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Legendary Invest PLC (LEG)

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Monday 20 December, 2004

Legendary Invest PLC

Interim Results

Legendary Investments PLC
20 December 2004


                           LEGENDARY INVESTMENTS PLC

                         ('Legendary' or the 'Company')

      Unaudited Interim Results for the six months ended 30 September 2004

Highlights

• Overall net loss of £252,000 due in substantial part to the
  administration and consequent writedown of Legends Surf Shops Plc.
• Short term market opportunities, including treasury management, and
  medium term investments generated net profits of £212,000
• Cash and current asset investments rose by £245,000 to £1,464,000
• Operational efficiency achieved with administrative costs for the first
  half at £68,000

Chief Executive's Statement

Your Company continued to take advantage of short and medium term investment
opportunities. These investments, together with treasury management activities,
generated net profits of £212,000. In addition, your Company increased cash and
current asset investments by £245,000 to £1,464,000. Administrative costs were
pared down to £68,000 for the six month period to 30 September. These are
expected to be at similar levels for the second half. For the full year 2003
equivalent costs were £182,000.

The unfortunate administration of Legends Surf Shop Plc led to a writedown of
£387,500. Without this writedown your Company would have had a net profit of
£135,000. Nonetheless, your Company has greater liquidity with cash and current
asset investments having increased by £245,000 to £1,464,000.

We look forward to the future with confidence and while we search for
appropriate long term investments, we expect that our short and medium term
investments, including treasury management activities will continue to increase
liquidity and generate profits.

For further information:
Zafar Karim, Legendary Investments plc                    020 7887 1335
Sarah Wharry, Seymour Pierce                              020 7107 8000

PROFIT & LOSS

               Six months ended 30/9/ Year ended 31/3/   Six months ended 30/9/
               2004                   2004               2003
               Unaudited              Audited            Unaudited
               (£'000s)               (£'000s)           (£'000s)

Turnover         -                      -                  -
Direct costs     -                      -                  -
Gross loss       -                      -                  -
Administrative
expenses        -68                      -51               -66
Net
profit/(loss)
on investments -176                     -979                97
               _____                    ____              ____
Operating
profit/(loss)  -244                   -1,030                31
Interest
receivable        2                        3                 3
Interest
payable         -10                      -25                -2
               _____                   _____              _____
Loss on
ordinary
activities
before tax     -252                   -1,052                32
Tax               -                        -                 -
               _____                   _____              _____
Retained
profit/(loss)  -252                   -1,052                32
Basic
profit/(loss)
per ordinary
share (pence
per share)     -0.04                  -0.17               0.01
Fully diluted
profit/(loss)
(pence per
share)         -0.04                  -0.17               0.01

CASH FLOW STATEMENT

                                                 Six months ended   Year ended
                                                 30/09/2004         31/03/2004
                                                 unaudited          audited
                                                 (£'000s)           (£'000s)

Net cash outflow from operating activities           -81               -127
Returns on investments and servicing of
finance
Interest received                                      1                  3
Interest paid                                         -9                -25
                                                   _____              _____
                                                      -8                -22

Capital expenditure and financial investments
Payments to acquire fixed asset investments            0                -10
Payments to acquire current asset investments    -10,507            -30,654
Receipts from fixed asset investments                 58                481
Receipts from current asset investments           10,881             30,085
                                                  ______             ______
                                                     432                -98
                                                    ____             ______
Net cash outflow before investing activities         343               -247
Financing
Issue of shares                                        0                485
Directors loan                                      -300                410
                                                   _____             ______
                                                    -300                895
                                                   _____             ______
Increase/(Decrease) in cash                           43                648

BALANCE SHEET

                            As at 30/09/04   As at 31/03/04   As at 30/09/03
                            Unaudited        Audited          Unaudited
                            (£000s)          (£000s)          (£000s)

Tangible fixed assets                    0                0                1
Investments                            917            1,357            2,092
                                     _____            _____            _____
Tangible assets                        917            1,357            2,093

Current asset investments            1,009              807            4,787
Debtors                                 29               27               35
Cash at bank and in hand               455              412                0
                                     _____            _____            _____
                                     1,493            1,246            4,822
Creditors: amounts falling
due within one year                 -1,098           -1,039           -4,752
                                     _____            _____            _____
Net current
liabilities/assets                     395              207               70
                                      ____             ____             ____
Total assets less current
liabilities                          1,312            1,564            2,163

Called up share capital                628              628              532
Share premium account                8,270            8,270            7,881
Profit and loss account -
deficit                             -7,586           -7,334           -6,250
                                    ______            _____            _____
                                     1,312            1,564            2,163


Notes to the Interim Accounts

1. Accounting Policies

The accounts have been prepared in accordance with applicable accounting
standards under the historical cost accounting rules.

2. Basis of Preparation of Interim Financial Information

The financial information contained in this interim statement has not been
audited or reviewed by the Company's Auditors and does not constitute accounts
as defined by section 240 of the Companies Act 1985. The financial information
for the year ended 31 March 2004 is based on the statutory accounts for that
year. Those accounts, upon which the Company's Auditors issued an unqualified
opinion, have been delivered to the Registrar of Companies.

3. Earnings Per Share

The calculation of earnings per share is based on the profit after tax for the
financial period divided by the weighted average number of ordinary shares in
issue during the period.

4. Post Balance Sheet Events

There have been no significant post balance sheet events.

5. Interim Report

The interim report will be available on written application to the Company
Secretary, Legendary Investments Plc, 2nd Floor, Berkeley Square House, Berkeley
Square London W1J 6BD. This statement has not been subject to an audit.




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