Interim Results

ASOS PLC
28 November 2006


FOR RELEASE                  7.00 am                  28 November 2006


                                    ASOS plc
                              ('ASOS' or 'Group')
                 ('a leading internet based fashion retailer')

          INTERIM RESULTS FOR THE SIX MONTHS ENDED 30th SEPTEMBER 2006



Key Financial Results

£'000s                              6 months to    6 months to   Increase
                                   30 September   30 September
                                           2006           2005

    Asos.com sales                       15,646          8,062        94%

    Group sales                          15,917          8,345        91%
  
    Profit before tax and exceptional item  269            (44)        -

    Exceptional item - Buncefield               
    insurance proceeds                      570              -         -
 
    Profit before tax                       839            (44)        -


*          ASOS.com sales +94% to £15.6m

*          Group sales +91% to £15.9m

*          Early adoption of International Financial Reporting Standards (IFRS)

*          Group profit before tax under IFRS (excluding insurance proceeds) of
           £269,000 (loss of £44,000 for 6 months to September 2005)

*          1.1 million registered users as at 27 November 2006 (725,000 as at 27
           November 2005)

*          ASOS.com sales +62% year on year for the 8 weeks to 26 November 2006

*          Optimistic of another excellent year's trading


ASOS plc

Nick Robertson, Chief Executive                               Tel: [phone]

Jon Kamaluddin, Finance Director

Website: www.asos.com


Cubitt Consulting

Brian Coleman-Smith / Nia Thomas / Leanne Denman              Tel: [phone]


Seymour Pierce

Mark Percy / Nicola Marrin                                    Tel: [phone]

Background note:

ASOS plc is an Internet Retail and Marketing Services Group, established in June
2000 and admitted to AIM in October 2001. Its principal business is ASOS.com, a
leading online fashion and beauty retailer. Aimed primarily at an Internet savvy
18-34 year old, ASOS had over 1.1 million registered users at 27 November 2006
and offers over 4000 products across womenswear, menswear, footwear,
accessories, jewellery and beauty.



                                    ASOS plc
                              ('ASOS' or 'Group')
                 ('a leading internet based fashion retailer')

          INTERIM RESULTS FOR THE SIX MONTHS ENDED 30th SEPTEMBER 2006

                          Chief Executive's Statement


Results

We had a very strong first half, delivering 94% sales growth for ASOS.com, the
group's main trading subsidiary. This follows the investment we made last year
in our buying and merchandising teams and the subsequent broadening of the
product offer.

Following the early adoption of IFRS, I am pleased to report a profit before tax
(excluding £570,000 of insurance proceeds) of £269,000 for the period, against a
loss of £44,000 for the same period last year.

As more attention is paid to the online channel by the high street retailers, we
remain committed to maintaining our lead position and in creating capacity for
continued rapid growth. Accordingly, our operating costs have risen by £1.4
million as a result of increasing headcount. The remaining increase in operating
costs of £1.2 million is as a direct result of increased volumes.

Cash balances have fallen by £2.6 million since 30 March 2006 predominantly as a
result of stock building in advance of Christmas trading, faster payment of
creditors in order to secure early settlement discounts and £0.9 million of
capital expenditure.


Dividend

The Directors continue to keep dividend policy under review but, with the
continuing investment in the business, it has been decided not to declare an
interim dividend at this stage in the Group's development.


The Market

The positive sentiment surrounding online retail in the UK continues with growth
forecasts for the market ranging from 30% to 40% for this year and next. The
rapid take up of broadband and wider acceptance of online shopping remain the
key drivers.


Outlook

The investments we have made over the last 12 months and our partnership with
Unipart Logistics have put the business in a much stronger position.

ASOS remains the second most popular fashion store online behind Next attracting
over 1.6 million unique visitors to the site in October 2006. As at 27 November
2006, ASOS.com had 1.1 million registered users.

Our performance for the first half is in line with our internal budgets and as
such we remain confident that full year results will be in line with market
expectations, as restated for the impact of the early adoption of IFRS.

As we approach the key Christmas trading period I remain optimistic that we can
look forward to another excellent year's trading. An update on trading will be
given in mid January.


Nick Robertson

Chief Executive Officer

28th November 2006



Unaudited Consolidated (Condensed) Income Statement
for the six months ended 30 September 2006

£'000s                            6 Months to   6 Months to   12 Months to
                                 30 September  30 September       31 March
                                         2006          2005           2006
___________________________________________________________________________

Revenue                                15,917         8,345         18,808
Cost of Sales                          (8,995)       (4,333)       (10,028)
___________________________________________________________________________
Gross Profit                            6,922         4,012          8,780

Administration Expenses                (6,706)       (4,090)        (9,751)
Exceptional item - Business disruption    570             -          2,439
___________________________________________________________________________
Operating Profit/(Loss)                   786          (78)          1,467

Interest Receivable/Payable                53            35             61
___________________________________________________________________________
Profit/(Loss) on ordinary
 activities before tax                    839           (44)         1,529

Tax charge                               (233)           67            215
___________________________________________________________________________
Profit/(Loss) for the Financial Year         
 After Tax                                607            23          1,743

Earnings per Share
Basic                                    0.84p         0.03p          2.43p
Diluted                                  0.80p         0.03p          2.33p

