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Knowledge Technology (ARC)

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Monday 12 March, 2007

Knowledge Technology

Interim Results

Knowledge Technology Solutions PLC
12 March 2007

RNS Release

12 March 2007



Knowledge Technology Solutions PLC (AIM: KTS), providers of market information
services in the finance sector, reports its unaudited results for the six months
ended 31 December 2006.

Financial and business highlights:
•    Turnover of £555,884 (2005: £720,278)

•    Group loss before tax of £580,283 (2005: £547,447)

•    Progressed new growth strategy, including developing MiFID* and
     MarketTerminal ON-SITE solutions

•    Raised £1.8 million from share placings to fund growth

•    Focused MarketTerminal on UK coverage only, reducing operating costs

* MiFID is the Markets in Financial Instruments Directive.  This important EU
directive is aimed at creating transparency throughout the European Union for
market participants dealing in securities and is expected to become law from 1
November 2007.

Dr Marc Pinter-Krainer, Chief Executive of Knowledge Technology Solutions, said:

'We have responded to the continued challenges in the highly competitive
financial information subscription services market by implementing a new growth
strategy complementing our MarketTerminal data service with MarketTerminal
ON-SITE for institutional clients and by addressing the opportunities arising
out of the introduction of MiFID.

'Although it is early days, we have been encouraged by the response our new
strategy and products have generated from prospective customers.'

Enquiries, please contact:

Dr Marc Pinter-Krainer             Knowledge Technology Solutions PLC            020 7256 2300
Barrie Newton                      Corporate Synergy Plc                         01225 424 666
Neil Boom/Laura Black              Gresham PR Ltd                                020 7404 9000

Chief Executive's review

In the six months ended 31 December 2006, KTS has built on the strength and
flexibility of the Company's technology to develop solutions that address the
requirements resulting from the forthcoming MiFID directive and the need for
investment banks to control and view data from many sources, both internal and
external. This will reduce the Company's dependency on revenues derived solely
from its market data subscription service, MarketTerminal, which addresses an
increasingly competitive marketplace.

MarketTerminal subscription business

As highlighted in previous statements, intense competition among vendors of UK
market data display applications has exerted pressure on turnover and profit
margins for our market data subscription service. As almost all revenues during
the period were derived from the MarketTerminal market data subscription
service, the continued competitive environment has contributed to an increase in
losses of £580,283 (2005: £547,447) and a fall in turnover to £555,884 (2006:

We are continuing to market our MarketTerminal service with new sales
initiatives, but have discontinued overseas exchange coverage with effect from 1
January 2007. The associated reduction in data costs has already started to take
effect in the current half of this financial year. Following negotiations with
our data suppliers, data cost reductions are expected to generate an estimated
net saving in excess of £220,000 per annum.


As part of the new strategy, a recent initiative has been the creation of
specific solutions which address the requirements directly arising from the
planned introduction of MiFID.

UK market participants will have requirements for MiFID specific solutions which
are wide-reaching, with a recent paper issued by the Financial Services
Authority (FSA) citing an estimated MiFID compliance cost impact on UK firms of
£1bn. Through our participation in MiFID implementation forums over the past 18
months and as a result of ongoing engagement with clients and partners, we
believe we have identified tangible opportunities among both the investment and
the securities' sales side of the financial marketplace.

These products, which are currently being specified and developed, are designed
to assist market participants with specific MiFID compliance solutions, whilst
enabling clients to secure the maximum business benefit beyond the initial
introduction of MiFID in November.

MarketTerminal ON-SITE

A further, separate part of our new strategy also leverages our proven
application technology to target new substantial growth opportunities. With the
recent introduction of MarketTerminal ON-SITE, we have a solution that addresses
the increasing need amongst global investment banks to create and deploy their
own customised viewing applications.

MarketTerminal ON-SITE uses the same proprietary technology platform as
MarketTerminal and integrates seamlessly with a bank's existing infrastructure.
It is designed to improve the interface between a bank's internally-originated
and derived information and the external data and prices sourced from a plethora
of third party suppliers. It is aimed at major international investment banks
operating in the City of London.

