Interim Results - Turnover Up 287%

Mondas PLC
14 December 1999

                                     
                                Mondas PLC
                                     
e-Commerce software house announces turnover up 278% and strategic focus on
                     the securities and banking sector

Mondas  PLC ('Mondas' or 'the Company') announces interim results  for  the
six  months  ended 31st October 1999.  Mondas also announces that  it  will
focus  its  UK  efforts on the securities and banking  sector.   This  move
capitalises upon the financial sector experience within the Company and its
successful client relationships including Brewin Dolphin Securities Limited
and Christiania Markets, of Norway.

Key points:

*  287% increase in turnover to £641,678 (1998: £223,945)
*  12%  reduction in pre-tax loss (before amortisation and interest)  to
   £137,839 (1998: £153,846)
*  New clients include BBC Worldwide
*  Larvik  kommune  (Norwegian Local Authority)  recently  launched  its
   Intranet and Internet site based upon IntraLink ST (sale through  Ephorma
   AS)  which  was  hailed as a milestone in kommune services  to  Norwegian
   citizens

Commenting, Chairman, Tim Simon, said:

'The  dramatic increase in our turnover and the number of well known  names
on our client list demonstrates our progress.  In addition, had it not been
for the one-off recruitment costs we incurred, we were almost at break-even
point in the last three months of the period.

'Our  products and skills are ideally suited to the securities and  banking
sector  and I believe that our focus on this market will continue our  plan
for controlled expansion'

For further information:

Tim Simon, Mondas PLC:                                   01932 334 600
Richard Sunderland, GCI Focus:                           0171 398 0800


                                MONDAS PLC
                                     
                  INTERIM REPORT FOR THE SIX MONTH PERIOD
                           ENDED 31 OCTOBER 1999

CHAIRMAN'S STATEMENT

Consolidated Unaudited Financial Results

During  the  period,  turnover grew by 287% to  £641,678  (1998:  £223,945)
accompanied  by  a 11.7% reduction in pre-tax loss before  amortisation  of
goodwill and interest to £137,839 (1998: £156,174).  There was a lower cash
outflow  than in the comparative period and the loss per share was  reduced
to 3.1p (1998: 3.4p).

Goodwill  amortisation increased to £258,000 (1998:  £54,185)  due  to  the
acquisition of Reality Communications Scandinavia AS in November 1998.

During  the period a substantial contract was agreed with Ephorma  AS  (see
below).   It is expected that significant deliveries of product  will  take
place  in  the  second half of the year and therefore the majority  of  the
revenue  received from Ephorma in this period has been treated as  deferred
income.

The Directors have not declared a dividend for the period.

The Company was on the verge of breaking even in the final three months  of
the period excluding recruiting fees relating to the expansion of the sales
and technical teams.

SALES & MARKETING

The Financial Markets and E-Commerce

In the first quarter of the current financial year the Company conducted an
in-depth  review  of  its sales and marketing strategy.   This  led  to  an
increased focus on the UK securities and banking sector, as our bridge-head
strategy,  to  increase  revenues in the financial  vertical  market.  This
market  is particularly attractive to us, leveraging both our pedigree  and
core  competences.   We  have found through existing  clients  like  Brewin
Dolphin  Securities  Ltd  and  Christiania  Markets,  that  our  solutions,
products  and  skills  are ideally suited to address key  business  and  IT
requirements within medium to large securities and banking clients.

Whilst we have the core technology components required for e-business and e-
commerce  in any market, (Internet / intranet / extranet, business  process
control,   workflow,   computer   telephony   integration,   and   business
applications), the financial sector is the first we intend to develop as  a
vertical  market  with  industry-specific  applications  such  as  Web  and
Intranet  Publishing,  Straight  Through Processing  and  Operational  Risk
Management.


Sales Activity

In  the UK, Brewin Dolphin Securities Limited, a long-term client of Mondas
PLC,  continued to use Mondas' consulting, systems integration /  migration
and development expertise, managed by a dedicated project director, and  to
increase  its  competitive edge through our Client Relationship  Management
solution.

