Half-yearly Report

Holders Technology plc                             

 Providers of specialised materials, equipment and services to the electronics 
                                   industry                                    

            Half yearly results for the 6 months ended 31 May 2009             

Holders Technology plc announces its unaudited half yearly results for the 6
month period ended 31 May 2009.

Chairman's statement

The first half of the current year proved to be extremely difficult for your
company. Our UK subsidiary which serves a PCB market with a bias towards
aerospace and industrial electronics, very creditably, achieved some modest
growth in turnover in the period but this was not the case elsewhere in Europe.
The German PCB market is particularly dependent on the automotive and capital
goods sectors, both of which have seen a severe contraction in output. The
European PCB market has contracted dramatically and inevitably our operations
in these markets have suffered marked reductions in turnover.

The combination of severely reduced sales volumes and adverse movements in
exchange rates resulted in reduced margins which we were unable fully to offset
by further reducing our overhead costs during the period. The severe downturn
in the European PCB market has slowed the take up of the new products we are
seeking to introduce but we have seen some encouraging signs that we will be
able to secure market positions for these new lines when markets settle.

It remains our policy whenever possible to insure our trade receivables but
this is becoming increasingly difficult to do as insurance cover has been
withdrawn for some of the larger PCB manufacturers. We have sought to manage
our exposure but we have made provision for a bad debt of £135,000 in respect
of a European customer.

Against this background we have finalised plans further to rationalise our
European activities by integrating our Dutch operations into our German
facility. This will enable us significantly to reduce our fixed costs and with
some modest recovery in sales volumes we expect these activities to achieve
profitability. Inevitably the costs of making these necessary changes are
significant and have adversely impacted the results for the half year.

We have reviewed our Chinese activities and have agreed measures to reduce
certain costs within the two entities involved. We will continue to monitor the
overall activity closely.

Shareholders should note that our balance sheet and cash position remains
strong and we intend that this will continue to be the case. As a board we
have, we believe, done all we can to protect the company during a very
challenging time and all board members have agreed to salary reductions as a
sign of commitment to restoring the financial results to more acceptable
levels.

It remains very difficult to predict the extent and timing of recovery in the
various markets which we address; our feeling is that while we are not seeing
further weakening we have yet clearly to see signs of recovery. I have tried to
set out the steps we are taking to deal with the position; we believe that
these will be of significant benefit to the second half of the current
financial year. Against this background and given our strong cash position we
have decided to maintain the interim dividend but we will carefully consider
the results for the second half of the current year and the prospects for the
next financial year when making our recommendation regarding the final dividend
for the current year.

The half yearly report was approved by the board on 20 July 2009 and signed on
its behalf by:

Rudolf W. Weinreich                                                     
                                                                        
Chairman and Chief Executive                                            
                                                                        
20 July 2009                                                            

Consolidated income statement

for the half year ended 31 May 2009 (Unaudited)

                                       Half year      Half year      Full-year
                                        ended 31       ended 31       ended 30
                                      May 2009 £     May 2008 £     Nov 2008 £
                                            '000           '000           '000
                                                                              
Notes                                                                         
                                                                              
Revenue                         1          6,537          8,783         17,481
                                                                              
Cost of sales                            (5,138)        (6,572)       (13,057)
                                                                              
Gross profit                               1,399          2,211          4,424
                                                                              
Distribution costs                         (109)          (155)          (427)
                                                                              
Administrative expenses                  (1,744)        (1,636)        (3,285)
                                                                              
Fundamental restructuring                  (176)              -           (64)
                                                                              
Impairment of goodwill                         -              -          (100)
                                                                              
Impairment of investment in                    -              -           (51)
associates                                                                    
                                                                              
Other operating income                       (4)              -             11
                                                                              
Operating profit                           (634)            420            508
                                                                              
Finance income                                39             18             43
                                                                              
Finance expense                             (13)           (13)           (38)
                                                                              
Share of loss of associate                     -            (3)              -
                                                                              
Profit before taxation                     (608)            422            513
                                                                              
Taxation                        2            104          (118)          (243)
                                                                              
Profit after taxation                      (504)            304            270
                                                                              
Attributable to:                                                              
                                                                              
Equity shareholders of the company         (483)            317            322
                                                                              
Minority interest                           (21)           (13)           (52)
                                                                              
                                           (504)            304            270
                                                                              
(Loss)/Earnings per share       5       (11.61)p          8.10p          8.21p
                                                                              
Diluted (loss)/earnings per     5       (11.61)p          8.10p          8.21p
share                                                                         

Consolidated statement of recognised income and expense

for the half year ended 31 May 2009 (Unaudited)

                                      Half year        Half year      Full-year
                                       ended 31         ended 31       ended 30
                                       May 2009       May 2008 £     Nov 2008 £
                                          £'000             '000           '000
                                                                               
