Final Results

MS International PLC
28 June 2005


Date:     Under embargo until 7.00am - Tuesday 28th June, 2005

Contacts: Michael Bell, Executive Chairman, MS INTERNATIONAL plc
          Tel: [phone]

          Terry Garrett, Weber Shandwick Square Mile
          Tel: [phone]

                              MS INTERNATIONAL plc
                     Full Year Results to 30th April, 2005

                                   HIGHLIGHTS

   •All three operating divisions produced highly commendable results

   •Turnover increased to £38.24m (2004 - £32.32m)

   •Pre-tax profits up to £3.34m (2004 - £1.38m)

   •Earnings per share more than doubled to 12.7p (2004 - 5.0p)

   •Final dividend up by 24% to 1.65p (2004 -1.33p) per share making a total
    of 2.15p (2004 - 1.75p)

   •Net funds remain positive at £0.76m (2004 - £2.20m)

   •Current order book 'remains healthy and well balanced'

   •Board considering a move to AIM

Michael Bell, Executive Chairman, commented:

'I am pleased to report that all three divisions have continued to perform well
and the Group has achieved a significant increase in profits for the year.
Looking forward, our order book remains healthy and well balanced and I believe
that we will continue to reap the rewards of our capital investment in both
plant and equipment and our research and development programmes. We are
cautiously optimistic that demand will remain strong throughout the remainder of
the calendar year.'

Chairman's Statement

Results and review

In my interim statement, I highlighted my belief that the Group was in an
excellent position to take advantage of the general upturn in world trading
conditions. I am now pleased to report that the momentum evident during that
first half continued to develop throughout the remainder of the year resulting
in significant profits growth for the 12 months as a whole.

For the year ended 30 April 2005, the Group profit before taxation advanced
strongly to £3.34m (2004-£1.38m), on higher sales of £38.24m (2004-£32.32m).
Earnings per share more than doubled to 12.7p (2004-5.0p).

During the period we overcame the many challenges that were posed by rising
energy costs; limited availability and constantly rising prices for raw
materials; the commissioning of new plant and equipment; the rigorous trials of
new product developments and unfavourable currency movements. Not only did we
overcome these difficulties but also continued to benefit from sustained growth
in demand from our customers for our quality products and services.

The three operating divisions - defence, forgings and petrol station forecourt
structures - produced highly commendable results, with each contributing its
share of growth within the overall results. Persistent and dedicated attention
to detail, innovation and an unyielding commitment to the process of achieving
budgeted cost savings and optimising production efficiency, created the
opportunities to build successfully on recent gains.

The Group's consolidated net funds remained positive at £0.76m (2004-£2.20m).
Though lower than last year, this reflects, in part, the effect of higher raw
material contingency stocks - essential to ensure that we maintained our
outstanding reputation to keep our valued customers supplied during a difficult
trading period - and the ongoing investment in new plant and equipment and
product development. In addition, an important factor was the Company's purchase
of 2.09m MS INTERNATIONAL plc shares for cancellation, at a total cost of
£1.33m.


Outlook

The payback, ensuing from capital invested over recent years in both our plant
and equipment and research and development programmes, should continue to
strengthen our trading position. Recognising that the future prosperity of our
Company depends critically on technological and innovative investment, we
propose to direct further capital into these areas in the current year.

The Group order book remains healthy, well balanced and aligned with the
established patterns associated within the individual businesses.

As a result, we are cautiously optimistic that the markets that we serve will
remain strong throughout the remainder of this calendar year. Naturally, we
remain vigilant to detect any change in the position but currently these markets
are not indicating any signs of the slowdown in activity being reported in many
other industrial activities.


The Board is committed to increasing shareholder value. With this in mind we are
considering whether the AIM market would provide a more appropriate environment
in which to achieve the Group's objectives and whether it would be in the best
interests of the Company and its shareholders to transfer to that market. If a
decision to move is made, the Board would provide shareholders with 20 business
day's notice by way of an announcement.

Finally, the Board recommends the payment of an increased final dividend of
1.65p per share (2004-1.33p), making a total for the year of 2.15p (2004-1.75p).

