Interim Results -4-

| At 30 June     |   3,154 |  17,269 |   (607) |           - |          632 |  (7,790) |  12,658 | 
| 2008           |         |         |         |             |              |          |         | 
+----------------+---------+---------+---------+-------------+--------------+----------+---------+ 
|                |         |         |         |             |              |          |         | 
+----------------+---------+---------+---------+-------------+--------------+----------+---------+ 
| Share option   |       - |       - |       - |           - |          308 |        - |     308 | 
| expense        |         |         |         |             |              |          |         | 
+----------------+---------+---------+---------+-------------+--------------+----------+---------+ 
| Reserve        |       - |       - |       - |           - |            - |        - |       - | 
| transfer       |         |         |         |             |              |          |         | 
+----------------+---------+---------+---------+-------------+--------------+----------+---------+ 
| Total          |       - |       - |       - |           - |            - |  (3,458) | (3,458) | 
| comprehensive  |         |         |         |             |              |          |         | 
| loss for the   |         |         |         |             |              |          |         | 
| period         |         |         |         |             |              |          |         | 
+----------------+---------+---------+---------+-------------+--------------+----------+---------+ 
|                |         |         |         |             |              |          |         | 
+----------------+---------+---------+---------+-------------+--------------+----------+---------+ 
| At 31 December |   3,154 |  17,269 |   (607) |           - |          940 | (11,248) |   9,508 | 
| 2008           |         |         |         |             |              |          |         | 
+----------------+---------+---------+---------+-------------+--------------+----------+---------+ 
|                |         |         |         |             |              |          |         | 
+----------------+---------+---------+---------+-------------+--------------+----------+---------+ 
| Share option   |       - |       - |       - |           - |          142 |        - |     142 | 
| expense        |         |         |         |             |              |          |         | 
+----------------+---------+---------+---------+-------------+--------------+----------+---------+ 
| Foreign        |       - |       - |       - |          33 |            - |        - |      33 | 
| exchange       |         |         |         |             |              |          |         | 
| adjustments on |         |         |         |             |              |          |         | 
| consolidation  |         |         |         |             |              |          |         | 
+----------------+---------+---------+---------+-------------+--------------+----------+---------+ 
| Total          |       - |       - |       - |           - |            - |  (2,426) | (2,426) | 
| comprehensive  |         |         |         |             |              |          |         | 
| loss for the   |         |         |         |             |              |          |         | 
| period         |         |         |         |             |              |          |         | 
+----------------+---------+---------+---------+-------------+--------------+----------+---------+ 
|                |         |         |         |             |              |          |         | 
+----------------+---------+---------+---------+-------------+--------------+----------+---------+ 
| At 30 June     |   3,154 |  17,269 |   (607) |          33 |        1,082 | (13,674) |   7,257 | 
| 2009           |         |         |         |             |              |          |         | 
+----------------+---------+---------+---------+-------------+--------------+----------+---------+ 
|                |         |         |         |             |              |          |         | 
+----------------+---------+---------+---------+-------------+--------------+----------+---------+ 
| Share option   |       - |       - |       - |           - |           91 |        - |      91 | 
| expense        |         |         |         |             |              |          |         | 
+----------------+---------+---------+---------+-------------+--------------+----------+---------+ 
| Foreign        |       - |       - |       - |           4 |            - |        - |       4 | 
| exchange       |         |         |         |             |              |          |         | 
| adjustments on |         |         |         |             |              |          |         | 
| consolidation  |         |         |         |             |              |          |         | 
+----------------+---------+---------+---------+-------------+--------------+----------+---------+ 
| Total          |       - |       - |       - |           - |            - |  (1,225) | (1,225) | 
| comprehensive  |         |         |         |             |              |          |         | 
| loss for the   |         |         |         |             |              |          |         | 
| period         |         |         |         |             |              |          |         | 
+----------------+---------+---------+---------+-------------+--------------+----------+---------+ 
|                |         |         |         |             |              |          |         | 
+----------------+---------+---------+---------+-------------+--------------+----------+---------+ 
| At 31 December |   3,154 |  17,269 |   (607) |          37 |        1,173 | (14,899) |   6,127 | 
| 2009           |         |         |         |             |              |          |         | 
+----------------+---------+---------+---------+-------------+--------------+----------+---------+ 
 
 
 
+------------------------------------+------+--+----------+----------+----------+ 
|                                                                               | 
| Consolidated Balance Sheet                                                    | 
| Six months ended 31 December 2009                                             | 
|                                                                               | 
+-------------------------------------------------------------------------------+ 
|                                    |Note  |  |   31 Dec |   31 Dec |       30 | 
|                                    |      |  |     2009 |     2008 |     June | 
|                                    |      |  |  GBP'000 |  GBP'000 |     2009 | 
|                                    |      |  |          |          |  GBP'000 | 
+------------------------------------+------+--+----------+----------+----------+ 
|                                    |      |  |          |          |          | 
+------------------------------------+------+--+----------+----------+----------+ 
| Non-current assets                 |      |  |          |          |          | 
+------------------------------------+------+--+----------+----------+----------+ 
| Intangible assets                  |  6   |  |        - |        - |        - | 
+------------------------------------+------+--+----------+----------+----------+ 
| Property, plant and equipment      |  7   |  |       11 |       16 |       16 | 
+------------------------------------+------+--+----------+----------+----------+ 
|                                    |      |  |       11 |       16 |       16 | 
+------------------------------------+------+--+----------+----------+----------+ 
| Current assets                     |      |  |          |          |          | 
+------------------------------------+------+--+----------+----------+----------+ 
| Accrued income and margin deposits |      |  |        - |      180 |       63 | 
+------------------------------------+------+--+----------+----------+----------+ 
| Trade and other receivables        |      |  |      145 |      182 |       95 | 
+------------------------------------+------+--+----------+----------+----------+ 
| Derivative financial instruments   |      |  |        - |      150 |        - | 
+------------------------------------+------+--+----------+----------+----------+ 
| Research and development tax credits      |  |        - |        - |      600 | 
| receivable                                |  |          |          |          | 
+-------------------------------------------+--+----------+----------+----------+ 
| Money market investments           |      |  |        - |    6,500 |    1,000 | 
+------------------------------------+------+--+----------+----------+----------+ 
| Cash and cash equivalents          |      |  |    6,182 |    3,676 |    6,037 | 
+------------------------------------+------+--+----------+----------+----------+ 
|                                    |      |  |    6,327 |   10,688 |    7,795 | 
+------------------------------------+------+--+----------+----------+----------+ 
| Current liabilities                |      |  |          |          |          | 
+------------------------------------+------+--+----------+----------+----------+ 
| Trade and other payables           |      |  |    (211) |  (1,144) |    (554) | 
+------------------------------------+------+--+----------+----------+----------+ 
| Net current assets                 |      |  |    6,116 |    9,544 |    7,241 | 
+------------------------------------+------+--+----------+----------+----------+ 
| Total assets less current          |      |  |    6,127 |    9,560 |    7,257 | 
| liabilities                        |      |  |          |          |          | 
+------------------------------------+------+--+----------+----------+----------+ 
|                                    |      |  |          |          |          | 
+------------------------------------+------+--+----------+----------+----------+