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Greenchip Investment (XEN)

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Friday 28 September, 2001

Greenchip Investment

Interim Results

Greenchip Investments  PLC
28 September 2001


Interim Statement

The Company announces an interim loss of £502,103 for the six months ending 30
June 2001 (18 months to 31 December 2000 £3,090,101) and the loss per share
was 1.73p (18 months to 31 December 2000 loss of 12.15p). The Board has not
recommended the payment of an interim dividend.

In the last Annual Accounts, the company announced that the Board had decided
to fundamentally redress company strategy and significantly reduce its cost
base.  By the end of June 2001, a number of directors had left the company and
the overhead costs of the company had been reduced considerably.

The remaining directors have been examining opportunities with a view to
restoring value for Greenchip shareholders.

In this regard, the Company is currently progressing Reverse Takeover
negotiations with Programmable Life Inc, as previously announced. Further
information will be issued in due course.

By order of the board

M A Burne
Chief Executive Officer

Dated:  28 September 2001

                         GREENCHIP INVESTMENTS PLC


We expect to report on the interim financial information as follows:-



We have been instructed by the company to review the financial information set
out on pages 3 to 6 and we have read the other information contained in the
interim report and considered whether it contains any apparent misstatements
or material inconsistencies with the financial information.

Directors' Responsibilities

The interim report, including financial information contained therein, is the
responsibility of and has been approved by the directors.  The directors
confirm that  the accounting policies and presentation applied to the interim
figures are consistent with those applied in preparing the preceding annual
accounts except where any changes, and the reasons for them, are disclosed.

Review Work Performed

We  conducted our review in accordance with guidance contained in Bulletin
1999/4 'Review of Interim Financial Information' issued by the Auditing
Practices Board. A review consists principally of making enquiries of
management and applying analytical procedures to the financial information and
underlying financial data and, based thereon, assessing whether the accounting
policies and presentation have been consistently applied unless otherwise
disclosed.  A review excludes audit procedures such as tests of controls and
verification of assets, liabilities and transactions.  It is substantially
less in scope than an audit performed in accordance with Auditing Standards
and therefore provides a lower level of assurance than an audit.  Accordingly,
we do not express an audit opinion on the financial information.

Review Conclusion

On the basis of our review we are not aware of any material modifications that
should be made to the financial information as presented for the six months
ended 30 JUNE 2001.




Date:   28 September 2001

                          GREENCHIP INVESTMENTS PLC


                        Six months ended 30 June 2001

                                                  6 Months          18 Months 
                                                to 30/06/01       to 31/12/00 
                                                          £                 £ 

  Turnover - continuing operations                      129             2,902 
  Cost of sales                                    (12,529)          (13,032) 
                                                   --------         --------- 
  Gross loss                                       (12,400)          (10,130) 
                                                   --------         --------- 
  Distribution costs                                      -           (5,940) 
  Administrative expenses                         (471,505)       (1,666,186) 
                                               ------------        ---------- 
                                                  (471,505)       (1,672,126) 
                                               ------------        ---------- 
  Continuing business:                                                        
  Operating loss before - exceptional items       (471,505)       (1,109,027) 
  European distribution rights                            -         (262,500) 
  AIM admission costs                                     -         (110,729) 
  Strategic alliance costs                                -         (200,000) 
  Operating loss - continuing operations          (483,905)       (1,682,256) 
  Loss on disposal of investment                          -       (1,365,000) 
  Provision against investments                    (48,803)         (130,159) 
  Interest receivable                                32,648            90,022 
  Interest payable on hire purchase                 (2,043)           (2,708) 
                                                 ----------       ----------- 
  Loss for the financial period                 £ (502,103)     £ (3,090,101) 
                                                     ======            ====== 
  Loss per ordinary share - basic                   (1.73)p          (12.15)p 
                                                     ======           ======= 

There were no recognised gains or losses other than the loss for the current
and previous period.

