Achievements Aug 2003 to date

• Mexico / Latin America License and Distribution agreements signed

• USA drives sales higher by 20%

• China LOI signed

• London office closed

• Sale of site of M&O London generating c£5m profit

• Purchase of Brewery Road site

• Transfer of SERPS related pension liability back to government with £1.5m reduction in pension deficit

• Share placing @ £1.475p raising £1.3m