Final Results

Accuma Group PLC
18 October 2005




Press Release                                                   18 October 2005


                                Accuma Group Plc

                            ('Accuma' or 'the Group')

                              Preliminary Results

Accuma Group Plc, a leading provider of personal debt advice specialising in
Individual Voluntary Arrangements (IVAs), announces its maiden results for the
year ended 31 July 2005.

Highlights

•   Admission to AIM on 9 March 2005 and placing to raise £4.1m
•   Turnover increased 191% to £2.85m (2004: £977k)
•   Gross profit increased 83% to £642k (2004: £349k)
•   Loss before tax of £473k - better than expectations
•   Strong balance sheet with net cash of £1.8m
•   Acquisition of Wilson Phillips and associated placing to raise £3m
•   Future contracted revenue now stands at £8.8m at the end of September 2005
•   IVA cases completed in the period increased 232% to 734 (2004: 221)
•   Strengthened senior management and operational resource
•   Significant investment in IT to ensure scalability and robustness of
    systems
•   Group market share increased significantly - currently 11%

Commenting on the results, Charles Howson, Chief Executive of Accuma Group,
said:
'I am pleased to report Accuma Group's maiden results since listing on AIM in
March 2005. The Group has made significant progress, both operationally and
financially, in the period since flotation. Accuma has benefited from investment
in marketing and resources and our increased profile has enabled us to build our
strategic referral relationships. This will ensure highly efficient client
acquisition and enable us to maintain our competitive advantage.

'The current, and indeed widely forecast, macro indicators point to further
strong growth for our industry. Given the significant increase in new case
volumes and future contracted revenues, together with investment in both
management and operational resources, I am confident that we have established
the momentum for strong earnings growth for the year ahead and beyond.'

For further information:
Accuma Group Plc
Charles Howson, Chief Executive                       Tel: [phone]
[e-mail]                        www.accumagroup.com
                                                          

Daniel Stewart & Company Plc
Tom Jenkins/Marc Young                                Tel: [phone]
[e-mail]


Media enquiries:
Abchurch
Chris Lane / Sarah Hollins                            Tel: [phone]
[e-mail]                         www.abchurch-group.com
                                                       


Chairman's Statement

I am delighted to be reporting Accuma's maiden results as an AIM quoted company.
The last year has been an exceptionally busy period in our history, a period in
which the Group listed on AIM, raised new funds to grow our business, and
acquired Wilson Phillips whose activities are highly complementary to ours. We
have achieved significant levels of growth since flotation.

The Board took the decision to list on AIM earlier this year to raise Accuma's
profile and accelerate the Group's expansion. Accuma floated in March 2005
raising £4.1 million in an oversubscribed issue to institutional shareholders.
The funds raised are enabling Accuma to reach the next stage in its development
and target selective value-adding acquisitions to complement the strong organic
growth that we have witnessed so far.

We operate in a market which is growing significantly and whose growth shows no
signs of abating in the short to medium term. We intend to take advantage of the
opportunity this affords us, and we are accordingly optimistic about the
prospects for the current financial year and beyond.

I would like to thank my fellow directors and all of our staff for their hard
work during the year. Finally, I would like to extend my thanks to our
shareholders for supporting Accuma.

Charles Taylor B Comm. CA
Non Executive Chairman


Chief Executive's Statement

Introduction

We are delighted to present Accuma Group's maiden set of results since our
flotation on the AIM market. The Group has made significant progress over the
past year and I am pleased to report that, over this period, turnover has
increased to £2.85 million from £978k in 2004.

Moreover, our market share has grown significantly since flotation and continues
to outpace that of the IVA market generally. This has been further enhanced by
the additional 2.2% market share of Wilson Phillips, which we acquired for £3.3
million at the end of August 2005. We estimate that Accuma's share of the IVA
market now stands at 11%.

The credibility, increased profile and strong financial position that Accuma's
listing has provided are already reaping benefits in line with our strategy for
future growth. The Group has as a result been able to broaden its routes to
market and, in addition to the growth we are achieving organically, we now have
the opportunity, where appropriate, to grow both market share and earnings
through strategic acquisitions as demonstrated by the acquisition of Wilson
Phillips.