Michael Bell
28 June 2005


Group Profit and Loss Account
For the 52 weeks ended 30th April, 2005

                                                              2005        2004
                                                             Total       Total
                                                              £000        £000

Turnover: Group and share of joint venture                  38,241      32,323
Less: Share of joint venture turnover                       (6,046)     (6,093)
_________________________________________________________  _______      _______

Group turnover                                              32,195      26,230
_________________________________________________________  _______      _______

Operating profit                                             2,975       1,092
Share of operating profit of joint venture                     362         302
_________________________________________________________  _______      _______

Profit on ordinary activities before interest                3,337       1,394

Interest receivable:
Group                                                           37          19
Joint venture                                                    7          10

Interest payable:
Group                                                          (38)        (48)
_________________________________________________________  _______      _______

Profit on ordinary activities before taxation                3,343       1,375

Tax on profit on ordinary activities                        (1,061)       (451)
_________________________________________________________  _______      _______

Profit on ordinary activities after taxation                 2,282         924

Dividends                                                     (364)       (325)
_________________________________________________________  _______      _______
Retained profit for the Group and its share of
joint venture                                                1,918         599

_________________________________________________________  _______      _______

Earnings per share: basic                                     12.7p        5.0p
                    fully diluted                             10.8p        4.2p
_________________________________________________________  _______      _______

Group Statement of Total Recognised Gains and Losses

                                                              2005        2004
                                                              £000        £000

Profit for the financial period                              2,282         924
Translation differences on foreign currency net
investments                                                      8         (43)
_________________________________________________________  _______      _______

Total gains recognised since last annual report              2,290         881
_________________________________________________________  _______      _______

Historical cost profits and losses
There is no material difference between the result as disclosed in the profit
and loss account and the result which would have been reported had the Group
prepared the accounts on an unmodified historical cost basis.

Notes

The financial information set out above does not constitute the Company's
statutory accounts for the periods ended 30th April, 2005 or 1st May, 2004 but
is derived from those accounts. Statutory accounts for 2004 have been delivered
to the Registrar of Companies, and those for 2005 will be delivered following
the Company's Annual General Meeting. The auditors have reported on those
accounts; their reports were unqualified and did not contain a statement under
section 237 (2) or (3) of the Companies Act 1985.

The earnings per share is calculated dividing the profit after taxation of
£2,282,000 (2004 - £924,000) by the weighted average of 18,018,988 (2004 -
18,634,558) shares in issue in the year.

Copies of this announcement are available from the Company's registered office
at MS INTERNATIONAL plc, Balby Carr Bank, Doncaster, DN4 8DH, England. The full
Annual Report and Accounts will be posted to shareholders shortly and will be
delivered to the Registrar of Companies after it has been laid before the
Company in general meeting.

Dividend warrants will be posted on 2nd September, 2005 to members on the books
of the Company at 5th August, 2005.

Balance Sheets
At 30th April, 2005

                                                  Group                    Company
                                            2005           2004       2005           2004
                                                      (restated)                (restated)
                                            £000           £000       £000           £000
Assets employed
________________________________________   _______     ________      ________   _________

Fixed assets

Intangible assets                            280            280        280            280
Tangible assets                            8,342          7,995      8,162          7,866
Investment in
subsidiary undertakings                                       -      6,816          6,801
Investment in joint
venture                                                       -         50             50
Joint venture:
    Share of gross assets                  2,090          2,361          -              -
    Share of gross liabilities            (1,382)        (1,745)         -              -
________________________________________   _______     ________      ________   _________

                                           9,330          8,891     15,308         14,997
________________________________________   _______     ________      ________   _________
Current assets
Stocks                                     5,511          4,143      4,099          3,331
Debtors                                    5,390          6,554      6,603          7,422
Group pension scheme prepayment
- due after more than one year             6,638          6,368      6,638          6,368
Cash at bank and in hand                   1,013          2,919        920          2,872
________________________________________   _______     ________      ________   _________

                                          18,552         19,984     18,260         19,993
Creditors - amounts falling due 
within one year                           11,193         12,544     17,776         19,422
________________________________________   _______     ________      ________   _________

Net current assets                         7,359          7,440        484            571
________________________________________   _______     ________      ________   _________

Total assets less current liabilities     16,689         16,331     15,792         15,568

Creditors - amounts falling due after 
more than one year                             5            245          -            245

Provisions for liabilities and charges     2,922          2,925      2,921          2,925
________________________________________   _______     ________      ________   _________

Total assets less liabilities             13,762         13,161     12,871         12,398
________________________________________   _______     ________      ________   _________

Capital and reserves
Called up share capital                    1,886          2,096      1,886          2,096
Capital redemption reserve                   855            645        855            645
Revaluation reserve                        1,853          1,853      1,853          1,853
Other reserves                             3,967          3,959      3,998          4,005
Special reserve                            1,629          1,629      1,629          1,629
Own shares                                  (738)          (738)      (738)          (738)
Profit and loss account                    4,310          3,717      3,388          2,908
________________________________________   _______     ________      ________   _________

Equity shareholders' funds                13,762         13,161     12,871         12,398
________________________________________   _______     ________      ________   _________


