Interim Results

NMT Group PLC
26 September 2001

                                                           26 September 2001

                                NMT GROUP PLC

            Interim Results For The Six Months Ended 30 June 2001

NMT Group, the manufacturer of retractable devices to prevent needlestick
injury, announces its interim results for the six months ended 30 June 2001.

Announced today
*         Further distribution contract win with a major US hospital purchasing 
          organisation, Broadlane Inc.
*         Outstanding patent infringement litigation in US successfully resolved

Business Update
*         3cc manufacturing problems have been resolved
*         Progress made towards resolving 1cc manufacturing issues, with
          further improvements expected
*         Lack of 1cc capacity hindering sales growth
*         Distribution contract win with Allegiance announced in mid
          September
*         Safety IV Catheter to be launched October, giving NMT a broad
          portfolio of safety products
*         Strengthened sales and marketing team in the US

Commenting on the results, Roy Smith, Chief Executive Officer, said:

'I am pleased to inform shareholders that we believe the manufacturing issues
on our 3cc range have been resolved and we have the capacity to move to high
volume production.  Whilst there remain some issues to be resolved on
commercial production of our 1cc range, with consequentially slower sales
growth, we are confident of making significant progress during the final
quarter.'

'We have now gained distribution contracts with a number of the leading US
hospital suppliers and once the 1cc manufacturing issues are fully resolved we
expect to see substantial sales growth.'

Enquiries:

NMT Group PLC
Roy Smith, Chief Executive Officer                  Tel: [phone]
Gerard Cassels, Finance Director                    Tel: [phone]


Financial Dynamics                                  Tel: [phone]
David Yates/Fiona Noblet

CHAIRMAN'S STATEMENT

At the Company's Annual General Meeting, I focused shareholders' attention on
the two key challenges critical to success, firstly the ability to offer our
customers a broad range of safety syringe products, and secondly to achieve
significant market penetration in the US. During the first six months of 2001,
I am pleased to report that considerable progress across the Group has been
achieved.

Manufacturing

The latest 3cc assembly line, Sortimat 3, which was delivered during April,
has proved to be a major success. This line will represent the benchmark for
future manufacturing investment. We have continued to demonstrate increases in
output across our other 3cc production lines, the technology developments
within Sortimat 3 have now been incorporated into Sortimat 2, and continued
improvement is expected.

The Group has experienced difficulties in increasing output levels with the
Mikron 1cc assembly line.  NMT's engineers continue to work with the original
equipment manufacturers' staff to refine the assembly process and progressive
improvement is expected during the coming months.

The shortage of 1cc syringe manufacturing capacity is presently the critical
issue facing the Group.

Sales and Marketing

We have recently appointed a new management team in the US, led by Steve Czick
who has 25 years' experience of the US medical devices industry with Johnson &
Johnson.  The positive impact of this new team is now becoming evident.

We announced earlier this month that NMT has been awarded a contract by one of
the leading US hospital supply groups, Allegiance, and we are pleased to
announce today that we have won a further contract with another hospital group
purchasing organisation, Broadlane Inc., formally the corporate procurement
division of Tenet Healthcare  These contracts give us confidence that we are
able to win business from the major hospital groups and will provide the
platform for sales growth into next year.  Whilst implementation of safety
legislation in the US has been slower than anticipated, the commercial
opportunity remains exceptional.

In addition to the contracts that we have won in the US, it is pleasing to
note that the UK and international markets are showing considerable interest
in our products, with increasing sales being witnessed.

Progress also continues to be made in providing a broader portfolio of safety
devices.  The Vaxess Safety IV Catheter, for the European market, will be
launched next month.  Our initial order book for this product is most
encouraging and a significant contribution to the Group's 2002 performance is
expected.

Product Development

Our patent portfolio continues to expand.  We recognise the need to develop a
second-generation of safety syringe products providing greater flexibility to
switch between needle sizes and have made considerable progress in this
technology.