Our strong performance is attributable to several factors. Firstly, we operate
in a market that is growing significantly, with well publicised record levels of
consumer debt with aggregate secured and unsecured consumer debt having breached
£1 trillion in July 2004. One of the key drivers in our sector is the £190
billion of this which is unsecured on credit cards, store cards and personal
loans.

Accuma's principal product, an Individual Voluntary Arrangement (IVA), is a
highly attractive alternative to bankruptcy, both for the debtor and his or her
creditors. For the debtor, it affords the opportunity to regain control of their
finances, with interest frozen and a proportion of the debt written off, and for
creditors it affords above average recovery rates - all detailed in a legally
binding contract and operated in a highly regulated environment.

Our 'client first' philosophy of providing best advice, at no cost to the
debtor, based on the debtor's particular circumstances, has allowed the Group to
gain a strong foothold in this expanding market in a relatively short period of
time.

The Group has invested in its IT infrastructure and the development and
implementation of proprietary software, which will provide more robust systems
and ensure future scalability along with further efficiencies in our operating
processes.

Strategy

Our focus is on the provision of personal debt solutions, based on unbiased
advice appropriate to an individual's circumstances. We operate in a clearly
defined core market and we believe that we have built a reputation for being
amongst the best in our sector and at the same time have achieved strong growth
in our market share.

The Group intends to continue to increase its share of the IVA market, whilst
ensuring efficient client acquisition and effective client management. We will
continue to seek ways of capitalising on our marketing expenditure without
prejudicing our core activity and in addition will continue to explore sensible
acquisition opportunities within our sector.

Financial results

These results demonstrate the Group's strong growth from the equivalent
financial period last year. The Group has achieved a turnover increase of 191%,
from £978k in 2004 to £2.85 million in 2005, with gross profit increasing 83% to
£642k over the same period. The loss on ordinary activities before taxation of
£473k, an increase from £311k in 2004, is primarily due to significantly
increased marketing expenditure post flotation, the benefits of which will be
reflected in 2006.

As summarised under 'People' below, the Group now has the infrastructure in
place to service the anticipated strong growth in our business.

Due to the five year life cycle of an average case, the Group had £5.4 million
of future contracted revenues at the period end, up from £1.3 million at 31 July
2004. This strong growth in future contracted revenues is continuing and, as at
the end of September 2005, the figure stood at £8.8 million.

Acquisition

On 31 August 2005, Accuma acquired a smaller competitor, Wilson Phillips, for a
maximum consideration of £3.35 million. In the year ended 31 May 2005, the
business had a turnover of £1.13 million on which it achieved a gross profit of
65% and a pre-tax profit of £0.23 million. At the time of acquisition, the
business was completing approximately 38-40 IVAs per month with 23 staff. We
believe the acquisition will be immediately earnings enhancing, pre-goodwill and
exceptional items, and in addition it increased our market share from 6.2% to
8.4%. In order to finance the cost of the acquisition and to provide working
capital to develop the business, we raised £3 million at 155p per share, through
a placing with new and existing shareholders.

Wilson Phillips is complementary to Accuma in that it does not compete in routes
to market having historically acquired its clients solely through referral
relationships. In line with Accuma's stated strategy, these relationships can be
exploited given our more sophisticated infrastructure and financial resource. We
are confident this will increase case volumes whilst lowering average client
acquisition costs throughout the Group.

Wilson Phillips is based in Blackburn, Lancashire and it is intended that the
business will operate independently of Accuma, save for systems and operational
support. The business will be relocated in December 2005 to modern office
premises locally in order to accommodate the anticipated increase in staff
numbers and case volumes. This relocation will also aid more efficient business
flows throughout the various departments.

It has a lower fee structure than Accuma due to its lower cost base and as such
is able to handle cases with lower debt levels, which Accuma has historically
foregone but will now be able to refer to Wilson Phillips thus generating high
margin incremental income. Wilson Phillips had £2.4 million of future contracted
revenues at the date of acquisition.

People

Our business is underpinned by the quality of our people and we have invested
significantly in building a highly experienced management team; our recruitment
policy has been to select only those personnel with relevant sector experience
who share with us the vision and commitment to deliver on our core philosophy.
The Group has continued to build on the strength of our existing team.

During the period since flotation we have recruited two additional licensed
insolvency practitioners to ensure that we have the capacity to accommodate our
future growth. In addition we have added to our advisory, research and
supervisory teams and made key appointments in our IT department.