Exchange differences on translation           167            349            568
of foreign operations                                                          
                                                                               
(Loss)/Profit for the period                (504)            304            270
                                                                               
                                            (337)            653            838
                                                                               
Attributable to:                                                               
                                                                               
Equity shareholders of the                  (301)            650            805
company                                                                        
                                                                               
Minority interest                            (36)              3             33
                                                                               
                                            (337)            653            838
                                                                               

Consolidated balance sheet

at 31 May 2009 (Unaudited)

                                         Half year     Half year     Full-year
                                          ended 31      ended 31      ended 30
                                        May 2009 £    May 2008 £    Nov 2008 £
                                              '000          '000          '000
                                                                              
                               Notes                                          
                                                                              
Assets                                                                        
                                                                              
Non-current assets                                                            
                                                                              
   Goodwill                                    204           403           201
                                                                              
   Property, plant and                         614           693           651
   equipment                                                                  
                                                                              
   Investments in associates                     -            26             -
                                                                              
   Deferred tax                                 29             -            31
                                                                              
                                               847         1,122           883
                                                                              
Current assets                                                                
                                                                              
   Inventories                               2,829         3,150         2,808
                                                                              
   Trade and other receivables               2,105         2,870         2,700
                                                                              
   Current tax                                 232             -            99
                                                                              
   Cash and cash equivalents                 1,179         1,039         1,774
                                                                              
                                             6,345         7,059         7,381
                                                                              
Liabilities                                                                   
                                                                              
Current liabilities                                                           
                                                                              
   Trade and other payables                (1,148)       (1,552)       (1,663)
                                                                              
   Borrowings                                (157)         (216)         (237)
                                                                              
   Current tax                                 (2)         (109)          (33)
                                                                              
                                           (1,307)       (1,877)       (1,933)
                                                                              
Net current assets                           5,038         5,182         5,448
                                                                              
Non-current liabilities                                                       
                                                                              
   Retirement benefit                        (165)         (149)         (165)
   liability                                                                  
                                                                              
   Deferred consideration                        -         (104)             -
                                                                              
                                             (165)         (253)         (165)
                                                                              
Net assets                                   5,720         6,051         6,166
                                                                              
Shareholders' equity                                                          
                                                                              
   Share capital               3               416           416           416
                                                                              
   Share premium account       3             1,531         1,531         1,531
                                                                              
   Capital redemption reserve  3                 1             1             1
                                                                              
   Retained earnings           3             2,963         3,633         3,568
                                                                              
   Cumulative translation      3               702           370           520
   adjustment                                                                 
                                                                              
Equity attributable to the                   5,613         5,951         6,036
equity shareholders of the                                                    
company                                                                       
                                                                              
Minority interests in equity   3               107           100           130
                                                                              
                                             5,720         6,051         6,166

Consolidated cash flow statement

for the half year ended 31 May 2009 (Unaudited)

                                         Half year     Half year      Full-year
                                          ended 31      ended 31       ended 30
                                        May 2009 £    May 2008 £     Nov 2008 £
                                              '000          '000           '000
                                                                               
Cash flows from operating activities                                           
                                                                               
  Operating profit                           (634)           420            508
                                                                               
  Share-based payment charge                     6            12             12
                                                                               
  Depreciation                                  92            92            184
                                                                               
  Impairment of goodwill                         -             -            100
                                                                               
  Impairment of investment in                    -             -             51
  associates                                                                   
                                                                               
  Currency translation                         165           301            293
                                                                               
  (Gain)/loss on sale of property,               4             -              2
  plant and equipment                                                          
                                                                               
  (Increase)/Decrease in inventories          (21)         (505)          (140)
                                                                               
  Decrease/(Increase) in trade and             595         (218)           (86)
  other receivables                                                            
                                                                               
  (Decrease)/Increase in trade and           (517)           163            349
  other payables                                                               
                                                                               
  Cash (used in)/generated from              (310)           265          1,273
  operations                                                                   
                                                                               
  Corporation tax paid                        (58)         (299)          (566)
                                                                               
  Net cash generated (used in)/from          (368)          (34)            707
  operations                                                                   
                                                                               
Cash flows from investing activities                                           
                                                                               
  Increase in investment in associate            -             -           (23)
                                                                               
  Purchase of property, plant and             (52)         (123)          (132)
  equipment                                                                    
                                                                               
  Proceeds from sale of property, plant          7             1             24
  and equipment                                                                
                                                                               
  Interest received                             20            18             43
                                                                               
  Net cash generated used in investing        (25)         (104)           (88)
  activities                                                                   
                                                                               
Cash flows from financing activities                                           
                                                                               
  Proceeds from exercise of employee             -             -             13
  share options                                                                
                                                                               
  Interest paid                               (13)          (13)           (38)
                                                                               
