Interim Results - Replacement

Numis Corporation PLC
9 May 2000

The Interim Results announcement for Numis Corporation PLC released today at
07.01 under RNS No 2297k has been re-released to facilitate onward transmission
by third party vendors. 

The full announcement remains unchanged and is reproduced below.

NUMIS CORPORATION PLC
(formerly Raphael Zorn Hemsley Holdings PLC)

Interim results for six months to 31 March 2000 
Financial Highlights

                                      31 March 2000              31 March 1999
                           
Profit before tax and before
exceptional gain                              £2.5m                      £0.1m
                                      
Profit before tax and after
exceptional gain                              £4.6m                      £0.1m

Key events during the period under review:

-  A rise in profit before tax and exceptional gain to £2.5 million for the   
   six months to 31 March 2000
-  The sale of the investment management and private client stockbroking      
   businesses
-  The change of the Company's name to Numis Corporation Plc
-  £50 million raised for Tenon Group Plc, the first UK quoted                
   accountancy-based securities company
-  The successful extension of the Company's areas of expertise into the      
   technology sector

Commenting on the results Oliver Hemsley, Chief Executive of Numis, the
AIM-listed investment banking and stockbroking group, said:

'I am pleased to report a successful first half fuelled by strong growth in
corporate finance activity that reflects our successful strategy of focusing
on a wider range of specialist sectors together with an investment in
recruitment and infrastructure.

I believe that as an independent investment banking business, Numis provides
an attractive environment for both clients and executives alike.' 

For Further information please contact: - 

Oliver Hemsley
Chief Executive
Numis Corporation
020 7776 1500

Sarah Bagnall
Citigate Dewe Rogerson
020 7282 2939


CHAIRMAN'S STATEMENT

In the six months to 31 March 2000, the Company reported a profit before tax
and before exceptional gain of £2.5m (compared with £0.1m for the six months
to 31 March 1999).  I am pleased to report such an excellent result,
reflecting improved performances across our ongoing business of investment
banking focused on the financial services and technology sectors. 

Key events during this period were as follows:

-  A rise in profit before tax and exceptional gain to £2.5 million for the   
   six months to 31 March 2000
-  The sale of the investment management and private client stockbroking      
   businesses
-  The change of the Company's name to Numis Corporation Plc
-  £50 million raised for Tenon Group Plc, the first UK quoted                
   accountancy-based services company
-  The successful extension of the Company's areas of expertise into the      
   technology sector

Sale of the private client business

On 28 March 2000 the Group announced the sale to Savoy Asset Management Plc of
the Group's investment management and private client stockbroking businesses. 
The sale was completed on 28 April 2000.

As a result of the sale, the Group is now able to concentrate on its core
activities of corporate finance, institutional sales and research and market
making.  It is the board's intention to employ the sale proceeds in making
investments in its specialist areas of expertise and in recruiting further
high quality staff to enhance the Group's development.

Name Change

In disposing of the private client business, the Group has now severed its
links with the 'Raphael' and 'Zorn' names and the Group's activities have been
rebranded under the name of 'Numis'.  The name change became effective on 2
May 2000.

The flotation of Tenon Group Plc

In March 2000, Tenon Group Plc was admitted to the Alternative Investment
Market of the London Stock Exchange.  This company is intended to become a
broadly based business services group by the acquisition of small to medium
sized accountancy practices.  It is the first company of its kind to attain a
Stock Exchange quotation.  The Group raised £50 million for the company on
flotation and Numis Securities Ltd is the company's nominated adviser and
broker.
 
Moving into the Technology Sector

As announced in March 2000, the Group has extended its specialisms to include
the technology sector.  Since then, the Group has been involved in the
flotation of two companies in this sector.  The Group raised in excess of £15
million in aggregate for the companies concerned.  In addition, the Group has
recently made an investment in a service company providing e-commerce
solutions.  Further recruitment and investment is planned to develop the
Group's specialisation in this area.

Outlook

The Group has made an encouraging start to the second half but it is too early
to determine whether the strong first half performance will be repeated in the
second half.  We are acutely aware of the need to recruit and retain staff of
the highest calibre to develop the Group's business; recruitment initiatives,
in all areas are under way.  We also continue to look at new areas in which to
invest and new investment opportunities to take.  With the Group now able to
concentrate its resources entirely on its core activities, we remain
optimistic for the future.

Consolidated profit and loss account
Unaudited result for the first half year ended 31 March 2000

                              Six months          Six months        Year ended
                                  ended           Year ended      30 September
                           31 March 2000   30 September 1999              1999
                               Unaudited             Audited           Audited
                                       £                   £                 £
Turnover
Continuing operations          5,016,782          1,268,210          4,385,926
Discontinued operations        2,000,057          1,471,982          3,069,972
                               7,016,839          2,740,192          7,455,898

Discontinued operations                
- shared commissions            (406,454)          (314,845)         (821,025)

Gross profit                   6,610,385          2,425,347          6,634,873

Administrative expenses       (4,309,651)        (2,548,995)       (5,837,355)
Share of associate's operating
profit/(loss)                    102,411             25,034             49,877
       
Operating profit/(loss)                                   
Continuing operations          2,454,558            128,358          1,576,159
Discontinued operations          (51,413)          (226,972)         (728,764)
                               2,403,145            (98,614)           847,395
Discontinued operations 
Exceptional item               
- profit on sale of
discontinued operations        2,025,000                  -                  -
Interest income                  107,553             112,645           205,058
Investment income                 33,180              79,154           166,665
Interest expense                  (4,584)             (5,747)          (6,736)
   
Profit on ordinary activities
before taxation                4,564,294              87,438         1,212,382
Tax on profit on ordinary
activities                    (1,243,352)            (29,247)        (395,598)
     