Today the group employs 110 people (87 Accuma, 23 Wilson Phillips) and is
currently handling over 200 new IVA clients per month, with capacity to handle
approximately 350 per month, after further training of recent appointments.

Outlook

We are successfully building a client referral program through strategic
relationships with other financial intermediaries and we expect to see the
benefits of these relationships in the second half of 2006 through increased
case volumes and margins. The building of such relationships will enhance our
routes to market, reducing our reliance on more expensive media campaigns. This
strategy should, at the very least, minimise our client acquisition costs
although over time as our referrals increase, we would expect to see a
reduction.
The economic outlook will provide significant growth opportunities for our
business and we believe that we have the energy, commitment and expertise to
capitalise on these opportunities; we aim to clearly demonstrate our
differentiation to our competitors during 2006 and beyond.
Your Board is confident that having achieved our objectives to date, we will
continue to achieve excellent growth and deliver further shareholder value. The
significant progress we have achieved would not have been possible without our
people and on behalf of the Board I extend my sincere appreciation to them for
their efforts throughout the year. Finally, I would like to take this
opportunity, on behalf of the Board, to thank our new shareholders for their
support both at flotation and at the time of the acquisition of Wilson Phillips.
Charles Howson
Chief Executive



CONSOLIDATED PROFIT AND LOSS ACCOUNT
PERIOD ENDED 31 JULY 2005

                                       Note            31 July         31 July
                                                          2005            2004
                                                             £               £
TURNOVER                                             2,846,201         977,959
Cost of sales                                       (2,203,943)       (628,306)
                                                   -------------     -----------
GROSS PROFIT                                           642,258         349,653

Administrative expenses                             (1,125,464)       (650,091)
                                                   -------------     -----------

OPERATING LOSS                                        (483,206)       (300,438)

Interest receivable                                     39,720             947
Interest payable and similar charges                   (29,939)        (11,240)
                                                      ----------      ----------

LOSS ON ORDINARY ACTIVITIES                           (473,425)       (310,731)
BEFORE TAXATION

Taxation                                  1             83,300          50,841
                                                        --------        --------

LOSS ON ORDINARY ACTIVITIES                           (390,125)       (259,890)
                                                     -----------     -----------

Loss per share - basic                    2              (2.28p)         (1.73p)

The Group has no recognised gains or losses other than the results of the year
as set out above.
All the activities of the Group are classed as continuing.

CONSOLIDATED BALANCE SHEET
31 JULY 2005

                                                          31 July      31 July
                                                             2005         2004
                                                   £            £            £
FIXED ASSETS
Intangible assets                                         113,571            -
Tangible assets                                           111,496       27,633
                                                          ---------     --------
                                                          225,067       27,633
CURRENT ASSETS
Debtors                                    2,111,960                   636,724
Cash at bank                               2,041,518                    64,311
                                           -----------                  --------
                                           4,153,478                   701,035

CREDITORS : Amounts falling due within one  (816,485)                 (450,384)
year                                       -----------               -----------

NET CURRENT ASSETS                                      3,336,993      250,651
                                                        -----------    ---------

TOTAL ASSETS LESS CURRENT LIABILITIES                   3,562,060      278,284

CREDITORS : Amounts falling due after more
than                                                     (178,491)    (249,292)
one year                                                -----------  -----------

NET ASSETS                                              3,383,569       28,992
                                                        ===========     ========

CAPITAL AND RESERVES
Called-up equity share capital                          2,042,408    1,500,000
Share premium account                                   3,212,795            -
Merger reserve                                         (1,262,595)  (1,252,094)
Profit & Loss                                            (609,039)    (218,914)
                                                        -----------  -----------

SHAREHOLDERS' FUNDS                                     3,383,569       28,992
                                                        ===========     ========



CONSOLIDATED CASH FLOW STATEMENT
PERIOD ENDED 31 JULY 2005
                                                            31 July    31 July
                                                               2005       2004
                                                                  £          £
NET CASH OUTFLOW FROM OPERATING ACTIVITIES               (1,528,778)  (410,777)

RETURNS ON INVESTMENTS AND SERVICING OF
FINANCE
Interest received                               39,720                     947
Interest paid                                  (26,420)                 (8,296)
Interest element of finance lease rental        (3,519)                 (2,944)
payments                                       ---------               ---------