  Equity dividends paid                      (128)         (127)          (210)
                                                                               
  Finance lease principal repayments             -             -              -
                                                                               
  Net cash used in financing activities      (141)         (140)          (235)
                                                                               
Net change in cash and cash equivalents      (534)         (278)            384
                                                                               
  Cash and cash equivalents at start of      1,537         1,101          1,101
  period                                                                       
                                                                               
  Effect of foreign exchange rates              19             -             52
                                                                               
Cash and cash equivalents at end of          1,022           823          1,537
period                                                                         
                                                                               

Notes:                                                                        

 1. Basis of preparation
   
The consolidated half year financial statements have been prepared in
accordance with the AIM Rules for Companies and prepared on a basis consistent
with International Financial Reporting Standards ("IFRS") as adopted by the EU
and the accounting policies set out in the group's financial statements for the
year ended 30 November 2008.

The consolidated half year financial statements are unaudited and include all
adjustments which management considers necessary for a fair presentation of the
group's financial position, operating results and cash flows for the 6 month
periods ended 31 May 2009 and 31 May 2008.

The half year financial statements do not constitute statutory accounts as
defined by Section 434 of the Companies Act 2006. A copy of the group's
financial statements for the year ended 30 November 2008 prepared in accordance
with IFRS as adopted by the EU has been filed with the Registrar of Companies.
The auditors' report on those financial statements was not qualified and did
not contain statements under s237(2) of s237(3) of the Companies Act 1985.

As permitted, the group has chosen not to adopt IAS 34 `Interim Financial
Statements' in preparing these half year financial statements and therefore the
half year financial information is not in full compliance with IFRS.

The preparation of half year financial statements requires management to make
judgements, estimates and assumptions that affect the application of policies
and reported amounts of assets and liabilities, income and expenses. Actual
results may differ from these estimates.

These half year financial statements have been prepared under the historical
cost convention.

The board of Holders Technology plc approved this half yearly report on 20 July
2009.

 2. The tax credit/(charge) for the six months ended 31 May 2009 is calculated
    based on the tax rates applicable in the country in which each company
    operates. Taxation includes a credit/(charge) of £120,000 (2008: £(54,000))
    relating to overseas operations.
   
 3. Statement of changes in shareholders' equity
   
Group                               Capital  Cumulative                                       
                                                                                              
 Share                     Share redemption translation Retained Shareholders' Minority  Total
                                                                                              
 capital                 premium    reserve  adjustment earnings        Equity interest equity
                                                                                              
 £'000                     £'000      £'000       £'000    £'000         £'000    £'000  £'000
                                                                                              
                                                                                              
                                                                                              
Balance at 1         416   1,531          1         520    3,568         6,036      130  6,166
December 2008                                                                                 
                                                                                              
Profit/(loss) for      -       -          -           -    (483)         (483)     (21)  (504)
the period                                                                                    
                                                                                              
Dividends              -       -          -           -    (128)         (128)        -  (128)
                                                                                              
Currency               -       -          -         182        -           182     (15)    167
translation                                                                                   
differences                                                                                   
                                                                                              
Investment by          -       -          -           -        -             -       13     13
minority interest                                                                             
                                                                                              
Share-based payment    -       -          -           -        6             6        -      6
credit                                                                                        
                                                                                              
Balance at 31 May    416   1,531          1         702    2,963         5,613      107  5,720
2009                                                                                          

 4. A final dividend of 3.25p per share on the total issued share capital,
    excluding treasury shares, of 3,939,551 10p ordinary shares was paid on 19
    May 2009 in respect of the year ended 30 November 2008.
   
An interim dividend payment of 2.1p per share (2008: 2.1p per share) will be
payable on 6 October 2009 to shareholders on the register at 11 September 2009.
The shares will go ex-dividend on 9 September 2009. The interim dividend was
not approved by the board at 31 May 2009 and accordingly, has not been included
as a liability as at that date.

 5. The basic earnings per share are based on the loss for the period of £
    483,000 (2008: profit £317,000) and on ordinary shares 3,939,551 (2008:
    3,915,551), the weighted average number of shares in issue during the year.
    Diluted earnings per share are based on 3,939,551 ordinary shares (2008:
    3,914,551), being the weighted average number of ordinary shares after an
    adjustment of nil shares (2008: nil) in relation to share options.
   
 6. A copy of this half yearly report is being sent to shareholders and is
    available for inspection at the company's registered office, Devonshire
    House, Manor Way, Borehamwood, Herts WD6 1QQ and via its website 
    www.holderstechnology.com.
   
For further information, contact:

Holders Technology Plc020 8731 4336

Mr Rudi Weinreich, Chairman and Chief Executive

Mr Jim Shawyer, Group Finance Director

AstaireSecurities Plc - Nomad & Broker 020 7448 4400

Shane Gallwey

Website www.holderstechnology.com