Profit on ordinary activities
after taxation                 3,320,942              58,191           816,784
Dividends paid and proposed            -                   -         (447,780)

Retained profit for the
financial period               3,320,942              58,191           369,004
   
Earnings per share
- basic                             22.6p               0.4p              5.5p
- diluted                           22.2p               0.4p              5.5p

Earnings per share,
pre-exceptional item
- basic                             11.8p               0.4p              5.5p
- diluted                           11.6p               0.4p              5.5p
Average number of shares
in issue                      14,705,000         14,809,000         14,808,167


Consolidated balance sheet
Unaudited as at 31 March 2000

                           31 March 2000      31 March 1999  30 September 1999
                               Unaudited          Unaudited            Audited
                                       £                  £                  £
                                 
Fixed Assets                      
Tangible fixed assets            197,652             704,188           607,487
Fixed asset investments          592,222             109,000           113,162
Investment in associate          
undertaking                      123,968              37,911            52,280
                                 913,842             851,099           772,929

Current assets
Debtors                       20,474,195           7,186,200         8,765,158
Investments                    3,158,612           4,012,004         3,477,403
Cash at bank and in hand       2,074,374           4,502,644         5,238,020
                              25,707,181          15,700,848        17,480,581
Creditors
Amounts falling due within
one year                     (14,376,218)         (7,962,897)      (9,335,647)

Net current assets            11,330,963           7,737,951         8,144,934
   
Net assets                    12,244,805           8,589,050         8,917,863
       
Capital and reserves
Share capital                  3,736,500           3,716,500         3,731,500
Share premium account          3,014,625           3,010,625         3,013,625
Profit and loss account        5,493,680           1,861,925         2,172,738

Shareholders funds            12,244,805           8,589,050         8,917,863
       
  
Notes:

1. Name change

Raphael Zorn Hemsley Holdings PLC changed its name to Numis Corporation Plc
('the Company') on 2 May 2000.

2. Accounting policies

The accounting policies that have been applied to the unaudited results are
consistent with the latest published audited accounts except that the
depreciation method on tangible fixed assets has changed from a reducing
balance method at an annual rate of 25% to a straight line method.  Under the
straight line method, depreciation is provided to write off the cost, less
estimated residual values, of tangible fixed assets over their expected useful
lives, as follows:

Computer equipment              3 years
Motor vehicles                  4 years
Office equipment                5 years

The change in depreciation method has resulted in an additional charge of
£328,859 to the profit and loss account in the period.  Comparative results
have not been restated.

3. Accounting presentation

The Company has provided for discretionary bonuses of £1,088,269 within
administrative expenses.  This is a change in the presentation of the results
and the comparative results have not been restated.

4. Discontinued operations

On 27 March 2000 the Company exchanged contracts with Savoy Asset Management
Plc for the sale of its investment management subsidiary, Raphael Asset
Management Ltd, together with the transfer of certain parts of its private
client stockbroking function from its investment banking and capital markets
subsidiary, Raphael Zorn Hemsley Ltd. Raphael Zorn Hemsley Ltd changed its
name to Numis Securities Ltd on 2 May 2000.

The profit on sale of the discontinued operations is £2,025,000 and the effect
of the discontinuance on taxation is £442,350. 

5. Earnings per share

Basic earnings per share is based on profit on ordinary activities after
taxation of £3,320,942 that has been adjusted to £3,314,432 to remove
dividends from shares held in the Employee Share Option Trust.  Diluted
earnings per share assumes that options outstanding at 31 March 2000 were
exercised at 1 October 1999, where the exercise price per share is less than
the fair value of the price of the share in the period.

6. Earnings per share, pre-exceptional item

Basic earnings per share is based on profit on ordinary activities after
taxation of £3,320,942 that has been adjusted to £1,731,782 to remove the
exceptional item and dividends from shares held in the Employee Share Option
Trust. Diluted earnings per share assumes that options outstanding at 31 March
2000 were exercised at 1 October 1999, where the exercise price per share is
less than the fair value of the price of the share in the period.

7. Audited results

The audited results for the year ended 30 September 1999 are an extract from
the latest published audited accounts and do not constitute the statutory
accounts as defined in Section 240 of the Companies Act 1985.  The published
audited accounts have been delivered to the Registrar of Companies and
included the report of the auditors that was unqualified.

8.  No dividend is proposed to be paid at this time.

9.  A copy of the Interim Results is due to be sent to all shareholders on or
about 15 May 2000.  Copies of this announcement are available, free of charge,
from the Company's Nominated Adviser:

Noble & Company Limited
4th Floor
1 Frederick's Place
London
EC2R 8AB
Tel:  [phone]

Management and administration

Directors
D J A Craig* (Chairman)
O A Hemsley (Chief Executive)
C A Crick
T J Leader
D B J Sweetland (Finance Director)
P Gaunt*
M J Sinclair*

*Non-executive Director

Nominated broker
Numis Securities Limited
Cheapside House
138 Cheapside
London  EC2V 6LH

Nominated adviser
Noble & Company Limited
4th Floor
1 Frederick's Place
London
EC2R 8AB

Registrar
Computershare Services plc
PO Box 82
Caxton House
Redcliffe Way
Bristol  BS99 7NH       

Auditors
Pannell Kerr Forster
New Garden House
78 Hatton Garden
London  EC1N 8JA

Bankers
National Westminster Bank PLC
1 Princes Street
London  EC2R 8PH

Secretary and registered office
D B J Sweetland
Numis Corporation Plc
Cheapside House
138 Cheapside 
London  EC2V 6LH

Company registration number
2375296