Litigation

The Group is pleased to announce that it has settled its patent dispute with
Syringe Development Partners LLC and MedSafe Technologies LLC.  We have always
been convinced of the strength of our case and were fully prepared to take the
matter all the way to a final hearing.  However, settlement at this stage, on
favourable terms and for a relatively modest sum, is clearly in NMT's
interest, as it removes a distraction and enables the Group to concentrate on
its business at a key time for manufacturing scale up and product roll out.

Management

I am pleased to welcome Gerard Cassels to the Board, as Group Finance
Director, effective August 2001.  Gerard brings a wealth of experience to NMT,
both in corporate finance and PLC executive responsibilities.  Moreover, his
appointment has released Tony Fletcher, Chief Operating Officer, to provide
greater focus on operational issues with a particular emphasis on 1cc
manufacturing challenges.

Outlook

The lack of a 1cc product in the sales portfolio coupled with slower than
anticipated adoption of the US Needlestick Safety and Prevention Act has
hindered sales growth.  Many prospective customers are delaying evaluation of
our syringes until a full range of sizes is available in commercial
quantities.  As a result, sales are anticipated to be below expectations for
the year.

Whilst significant sales growth is anticipated, its overall increase will be
determined by the availability of 1cc syringes, although we expect the issues
in the 1cc syringe Mikron assembly equipment to become progressively resolved.

This time last year, I anticipated that the Group would be generating a
positive cash flow during the first half of 2002. We are now projecting that
this will not occur until the end of 2002.  In order to meet ongoing
operational funding requirements during 2002 and to further develop the
business, we are reviewing the options for raising necessary additional funds
with the Group's financial advisers.  In light of these discussions, the
Directors believe that further funds can be raised given the current position
of the business.

Management has made significant progress in achieving a number of objectives
during the period. I firmly believe that the business opportunity remains
undiminished and the present issues are ones of timing.  With the recent
senior additions to NMT's management team, the Group has the appropriate
expertise to deliver the planned business strategy.  There is increasing
evidence our products are finding a favourable reception in the market and I
look forward to reporting news of further progress.


Roger Gilmour
Chairman
26 September 2001



NMT Group PLC INTERIM 2001
CONSOLIDATED PROFIT AND LOSS ACCOUNT

                                                   Unaudited Unaudited  Audited
                                                     Interim   Interim Full year
                                                        2001      2000     2000
                                                       £'000     £'000    £'000
                                                       _____     _____    _____
                                                                          
Turnover                                                 393        82      441

                                                       _____     _____    _____
Operating loss -
Trading activities                                   (6,801)   (4,728) (10,676)
Exceptional items
-        Restructuring costs                               -   (1,061)  (1,299)
-        Impairment of intangible assets                   -   (1,731)  (1,731)

                                                       _____     _____    _____
Group operating loss                                 (6,801)   (7,520) (13,706)
                                                       _____     _____    _____
Interest receivable                                      390       162      733
Interest payable                                        (80)     (108)    (254)

                                                       _____     _____    _____
Loss on ordinary activities before and after
taxation                                             (6,491)   (7,466) (13,227)
Loss per share - pence                                 (2.8)    (11.8)    (8.8)


NMT Group PLC INTERIM 2001
CONSOLIDATED BALANCE SHEET

                                                   Unaudited Unaudited  Audited
                                                     Interim   Interim Full year
                                                     30 June   30 June   31 Dec
                                                        2001      2000     2000
                                                       £'000     £'000    £'000
                                                       _____     _____    _____
                                                                          
Fixed assets
Tangible assets                                       10,868     8,177    9,940

                                                       _____     _____    _____
Current assets
Stock                                                  1,596       673      960
Debtors                                                  728       433      729
Cash                                                  10,477     1,797   19,930

                                                       _____     _____    _____
                                                      12,801     3,338   21,619

                                                       _____     _____    _____
Creditors: amounts falling due within one year       (2,067)   (1,807)  (3,328)

                                                       _____     _____    _____
Net current assets                                    10,734     1,531   18,291

                                                       _____     _____    _____
Total assets less current liabilities                 21,602     9,708   28,231

                                                       _____     _____    _____
Creditors: amounts falling due after more than one
year                                                 (1,393)   (1,753)  (1,661)
                                                     
                                                       _____     _____    _____
Net assets                                            20,209     7,955   26,570
Capital and reserves

