Operating (loss)/profit
Continuing operations                      (835)            (897)       (2,167)
Discontinued operations                        0              409           339
Total operating loss                       (835)            (488)       (1,828)
Profit on disposal of subsidiary -
discontinued operations                        0                0         2,557
Interest payable and similar charges           0            (124)         (120)
Interest receivable                           38                0            55
(Loss)/profit on ordinary activities
before taxation                            (797)            (612)         (664)
Taxation                                       0                0         (150)
(Loss)/profit on ordinary activities       (797)            (612)           514
after taxation
Minority interests                             0                0             0
(Loss)/profit for the financial            (797)            (612)           514
period

Earnings/(loss) per ordinary share       (1.61)p          (1.14)p         1.16p
Fully diluted earnings/(loss) per
ordinary share                           (1.61)p          (1.14)p         1.12p




Consolidated Balance Sheet

As at 30 November 2000
                                      Unaudited         Unaudited       Audited

                                     Six months        Six months       Year to
                                             to                to
                                                                         31 May
                                    30 November       30 November
                                                                           2000
                                           2000              1999
                                                                         £000's
                                         £000's            £000's
Fixed assets
Intangible assets                         2,628             1,004         2,796
Tangible assets                           1,889             1,971         1,453
                                          4,517             2,975         4,249

Current assets
Stocks                                       38               389            24
Debtors                                   1.820             3,695         1,804
Cash at bank and in hand                    884                29         1,842
                                          2,742             4,113         3,670
Creditors: Amounts falling due
within
one year                                (1,493)           (6,675)       (1,296)
Net current assets/(liabilities)          1,249           (2,562)         2,374
Total assets less current                 5,766               413         6,623
liabilities
Creditors: Amounts falling due
after more
than one year                              (17)             (173)          (67)
Accruals and deferred income              (718)             (737)         (728)
Net assets                                5,031             (497)         5,828

Capital and Reserves
Share Capital                             4,939             4,264         4,939
Share Premium Account                     3,895             2,597         3,895
Profit and Loss Account - (deficit)     (3,803)           (7,358)       (3,006)
                                          5,031             (497)         5,828
Minority Interests                            0                 0             0
Equity Shareholders' Funds/               5,031             (497)         5,828
(deficit)




Notes on the Interim Report

Basis of Preparation

The interim accounts were approved by the Board of Directors on 26 January
2001, and are neither audited nor reviewed by the auditors. They do not
constitute statutory accounts, but have been prepared on the basis of the
accounting policies set out in the annual report for the year ended 31 May
2000. Information in respect of the year ended 31 May 2000 is derived from the
Group's statutory accounts for the year which have been delivered to the
Registrar of Companies. The auditor's report on those accounts was unqualified
and did not contain any statement under sections 237(2) and 237(3) of the
Companies Acts 1985.

Earnings/(loss) per ordinary share

The calculation of basic loss per share is based on a loss of £797,000 (30
November 1999: £(612,000); 31 May 2000: £514,000) and a weighted average
number of shares of 49,387,619 (30 November 1999: 42,637,619; 31 May 2000:
44,123,153).

For diluted loss per share, the weighted average number of shares in issue is
adjusted to assume conversion of all dilutive potential ordinary shares.



Copies of the interim statement are being sent to shareholders of the Company
and are also available at the Company's Registered Office.