Group Cash Flow Statement
For the 52 weeks ended 30th April, 2005
                                                 2005          2005              2004              2004
                                                                            (restated)        (restated)
                                                 £000          £000              £000              £000

Operating profit                                2,975                           1,092
Depreciation charge                               891                             818
Foreign exchange gains                            (13)                            (22)
RSA grant release                                 (13)                            (13)
SSAP24 pension charge                             360                             360
Increase in stocks                             (2,743)                         (1,104)
Decrease/(increase) in debtors                  1,161                          (1,981)
(Decrease)/increase in creditors                 (514)                          1,654
Increase in progress payments                     705                           1,892
Increase in provisions                             48                              77
Provisions utilitised                            (197)                            (65)
Pension fund payments                            (630)                           (170)
_____________________________________________  _______                         _______

Cash flow from operating activities                           2,030                               2,538

Dividends received from joint venture                           200                                 125

Interest paid                                                    (2)                                (35)

Taxation                                                       (763)                               (136)

Purchase of tangible fixed assets              (1,250)                           (688)
Purchase of intangible fixed assets                 -                             (29)
Sale of tangible fixed assets                      22                              13
_____________________________________________  _______                         _______

Capital expenditure and financial investment                 (1,228)                               (704)

Dividends paid                                                 (338)                               (341)
_____________________________________________                ________                            _______

Cash (outflow)/inflow before financing                         (101)                              1,447

Financing
Purchase of own shares                         (1,325)                           (354)
Shares purchased by ESOT                            -                            (356)
Share options exercised                             -                             349
Decrease in long term bank loans                 (333)                           (334)
Repayments of capital element of finance 
leases and hire purchase contracts               (147)                           (301)
                                               _______                         _______
                                                             (1,805)                               (996)

________________________________________________________________________________________________________
(Decrease)/increase in cash                                  (1,906)                                451
________________________________________________________________________________________________________



Reconciliation of net cash flow to movement in net funds

                                                                2005      2004
                                                                £000      £000

(Decrease)/increase in cash                                   (1,906)      451
Cash outflow from decrease in long terms loans                   333       334
Repayments of capital element of finance
leases and hire purchase contracts                               147       301
__________________________________________________________    _______    _______

Changes in net funds resulting from cash flow                 (1,426)    1,086

New leases                                                       (10)      (99)
__________________________________________________________    _______    _______

Movement in net funds                                         (1,436)      987

Net funds at 1st May, 2004                                     2,195     1,208
__________________________________________________________    _______    _______

Net funds at 30th April, 2005                                    759     2,195
__________________________________________________________    _______    _______

Analysis of net funds
                                                    Other non-cash
                             2004     Cash flows         movements        2005
                             £000           £000              £000        £000
Cash at bank and in hand    2,919         (1,906)                -       1,013
Bank loans                   (500)           333                 -        (167)
Finance leases and hire
purchase contracts           (224)           147               (10)        (87)
                           _______      ________           ________    ________

Net funds at 
30th April, 2005            2,195         (1,426)              (10)        759
                           _______      ________           ________    ________

Movements in reserves and reconciliation of movements in shareholders' funds
Movements in reserves are as follows:

                                   Capital                                                  Profit
                        Share   redemption   Revaluation      Other    Special      Own   and loss     2005     2004
                      capital      reserve       reserve   reserves   reserves   Shares    account    Total    Total
                         £000         £000          £000       £000       £000     £000       £000     £000     £000
At 1st May, 2004 as
previously reported     2,096          645         1,853      3,959      1,629        -      3,717   13,899   13,697

Prior year adjustment*      -            -             -          -          -     (738)         -     (738)    (731)
_____________________  ______      _______        _______    _______    ______    ______    ______   ______   _______
                        2,096          645         1,853      3,959      1,629     (738)     3,717   13,161   12,966
Profit attributable
to members                  -            -             -          -          -        -      2,282    2,282      924

Dividends                   -            -             -          -          -        -       (364)    (364)    (325)
Foreign exchange
adjustments in
retranslation of
overseas investments        -            -             -          8          -        -          -        8      (43)
Repurchase of shares     (210)         210             -          -          -        -     (1,325)  (1,325)    (354)
Movement in own shares      -            -             -          -          -        -          -        -       (7)
_____________________  ______      _______        _______    _______    ______    ______    ______   ______   _______

At 30th April, 2005     1,886          855         1,853      3,967      1,629     (738)     4,310   13,762   13,161
_____________________  ______      _______        _______    _______    ______    ______    ______   ______   _______

* Own shares held in our ESOP trust are now recognised as a deductions from shareholders' funds. Previously own shares 
were held as a fixed asset investment. There is no impact on the profit for the Group for the current year or the prior 
year as a result of the change in accounting policy.



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