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Access Intelligence (ACC)

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Friday 27 February, 2004

Access Intelligence

Interim Results

Access Intelligence PLC
27 February 2004


ACCESS INTELLIGENCE PLC
CHAIRMAN'S STATEMENT

UNAUDITED INTERIM RESULTS
Period from 13 June 2003 to 30 November 2003


Results

During its first trading period, the group has incurred a loss of £26,000 due to
initial consultancy and administration charges. On 28 November we acquired the
issued share capital of Readco 261 Limited, which had three operating
subsidiaries, The Marketing Guild Limited, Wired Gov Limited and Back up and
Running plc. All three businesses provide services on a subscription basis to
small and medium sized businesses.


Outlook

In the first trading months of the year the group has started several new
initiatives, which should increase subscription and other revenues.

In the Marketing Guild we have launched a Platinum Plus service to our
membership base, which provides a higher level of service and support. This
should enhance income and also improve retention rates

In Wired Gov we have signed two agreements, one to make our information
available to an international subscriber base and the other to sell advertising
on the Web Site. It is too early to measure the success, however, we are
optimistic that both contracts will yield strong revenue

In Back up and Running we have relaunched the service to our reseller network
and increased our technical support.

We continue to look for other acquisitions that will expand our subscriber base
and increase cross-selling opportunities


Ian Savage
Chairman
27 February 2004


Background note:

Access Intelligence has three operating subsidiaries:

  • The Marketing Guild which provides marketing advice and support to small
    and medium sized businesses.  This is in the form of newsletters,
    consultancy, lead generation and members services.

  • Wired Gov provides an online information service delivering press releases
    from over 100 government and public sector bodies.  Subscribers can
    customize the service specifying the agency or topic they require.

  • Backup and Running plc provides an online data storage and disaster
    recovery service which the client can customize to their own requirements.
    The service offers significant advantages over other alternative systems in
    that it backs up automatically and can provide a complete backup history for
    at least three years.

All companies operate on a subscription basis and the group intends to focus on
the revenue method as a solid platform growth both organically and by
acquisition.


ACCESS INTELLIGENCE PLC
CONSOLIDATED PROFIT AND LOSS ACCOUNT
for the period 13 June 2003 to 30 November 2003

                                                                                                 Unaudited
                                                                                                    Period
                                                                                      13/06/03 to 30/11/03
                                                                                                     £'000

Turnover

Continuing operations                                                                                    0

Operating loss

Continuing operations                                                                                   29


Loss on ordinary activities before interest                                                             29

Interest receivable                                                                                    (3)

Loss before taxation                                                                                    26

Taxation                                                                                                 0

Loss after taxation                                                                                     26

Dividends                                                                                                0

Retained loss in period                                                                                 26

Earnings / (Loss) per share
Basic and diluted                                                                                   (0.1p)




ACCESS INTELLIGENCE PLC
CONSOLIDATED BALANCE SHEET
at 30 November 2003

                                                                                               Unaudited
                                                                                                30/11/03
                                                                                                   £'000
Fixed assets
Goodwill                                                                                            2502
Tangible assets                                                                                      105
                                                                                                    2607

Current assets
Debtors                                                                 40
Cash at bank                                                           681
                                                                       721


Creditors falling due within one year                                (448)

Net current assets                                                                                   273

Total assets less current liabilities                                                              2,880

Creditors falling due after one year                                                               (210)

                                                                                                   2,670
Capital and reserves
Called up share capital                                                                              367
Share premium account                                                                              2,329
Profit and loss account                                                                             (26)

Equity shareholders' funds                                                                         2,670




ACCESS INTELLIGENCE PLC
CONSOLIDATED CASHFLOW STATEMENT
for the period 13 June 2003 to 30 November 2003

                                                                                            Unaudited
                                                                                               Period
                                                                                          13/06/03 to 
                                                                                             30/11/03
                                                                                    £'000       £'000
Operating loss
                                                                                                 (26)
Movement in working capital                                                                       136


Net cash inflow from operating activities                                                         110


Purchase of subsidiary undertaking, expenses and flotation expenses                (1930)
Overdraft, net of cash, acquired with subsidiary undertaking                        (195)

Net cash outflow from acquisitions and disposals                                               (2125)

Net cash outflow before use of liquid resources and financing                                  (2015)

Issue of ordinary share capital net of redemption                                   2,696

Net cash inflow from financing                                                                   2696

Increase in cash in period                                                                        681

Analysis of net funds

Cash at bank and in hand                                                                          691
Overdraft                                                                                        (10)

                                                                                                  681

Debt repayable by instalments:
Due within one year                                                                  (56)
Due after more than one year                                                        (210)
                                                                                                (266)

                                                                                                  415



Non-cash transaction

In November 2003, the Group acquired the whole of the issued share capital of
Readco 261 Limited. The consideration of £1,682,749 was satisfied by the issue
of ordinary shares in the Company.




ACCESS INTELLIGENCE PLC
UNAUDITED INTERIM ACCOUNTS
for the period 13 June 2003 to 30 November 2003


Notes

1.   The company was incorporated in June 2003 and, therefore, there are no 
     comparative figures for the previous period.

2.   The results are unaudited and they do not constitute statutory accounts 
     within the meaning of Section 240 of the Companies Act 1985.

3.   The calculation of earnings per share for the period is based on the loss 
     after taxation divided by the average weighted number of ordinary shares in 
     issue being 28,253,378



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