Interim Results

27 July 2006

                   Oak Holdings plc (`Oak' or `the Company)                    

                                Interim Results                                

Oak Holdings plc, the AIM listed property development and consultancy group,
announces its results for the six months ended 30 April 2006.

Overview

  * Foundations in place to build a significant property development and
    consultancy group
   
  * Reduced operating loss before exceptional items of £261,555 (2005: £
    643,962)
   
  * YES! Project in final stages of outline planning
   
  * Rotherham Metropolitan Borough Council voted unanimously in favour of
    supporting the project
   
  * Government Office for Yorkshire and Humberside referred project back to
    local council for final approval
   
  * Potential portfolio of partners for the scheme strengthened with the
    addition of utility giant, E.ON
   
  * Consultancy division performing well with advanced negotiations underway
    with regards to a number of prospects internationally
   
Chairman's Statement

During the period under review we have worked extremely hard putting the
foundations in place to build a significant property development and
consultancy group. However, it is really post year end that the results of this
labour have begun to come to fruition so I am including these in the following
statement.

Most significantly, the YES! Project, our £250 million mixed-use leisure scheme
in South Yorkshire, is now in the final stages of outline planning having been
referred back by the Government Office for Yorkshire and Humberside to
Rotherham Metropolitan Borough Council (RMBC) for approval. In tandem with this
our potential portfolio of partners for the scheme has been strengthened with
the addition of utility giant, E.ON, which underpins the project's appeal to
major international and national operators.

Our consultancy division is also performing well with advanced negotiations
underway with regards to a number of prospects internationally, and an
increased number of opportunities being offered.

Results

I am pleased to report the results for the six months to 30 April 2006. The
Company made a reduced operating loss before exceptional items of £261,555
(2005: £643,962) due to its prudent cost control and the fact that the majority
of costs in advancing the YES! Project through to planning consent, were
incurred in the two previous years. No dividend is being recommended (2005:
nil).

Current Trading

The YES! Project

On 12 May we received notice that RMBC's planning board, had voted unanimously
in favour of supporting the YES! Project. While this was a major step for us,
given the project's size, its greenbelt designation and the local authority's
ownership, referral to the Government Office was mandatory and represented an
even greater challenge, since ultimately the potential for a public inquiry
existed. The proposal was referred to the Government Office for Yorkshire and
Humberside as planned and we prepared ourselves for a long wait. Two weeks ago
on 14 July 2006, some months ahead of our expectations, we were delighted to
announce confirmation that the Government Office had entrusted the local
planning authority of RMBC with responsibility for the planning application.
Naturally there is more mileage to go before we can begin construction
including securing funding and tenants. However this is a key achievement and a
very exciting development for us; it rewards the Company's diligence and
patience and confirms the board's confidence in the project.

Additionally, at the beginning of July we signed a Memorandum of Understanding
(`MOU') with the major international utility company, E.ON, to collaborate on
the development of the project. E.ON will provide resource and support for the
next stage of the project and will also look to bring sustainable and
environmentally friendly power solutions to the scheme.

The agreement with E.ON follows MOU's signed with other key tenants including
Baydrive Group, which owns the TopGolf Ranges, Sony UK Ltd and Venture Xtreme
UK Ltd, the specialist extreme sports activity company. We are in advanced
negotiations with a number of other partners and major tenants and hope to
update the market soon on our progress.

It is difficult to overstate the significance of this project. Not only will it
bring considerable employment to the area, but it will also provide enhanced
environmental benefits to the whole of South Yorkshire. We believe it will
become a major attraction for the country, becoming a catalyst for further
investment to the area and the forerunner of a whole new genre of property
investment.

Consultancy Division

The consultancy division, established to utilise the extensive skills,
expertise and contacts of the Directors to offer project consultancy on every
aspect of property development and investment, is gaining momentum. New
commissions have recently been secured advising on a number of projects both in
the UK and internationally. Discussions continue on other prospects.

Funding

The Company previously stated that after receiving `Resolutions to Grant' it
would seek further funding to progress the YES! Project and for working capital
requirements. The Directors continue to assess the various options available
and will update the market when the most effective financial arrangement has
been agreed.

Conclusion

I am pleased to be able to report that our efforts are finally paying off,
giving us renewed confidence to take the Company forward aggressively in the
coming months and to reward our shareholders for their ongoing support.

Malcolm Savage
Chairman
27 July 2006



Oak Holdings plc
Profit and loss account
For the six months ended 30 April 2006

                                         6 months      6 months 12 months ended
                                         ended 30      ended 30 31 October 2005
                                       April 2006    April 2005       (audited)
                                                                               
                                      (unaudited)   (unaudited)                
                                                                               
                                                £             £               £
                                                                               
Turnover                                   34,000         5,526         144,448
                                                                               
Cost of sales                                   -             -       (126,708)
                                                                               
Gross profit (loss)                        34,000         5,526          17,740
                                                                               
Operating expenses                      (295,555)     (649,498)     (1,072,934)
                                                                               
Operating loss                          (261,555)     (643,962)     (1,055,194)
                                                                               
Interest receivable                         5,283         1,931          14,444
                                                                               
Loss on ordinary activities before      (256,272)     (642,031)     (1,040,750)
taxation                                                                       
                                                                               