We have received encouraging feedback from a number of global investment banks
in response to MarketTerminal ON-SITE.  The banks have recognised its ability to
allow them control of their own data viewing application.  It also enables them
to benefit from the flexibility, reliability and potentially significant cost
reduction which can be achieved when a tailored version of our MarketTerminal
data display application is deployed within their organisation.

We are currently engaged in the evaluation and sales process with several large
institutions, including a global investment bank for which we have successfully
completed a 'proof of concept' initial installation of MarketTerminal ON-SITE.

Board Appointments

The recently announced appointment of two additional board directors, Richard
Last as Chairman and Louise Barton as a non-executive director, has resulted in
a stronger board that is able to take KTS through its next growth phase.


We have responded to the continued challenges in the highly competitive
financial information subscription services market by building on the strength
and flexibility of our technology to create new products and by taking
appropriate cost saving measures.

Organic growth should arise primarily from the new MiFID and MarketTerminal
ON-SITE initiatives and may be complemented with growth resulting from potential
selective acquisitions. However, significant revenues from these new initiatives
are not expected until the next financial year due to the long sales cycles when
supplying large-scale solutions to global financial institutions. As a result,
we do not expect a significant change in trading performance for the full year
compared to the previous year.

We are pleased to have successfully raised an additional £1.8 million in new
funds in the period. This is reflected in the cash balance at the end of the
period of £1.94 million and leaves us with a suitably strong balance sheet to
pursue the significant opportunities we have identified with prospective banks
and other financial institutions.

Although it is early days, we have been encouraged by the response our new
strategy and products have generated from prospective customers.

Marc Pinter-Krainer
Chief Executive
12 March 2007


                                                   Period ended          Period ended           Year ended
                                                    31 December           31 December              30 June
                                                           2006                  2005                 2006
                                                    (unaudited)           (unaudited)            (audited)
                                      Notes                   £                     £                    £

Turnover                                3               555,884               720,278            1,417,063
Distribution costs                                    (595,667)             (718,626)          (1,316,988)
Administrative costs                                  (553,873)             (583,210)          (1,170,498)

Operating loss                                        (596,356)             (581,558)          (1,070,423)
Interest receivable                                      16,073                34,111
Loss on ordinary activities
before taxation                                       (580,283)             (547,447)          (1,016,166)

Taxation on loss on ordinary
activities                              4                     -                     -                    -

Loss on ordinary activities
after taxation                                        (580,283)             (547,447)          (1,016,166)
Dividends                               5                     -                     -                    -

Retained loss                                         (580,283)             (547,447)          (1,016,166)

Basic earnings per
ordinary share                          6               (0.33)p               (0.37)p              (0.69)p

Diluted earnings per
ordinary share                          6               (0.33)p               (0.37)p              (0.69)p

All of the results relate to continuing operations.

There are no recognised gains and losses other than the loss for the period.


                                                                   As at              As at             As at
                                                             31 December        31 December           30 June
                                                                    2006               2005              2006
                                                             (unaudited)        (unaudited)         (audited)
                                             Notes                     £                  £                 £

Fixed assets
Tangible fixed assets                                            140,523            154,519           158,527

Current assets
Debtors                                                          253,929            173,633           229,059
Cash at bank and in hand                                       1,937,108          1,353,363           961,878
                                                               2,191,037          1,526,996         1,190,937

Creditors: amounts falling due
within one year                                                (401,549)          (426,055)         (562,723)

Net current assets                                             1,789,488          1,100,941           628,214

Total assets less current liabilities                          1,930,011          1,255,460           786,741

Capital and reserves
Called up share capital                                          332,532            148,275           148,275
Share premium account                                          6,316,870          4,777,574         4,777,574
Profit and loss account                                      (4,719,391)        (3,670,389)       (4,139,108)

Equity shareholders' funds                     9               1,930,011          1,255,460           786,741