                          GREENCHIP INVESTMENTS PLC


                                      30/06/01                       31/12/00
                     £                   £                £              £

Intangible assets                      -                                 -
Tangible assets                   18,033                            54,164
Investments                       32,442                            81,245

                              ----------                        ------------

                                  50,475                           135,409

Stocks               -                               12,530
Debtors         26,031                              105,437

Cash at bank
 and in hand 1,134,958                            1,510,486

           ------------                         -----------

             1,160,989                            1,628,453

falling due within 
one year      (115,815)                            (157,435)

             ----------                           ----------

NET CURRENT ASSETS               1,045,174                        1,471,018

                              ------------                       ----------

LIABILITIES                      1,095,649                        1,606,427

CREDITORS: Amounts falling
due after more
than one year                     (19,040)                          (27,715)

                              ------------                        ----------

                                £1,076,609                        £1,578,712

                                    ======                           ======


Called up share capital            290,316                           290,316

Share premium account            4,354,915                         4,354,915

Profit and loss account        (3,568,622)                       (3,066,519)

                                ----------                        ------------

EQUITY SHAREHOLDERS' FUNDS      £1,076,609                         £1,578,712

                                    ======                            =======

                           GREENCHIP INVESTMENTS PLC


                        Six months ended 30 June 2001

                                      30/06/01                         31/12/00
                      £                   £                £                 £

Net cash (outflow) from operating  
activities                         (405,637)                           (919,716)

Returns on investments and
servicing of finance

Interest receivable   32,648                           90,022

Interest payable 
on hire purchase 
contracts             (2,043)                          (2,708)

                  ----------                         ---------

Net cash inflow/(outflow) from returns on
investment and servicing
of finance                          30,605                               87,314

Capital expenditure and financial investment

Payments to acquire
 tangible fixed 
assets                 (647)                          (34,376)

Payments to acquire
 investments              -                          (210,404)

Proceeds from disposal
 of tangible
    fixed assets       8,825                            4,000

Proceeds from sale
of investments            -                           735,000

                 -------------                     -----------

Net cash inflow/(outflow) from
  investing activities              8,178                               494,220

                             -------------                           -----------

Net cash outflow 
before financing                 (366,854)                            (338,182)

Issue of ordinary
share capital             -                         1,922,806

Repayment of capital 
element of
hire purchase
contracts            (8,675)                          (12,888)

Repayment of long 
term directors' loans      -                          (61,770)

                   --------------                    ----------

Net cash inflow/
financing                           (8,675)                           1,848,148

                                -----------                           ---------

Increase/(Decrease) in cash
resources                       £ (375,529)                          £1,509,966
                                    =======                              ======

                          GREENCHIP INVESTMENTS  PLC

                        NOTES TO THE INTERIM ACCOUNTS

                         Six months ended 30 June 2001

1          The calculation of loss per share is based on the loss after tax of
           £502,103.  (Period ended 31 December 2000 loss - £3,090,101) and on  
           the number of shares in issue being the adjusted weighted average    
           number of shares in issue during the period of 29,031,597 Ordinary 1p
           shares (Period ended 31 December 2000 - 25,441,355 ordinary 1p       

2          The interim statement for the six months ended 30 June 2001 is
           unaudited and was approved by the Directors on  28 September 2001.   
           The financial information set out above does not constitute statutory
           accounts within the meaning of s.240 of the Companies Act 1985.  The 
           information given as comparative figures for the period ended 31     
           December 2000 was extracted from the company's statutory accounts for
           that financial period which have been reported on by the company's   
           auditors and delivered to the Registrar of Companies.  The report of 
           the auditors was unqualified.

3          The accounting policies remain as stated in the Annual Report for
           the period ended 31 December 2000.

4          Copies of the Interim Report are available to the public
           free of charge from the company at 138 Park Lane, London W1K 7AS     
           during normal office hours, Saturdays, Sundays and bank holidays     
           excepted, for 14 days from today.

a d v e r t i s e m e n t