Taxation                                        -             -               -
                                                                               
Retained (loss)/profit for the          (256,272)     (642,031)     (1,040,750)
period                                                                         
                                                                               
Basic loss per share (in pence)            (0.1p)        (0.1p)          (0.1p)



Oak Holdings plc
Balance Sheet
As at 30 April 2006

                                         As at 30      As at 30        As at 31
                                       April 2006    April 2005    October 2005
                                                                      (audited)
                                      (unaudited)   (unaudited)                
                                                                               
                                                £             £               £
                                                                               
Intangible fixed assets                10,828,446    10,828,446      10,828,446
                                                                               
Tangible fixed assets                           -         2,519             889
                                                                               
Investments                                 2,759             -               -
                                                                               
                                       10,831,205    10,830,965      10,829,335
                                                                               
Stock                                           -       121,917               -
                                                                               
Debtors                                    19,432       107,928          20,385
                                                                               
Cash at bank and in hand                  176,302       744,310         449,802
                                                                               
Current assets                            195,734       974,155     470,187    
                                                                               
Creditors falling due within one        (221,749)     (345,184)       (238,305)
year                                                                           
                                                                               
Net current assets                       (26,015)       628,971         231,882
                                                                               
Total assets less current              10,805,190    11,459,936      11,061,217
liabilities                                                                    
                                                                               
Creditors falling due after more        (180,695)     (180,695)       (180,695)
than one year                                                                  
                                                                               
Net assets                             10,624,495    11,279,241      10,880,522
                                                                               
Capital and reserves                                                           
                                                                               
Called up share capital                 7,480,886     7,480,783       7,480,783
                                                                               
Share premium account                   2,987,146     2,987,004       2,987,004
                                                                               
Capital redemption reserve                164,667       164,667         164,667
                                                                               
Profit and loss account               (5,205,523)   (4,550,532)     (4,949,251)
                                                                               
Merger reserve                          5,197,319     5,197,319       5,197,319
                                                                               
Equity shareholders' funds             10,624,495    11,279,241      10,880,552



Oak Holdings plc
Cash Flow Statement
For the six months ended 30 April 2006

                                         6 months      6 months      12 months
                                         ended 30      ended 30       ended 31
                                       April 2006    April 2005   October 2005
                                                                     (audited)
                                      (unaudited)   (unaudited)               
                                                                              
                                                £             £              £
                                                                              
Net Cash Outflow from                   (276,269)     (587,233)      (894,254)
                                                                              
Operating Activities                                                          
                                                                              
Returns on Investments and                                                    
                                                                              
Servicing of Finance                                                          
                                                                              
Net interest received                       5,283         1,931         14,444
                                                                              
Capital Expenditure and Financial               -             -              -
Investments                                                                   
                                                                              
Investments                               (2,759)             -              -
                                                                              
Cash Outflow before Financing           (273,745)     (585,302)      (879,810)
                                                                              
Financing                                                                     
                                                                              
Proceeds from issue of shares                 245     1,135,365      1,135,365
                                                                              
Increase/(Decrease) in Cash             (273,500)       550,063        255,555

Notes to the Interim Results

1 The Group results have been prepared in accordance with the accounting
polices stated in the 2005 annual report.

  * Turnover for the 12 months ended 31 October 2005 included the property sale
    at £123,067 of freehold land at Great Haywood, Staffs, previously held for
    re-sale or potential re-development.
   
  * Goodwill arose on the acquisition of Oak Holdings Limited on 1 December
    2003 and was attributable primarily to the selection of Oak Holdings
    Limited by Rotherham Metropolitan Borough Council (RMBC) as preferred
    developer on the YES! Project, a planned major entertainment and leisure
    complex. No amortisation of goodwill has arisen as the directors consider
    that the useful life of the acquired goodwill relates to the realisation of
    the YES! Project.
   
  * The calculation of loss per share is based upon the weighted average number
    of shares in issue during the period of 748,085,110 (Year ended 31 October
    2005 - 707,887,207 and 6 months ended 30 April 2005 - 669,696,179).
   
  * The results for the periods to 30 April 2006 and 30 April 2005 are
    unaudited and do not constitute statutory accounts in accordance with
    section 240 of the Companies Act 1985. The comparative figures for the year
    ended 31 October 2005 are an abbreviated version of the full accounts which
    have been reported on without qualification by the auditors. The auditors
    however drew attention, in their report on the financial statements for the
    year ended 31 October 2005, to the value of goodwill being dependent upon
    being granted planning permission for the YES! Project and the ability to
    raise development finance and secure tenants for the scheme. They also
    noted that the Group would need to secure further funds to provide working
    capital to continue to pursue the scheme. Since the year-end audit report,
    a major hurdle in the planning process has been overcome with the
    Government Office's decision `not to interfere' in the process and to refer
    it back to RMBC for their determination. The financial statements for the
    year ended 31 October 2005 have been filed with the Registrar of Companies.
   
  * No dividend is proposed for the period ended 30 April 2006.
   
  * Copies of the interim results will be available to members of the public
    from the Company's registered office, at 15 Half Moon Street, London W1J
    7AT.
   
Further enquiries:

Oak Holdings plc (www.oakholdings.co.uk)                    
Mike Hill, Finance Director     Tel: [phone]

St Brides Media & Finance Ltd           
Isabel Crossley                 Tel: [phone]