Trading Statement

Mattioli Woods PLC
19 December 2006



Press Release                                                   19 December 2006

                               Mattioli Woods plc

                       ('Mattioli Woods' or 'the Group')

                                Trading Update


Mattioli Woods plc, the specialist pensions consultancy, today issues the
following trading update in advance of its Interim Results for the six months
ended 30 November 2006, which are to be announced on 20 February 2007.

Bob Woods, Executive Chairman, comments:

'I am delighted to report continued turnover growth, as expected, over the last
six months.  This has been coupled with stronger operating margins, resulting in
trading for the period being slightly ahead of expectations.  We are operating
in a sector that has been stimulated by legislative changes and strong
investment markets.  These factors, together with ongoing demand for
self-invested personal pensions ('SIPPs'), have resulted in the anticipated
increase in our time-costed fees compared to the same period last year.

'We are delighted the Government has endorsed the abolition of annuity purchase.
However, we believe the Government has missed an opportunity to create the
environment for a 'family pension fund' by announcing proposals to introduce a
new tax charge in the event of death after the age of 75.  Overall, we expect
these proposals to widen planning opportunities for our clients.

'We are already seeing not only a substantial increase in inheritance tax
planning linked to pensions but also more sophisticated pension planning in
general.  These factors are expected to increase demand for our bespoke pension
consultancy services. Consequently, we expect revenues in the second half to
continue to grow.

'In response to our clients' desire for a variety of investment opportunities,
recent Mattioli Woods' initiatives include syndicated property investments and
capital-guaranteed bonds linked to some of the world's most dynamic stock
markets.  Both of these products have performed strongly, with some £9.6 million
of property transactions completed in the first half and our second guaranteed
bond issue closing over-subscribed.  We have a solid pipeline of new property
investment opportunities, and already contracts have been exchanged for a
further £4.4 million of syndicates.  A series of further capital-guaranteed bond
issues is also planned over the next twelve months.

'We are greatly encouraged by the successful integration of the acquisitions
made to date, with both the acquired portfolios generating increased revenues.
This gives us the confidence to actively seek further acquisition opportunities.

'Maintaining capacity remains crucial in an environment of growing demand, and
our recruitment programme remains on target.  Seven new graduates have joined
the Group since 1 June 2006, increasing our total headcount to 95.

'Over the summer months, we carried out test marketing to ascertain the demand
for consultancy services to employers with final-salary schemes.  Positive
feedback suggests this could become a new revenue stream in the years to come.

'The Financial Services Authority's proposed regulation of SIPPs will come into
effect in the spring of 2007.  Regulation will create a barrier to new market
entrants on the back of increased capital adequacy requirements, and may lead to
further consolidation in the sector.  The proposed regulations will provide us
with greater flexibility in delivering SIPPs and other bespoke pension products.

'We are confident we can achieve market expectations for the full year.'


                                  - Ends -


For further information please contact:
Mattioli Woods plc
Bob Woods, Executive Chairman                          Tel: [phone]
[e-mail]                             www.mattioli-woods.com


Ian Mattioli, Chief Executive                          Tel: [phone]
[e-mail]                           www.mattioli-woods.com


Nathan Imlach, Finance Director                        Tel: [phone]
[e-mail]                         www.mattioli-woods.com


Evolution Securities Limited
Joanne Lake, Corporate Finance                         Tel: [phone]
[e-mail]                              www.evosecurities.com


Media enquiries:
Abchurch
Heather Salmond/ Louise Thornhill                      Tel: [phone]
[e-mail]                       www.abchurch-group.com



Note to editors:

Mattioli Woods was established in 1991 by Ian Mattioli and Bob Woods.  The Group
provides pensions consultancy and administration services primarily to
owner-managers, senior executives and professionals.  Mattioli Woods' key
activities include complex pensions consultancy, the provision of self-invested
personal pensions ('SIPP') and small self-administered pension schemes ('SSAS'),
advice on related business affairs, including pension investment services and
the facilitation and administration of syndicated property schemes.  Its focus
is at the higher end of the market where clients require bespoke service and
specialist advice.

Mattioli Woods listed on the AIM market on 23 November 2005.





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