Called up share capital                               11,708     3,220   11,708
Share premium account                                 39,949    24,320   39,949
Profit and loss account                             (31,448)  (19,585) (25,087)
Total equity shareholders' funds                      20,209     7,955   26,570



NMT Group PLC INTERIM 2001
CONSOLIDATED CASHFLOW

                                                   Unaudited Unaudited  Audited
                                                     Interim   Interim Full year
                                                        2001      2000     2000
                                                       £'000     £'000    £'000
                                                       _____     _____   _____
                                                                          
Reconciliation of operating loss to net
cash outflow from operating activities:
Loss before interest                                 (6,801)   (7,520) (13,706)
Depreciation charges                                     626       428    1,065
Loss on sale of tangible fixed assets                      -       460       41
Impairment of intangible fixed assets                      -     1,731    1,731
Exchange adjustments                                    (66)         -     (41)
Share options - application of UITF 17                   196         -      440
Gain on share options                                      -       140        -
(Increase)/decrease in working capital               (1,434)      (35)      838

                                                       _____     _____    _____
Net cash outflow from operating activities           (7,479)   (4,796)  (9,632)

                                                       _____     _____    _____
Consolidated cash flow statement
Net cash outflow from operating activities           (7,479)   (4,796)  (9,632)
Interest received (net)                                  314        95      443
Capital expenditure                                  (2,012)   (1,127)  (2,523)

                                                       _____     _____    _____
Net cash outflow before management of                (9,177)   (5,828) (11,712)
liquidresources and financing
Management of liquid resources                        10,434     6,500 (11,934)
Net cash inflow/(outflow) from financing               (276)   (1,243)   22,774

                                                       _____     _____    _____
Increase/(decrease) in cash                              981     (571)    (872)

                                                       _____     _____    _____
Reconciliation of net cashflow to movement in net
funds
Increase/(decrease) in cash                              981     (571)    (872)
Repayment of loan                                          -     1,500    1,500
Cashflow from finance leases-lease additions               -         -  (1,572)
Cashflow from finance leases-repayment of                276       228      457
principle
Cash (inflow)/outflow from management of liquid     (10,434)   (6,500)   11,934
resources
                                                       _____     _____    _____
Increase/(decrease) in net funds in period           (9,177)   (5,343)   11,447

Net funds at beginning of period                      17,725     6,278    6,278

                                                       _____     _____    _____
Net funds at end of period                             8,548       935   17,725

                                                       _____     _____    _____

Notes

1        BASIS OF PREPARATION

The financial information in this report does not comprise statutory accounts
for the purposes of Section 240 of the Companies Act 1985.

The interim accounts for the six months ended 30 June 2001 and six months
ended 30 June 2000, which are unaudited, have been prepared on the basis of
accounting policies consistent with those set out in the Company's full
accounts for the year ended 31 December 2000, which carried an unqualified
auditors' report and which have been filed with the Registrar of Companies.
The accounts for the year ended 31 December 2000 presented in this report are
an abridged version of the full accounts.

The Group projects that positive cashflow will not be generated until the end
of 2002.  In order to meet operational requirements during 2002 and to further
develop the business, the directors have been reviewing the options for
raising necessary additional funds with the Group's financial advisers.  In
light of these discussions, the directors believe that further funds can be
raised given the current position of the business.  On this basis the
directors consider it appropriate to prepare the financial statements on the
going concern basis without any adjustment.

The Group has no recognized gains or losses other than the losses above and
therefore no separate statement of total recognized gains and losses has been
prepared.

There is no difference between loss on ordinary activities before taxation and
the retained loss for the year stated above and their historical cost
equivalents.

2        TAXATION

As a result of tax losses brought forward there is anticipated to be no tax
charge or credit in the current year.

3        LOSS PER SHARE

The calculation of loss per share is based on the loss for the period
attributable to ordinary shareholders and on the average number of ordinary
shares in issue during the period, which totalled 234,158,819 shares (2000
interim - 63,516,000: full year - 150,148,591). As a loss has been incurred
during the six months ended 30 June 2001 there is no dilutive effect of
unexercised share options.