NET CASH INFLOW (OUTFLOW) FROM RETURNS ON
INVESTMENTS                                                   9,781    (10,293)
AND SERVICING OF FINANCE

CAPITAL EXPENDITURE
Payments to acquire tangible fixed assets     (109,949)                (27,012)
Proceeds from sale of fixed assets                   -     (109,949)    12,005
                                                          -----------   --------

NET CASH OUTFLOW FROM CAPITAL EXPENDITURE                  (109,949)   (15,007)

TAXATION                                                          -     (5,508)

ACQUISITIONS
Acquisition of Debt Solver Limited                          (23,895)         -
                                                           ----------        ---

CASH OUTFLOW BEFORE FINANCING                            (1,652,841)  (441,585)

FINANCING
Issue of ordinary share capital                           4,140,243    272,500
Issue costs charged to the share premium                   (495,541)   (24,595)
account
Capital element of finance lease rental                      (8,701)    (4,722)
payments
Repayment / (Proceeds) of loans                              (5,953)   250,000
                                                            ---------  ---------

NET CASH INFLOW FROM FINANCING                            3,630,048    493,183
                                                          -----------  ---------

INCREASE IN CASH                                          1,977,207     51,598
                                                          -----------   --------

RECONCILIATION OF OPERATING PROFIT TO NET CASH OUTFLOW FROM OPERATING ACTIVITIES

                                                        31 July        31 July
                                                           2005           2004
                                                              £              £
Operating loss                                         (483,206)      (300,438)
Amortisation                                             10,324              -
Loss on disposal of fixed assets                              -          1,939
Depreciation                                             33,653         18,849
(Increase) in debtors                                (1,391,936)      (492,104)
Increase in creditors                                   302,387        360,977
                                                        ---------      ---------

Net cash outflow from operating activities           (1,528,778)      (410,777)
                                                    =============    ===========

CONSOLIDATED CASH FLOW STATEMENT (continued)
PERIOD ENDED 31 JULY 2005
RECONCILIATION OF NET CASH FLOW TO MOVEMENT IN NET FUNDS
                                                         31 July       31 July
                                                            2005          2004
                                                               £             £
Increase in cash in the period                         1,977,207        51,598
Cash outflow/(inflow) from repayment/(proceeds) of
loans                                                      5,953      (250,000)
Cash outflow from decrease in lease financing              8,701         4,722
                                                           -------       -------

Change in net debt resulting from cash flows           1,991,861      (193,680)

New hire purchase agreement                               (7,567)      (23,584)
                                                         ---------    ----------

Change in net funds                                    1,984,294      (217,264)

Net (debt) funds at 31 July 2004                        (204,551)       12,713
                                                       -----------      --------

Net funds (debt) at 31 July 2005                       1,779,743      (204,551)
                                                       -----------   -----------



NOTES TO THE FINANCIAL STATEMENTS
PERIOD ENDED 31 JULY 2005

1. TAXATION
                                                          31 July     31 July
                                                             2005        2004
                                                                £           £
Current Tax

UK corporation tax based on the results for the period
at 19%                                                          -      (3,227)
Deferred taxation charge/(credit)
- origination and reversal of timing differences          (16,528)          -
- unrelieved tax losses                                   (66,772)    (47,614)
                                                         ----------  ----------
                                                         
Total tax credit                                          (83,300)    (50,841)
                                                         ==========  ==========

2. LOSS PER SHARE

The calculation of basic loss per share is based on the loss of £390,125 (2004:
loss of £(259,890)) and a weighted average number of ordinary shares in issue
during the period of 17,160,935 (2004 : 15,000,000). The share options in issue
would decrease the loss per share and are therefore anti dilutive.

3. STATUS OF FINANCIAL INFORMATION

The financial information set out in this report does not constitute the
company's statutory accounts for the period ended 31 July 2005, but is derived
from those accounts. Statutory accounts for the year ended 31 July 2005 will be
delivered to the Registrar of Companies shortly. The auditors have reported on
the statutory accounts for the period ended 31 July 2005 and their opinion was
unqualified for these financial statements. The annual report and accounts will
be dispatched to shareholders as soon as practicable.

4.                  APPROVAL OF ACCCOUNTS

These accounts were approved by the Board of Accuma on 17 October 2005.




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