Weighted Average Number of Shares
Basic                              71,964,017    71,743,597     71,753,218
Diluted                            75,724,481    74,513,147     74,785,943



Unaudited Consolidated (Condensed) Balance Sheet
as at 30 September 2006

£'000s                                        At            At          At
                                    30 September  30 September    31 March
                                            2006          2005        2006
___________________________________________________________________________
Goodwill                                   1,248         1,248       1,248
Intangible Assets                              -             -           -
Property Plant & Equipment                 1,687           921         990
Deferred Tax Asset                           411           337         485
___________________________________________________________________________
Non Current Assets                         3,347         2,507       2,723

Inventories                                5,202         1,487       2,564
Trade & Other Receivables                  1,926         1,284       1,877
Cash & Cash Equivalents                    1,160         1,399       3,744
___________________________________________________________________________
Current Assets                             8,289         4,170       8,185

Current Liabilities                       (5,454)       (3,016)     (5,451)

Total Assets less current liabilities      6,182         3,660       5,457

Non Current Liabilities                        -             -           -
___________________________________________________________________________
Net Assets                                 6,182         3,660       5,457
___________________________________________________________________________
Ordinary Shares                            2,520         2,511       2,517
Share premium                              3,259         3,073       3,144
Retained Earnings                            402        (1,924)       (204)
___________________________________________________________________________
Shareholders Funds - Equity                6,182         3,660       5,457
___________________________________________________________________________


Unaudited Consolidated (Condensed) 
Cash Flow Statement
for the six months ended 30 September 2006

                                   6 Months to  6 Months to 12 Months to
£'000s                            30 September 30 September     31 March
                                          2006         2005         2006
_________________________________________________________________________
Cash inflow from operating activities   (1,778)          (9)       2,507

Net Cash Inflow from Returns on             
 Investment and servicing of Finance        53           35           61

Taxation                                     -            -            -

Net Cash Outflow from Investing           
 Activities                               (887)        (687)        (901)

Net cash inflow from the issue of shares    28            -           16
_________________________________________________________________________
Increase/decrease in cash              ( 2,583)        (661)       1,684
_________________________________________________________________________


Consolidated Statement of Changes in Equity
for the six months ended 30 September 2006

                                   6 Months to  6 Months to   12 Months to
£'000s                            30 September 30 September       31 March
                                          2006         2005           2006
                                     ______________________________________
Opening Equity                           5,457        3,594          3,594

Share Option Income Statement Charge        90           43            103
___________________________________________________________________________
Net Income Recognised Directly in Equity    90           43            103

Profit for the period                      607           23          1,743

Allotted Shares                             28            -             16

Total Movement In Equity for the period    725           66          1,862
___________________________________________________________________________
                                         6,182        3,660          5,457
___________________________________________________________________________

Notes to the Accounts


1. The Interim Financial Statements for the 6 months ended 30 September 2006
have been prepared using accounting policies consistent with International
Financial Reporting Standards (IFRS) for the first time. The disclosures
required by IFRS 1 concerning the transition from UK Generally Accepted
Accounting Practice (UK GAAP) to IFRS were detailed in a separate document
entitled 'IFRS RE-STATEMENT 2005/2006'. The next annual Financial Statements of
the Group will be prepared in accordance with International Financial Reporting
Standards as adopted for use in the EU. These Interim Financial Statements are a
condensed set of accounts and are prepared in accordance with the requirements
of IAS 34.


2. The interim accounts for the six months ended 30 September 2006 are unaudited
and do not constitute statutory accounts in accordance with section 240 of the
Companies Act 1985. The financial information for the 6 months ended 30
September 2005 has not been audited but has been extracted from the restated
IFRS compliant financial statements for the 12 months ended 31 March 2006. A
reconciliation between IFRS and UK GAAP results for 12 months to 31 March 2006
has been circulated and is titled 'IFRS RE-STATEMENT 2005/2006'. The auditors
gave an unqualified report on the UK GAAP results. A copy of those financial
statements has been filed with the Registrar of Companies.


3. Segment Analysis

£'000s                                  6 months to  6 months to      Year Ended
                                       30 September 30 September        31 March
                                               2006         2005            2006
Turnover

Geographical analysis of turnover by origin

United Kingdom - Marketing Services             271          283             601

United Kingdom - Internet                    13,910        7,292          16,599

Retailing and advertising

North America                                   267          152             289

Rest of the world                             1,468          618           1,318

                                             15,917        8,345          18,808


4. Basic earnings per ordinary share has been calculated on the group's profit
for the period attributable to shareholders and on the weighted number of
ordinary shares in issue: 71,964,017 (30 September 2005: 71,743,597; 31 March
2006: 71,753,281). Fully diluted earnings per ordinary share has been calculated
on the group's profit for the period attributable to shareholders and on the
weighted number of ordinary shares in issue used for the calculation of earnings
per share above increased by the dilutive effect of potential ordinary shares
from share option schemes 75,724,481 (30 September 2005: 74,513,147; 31 March
2006: 74,785,943).


5. The Interim Report will be posted to all shareholders of the company and
copies will be available upon application to ASOS PLC, 1 Kingsway, London, WC2B
6XD.


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