                                                            Period ended        Period ended         Year ended
                                                             31 December         31 December            30 June
                                                                    2006                2005               2006
                                                             (unaudited)         (unaudited)          (audited)
                                             Notes                     £                   £                  £

Net cash outflow from
operating activities                           7               (759,096)           (396,136)          (778,952)

Returns on investment and
servicing of finance
Interest received                                                 16,073              34,111             54,257

Net cash inflow from returns on
investments and servicing of finance                              16,073              34,111             54,257


Corporation tax refund                                                 -                   -                  -

Net cash inflow from taxation                                          -                   -                  -

Capital expenditure
Disposal of fixed assets                                           1,044                   -                  -
Purchase of tangible fixed assets                                (6,344)               (665)           (29,480)

Net cash outflow from capital
expenditure and financial investment                             (5,300)               (665)           (29,480)

Net cash outflow before financing                              (748,323)           (362,690)          (754,175)

Issue of share capital                                         1,842,571                   -                  -
Expenses paid in connection with
share issues                                                   (119,018)                   -                  -
Net cash inflow from financing                                 1,723,553                   -                  -

Increase/(decrease) in cash                    8                 975,230           (362,690)          (754,175)

All cash flows relate to continuing operations.


1    Basis of preparation

     The interim financial information in respect of the six months ended 31 
     December 2006 is unaudited and has been prepared on the basis of the 
     accounting policies set out in the company's audited accounts for the year 
     ended 30 June 2006.

     The financial information contained in this statement does not constitute 
     statutory accounts. Statutory accounts for the year ended 30 June 2006 
     received an unqualified audit report and have been filed with the Registrar
     of Companies.

2    Continuing activities

     All of the activities are continuing.

3    Turnover

     All of the turnover arises in the United Kingdom.

4    Taxation

     As a result of losses available no liability to corporation tax is expected 
     to arise.

5    Dividends

     The Directors do not recommend the payment of an interim dividend.

6    Earnings per ordinary share

     The basic earnings per ordinary share has been calculated by dividing the 
     loss on ordinary activities after tax attributable to shareholders by the
     weighted average number of ordinary shares in issue during the period which
     carry the right to receive a dividend.

     The diluted earnings per ordinary share has been calculated as above on
     the basis of full exercise of options and warrants.

7    Reconciliation of operating loss to net cash outflow from operating

                                                       Period ended        Period ended           Year ended
                                                        31 December         31 December              30 June
                                                               2006                2005                 2006
                                                                  £                   £                    £

Operating loss                                            (596,356)           (581,558)          (1,070,423)
Depreciation of fixed assets                                 23,796              26,173               50,979
Profit on disposal of fixed assets                            (492)                   -                    -
Increase in debtors                                        (24,870)            (10,707)             (66,133)
(Decrease)/increase in creditors                          (161,174)             169,956              306,625

Net cash outflow from operating activities                (759,096)           (396,136)            (778,952)

8      Reconciliation of net cash flow to movement of liquid funds

                                                       Period ended        Period ended           Year ended
                                                        31 December         31 December              30 June
                                                               2006                2005                 2006
                                                                  £                   £                    £

Net funds at start of period                                961,878           1,716,053            1,716,053
Increase/(decrease) in cash for the period                  975,230           (362,690)            (754,175)

Net funds at end of period                                1,937,108           1,353,363              961,878

Net funds at the end of the period relate to cash at bank and in hand.

9    Reconciliation of movement in shareholders' funds

                                                       Period ended        Period ended           Year ended
                                                        31 December         31 December              30 June
                                                               2006                2005                 2006
                                                                  £                   £                    £

Loss for the period                                       (580,283)           (547,447)          (1,016,166)
New share capital issued less costs                       1,723,553                   -                    -

Net increase/(reduction) during the period                1,143,270           (547,447)          (1,016,166)
Opening shareholders' funds                                 786,741           1,802,907            1,802,907

Closing shareholders' funds                               1,930,011           1,255,460              786,741

                      This information is provided by RNS
            The company news service from the London Stock Exchange                                                                                                                                                                                                                                                 

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