Micap (food tech company) now floated

Interim results for the six months to 30th September 2005

HIGHLIGHTS

• Successful placing of new Ordinary shares to raise £825,000.
• Reduced loss per ordinary share of 2.0p (2004: loss 2.4p);
After tax loss of £0.59 million (2004 - loss £0.68m).
• Operating loss reduced by 17 % to £0.69 million (2004: loss
£0.83 million).
• Four distinct operating companies now within the Group
delivering a growing range of customer and revenue
oportunities.
• Significant progress in commercialisation of Micap
technologies.
• Acquisition of 100% of Micap Encapsulates Ltd.
• Programme of cost reduction across Group continues to be
implemented.