We  are delighted to add BBC Worldwide to our client list.  Mondas provided
senior  management consultancy on technical and commercial issues involving
the BBC Worldwide's Web presence.

Norway  is a strengthening region for the Company, with progress in several
key areas.

Our relationship with Ephorma AS, a subsidiary of Telenor AS (the Norwegian
Telecommunications company), has positioned Mondas as the market leader for
Intranet  solutions  for the kommune (Norwegian Local Authorities)  market.
Ephorma  is  the largest Norwegian software house addressing the Government
sector.  In the last few days Larvik kommune has launched its Intranet  and
Internet site, based upon IntraLink ST.  The event was hosted by the  local
Councillor (Lord Mayor) and was very well received by the local  press  and
featured  in two television programmes, hailing it a milestone  in  kommune
services to Norwegian citizens.

Progressing the securities and banking strategy, we continue to develop our
relationship with Christiania Markets, the investment banking branch of  K-
Bank,  Norway's second largest bank. Christiania Markets uses our  products
as  a  platform  for  its  Internet strategy, to provide  an  intranet  and
extranet  service  for  its  client executives, clients  and  investors  to
receive market and investment reports produced by the research analysts  of
Christiana Markets.

Since  the end of the period under review, Mondas has established a working
relationship  with Visma Intraview, to promote IntraLink ST, alongside  its
project  management  packages,  TimeEase  and  TimeEase  Web,  into   large
Norwegian and international corporations.  Visma Intraview is a division of
Visma  Group,  one of Scandinavia's leading software houses with  a  global
presence  providing control systems adapted to commerce, shipping  and  the
public sector.

PRODUCTS

The  focus during this period has been the integration of the products  and
developing applications for the financial sector.

The new Web and intranet publishing module, however, is of particular note.
It  enables  non-technical users to publish news and information  to  their
intranet or website directly from desktop applications, such as Microsoft's
Word, controlled by a workflow process, such as authorisation.  It is  this
module that is deployed at Christiania Markets.

RECRUITMENT

We  have  recruited  a number of sales and technical personnel  during  the
period  with  proven expertise in e-Commerce, securities and  banking.   We
shall continue to recruit in line with our expansion programme both in  the
UK and Norway.


DIRECTORS

Matthew  Crook  joined the team just prior to the start of  the  period  as
Director of Sales & Marketing.  He was appointed to the Board of Mondas PLC
on 14 September 1999.

Since  the end of the period Tony Marienthal, who wishes to return  to  his
native California, resigned as a director but continued as a consultant  to
the  company,  working on the BBC Worldwide contract. His intention  is  to
establish a business which will act as a Mondas software products  reseller
in the USA.  In light of this development, we do not intend to maintain our
own presence in the USA but will instead transfer ownership of IntraLink ST
Inc to Mr Marienthal for a consideration of £1 so that this company can act
as our reseller.

YEAR 2000 ISSUES
The  Company's products, Intralink ST, Radica and Radicall were all created
with  a clear understanding of the Year 2000 issue and were built with  the
millennium  in  mind.  The Company has been advised by the  relevant  third
parties  that  the products which work alongside ours, such as  the  object
database, ObjectStore from Object Design Inc, are Year 2000 compliant.   It
is  the  Directors'  belief that the risks of the Year 2000  issue  to  the
Company  are  minimal and there are no associated costs  foreseen  at  this
time.

FUTURE PROSPECTS

We  are in the process of a sales campaign targeted to organisations in the
financial  sector  which we have identified as likely to benefit  the  most
from our products and services.   The combined skills and finance industry-
specific experience of Mondas's consultants make a formidable team whom  we
believe are more than capable of achieving a satisfactory market share.

The  Directors  are  confident that the rapidly growing e-business  and  e-
broking  market, within the financial sector, will reap benefits  from  the
tailored  solutions  and applications developed on the building  blocks  of
Mondas's skills and Internet, workflow and telephony technologies.

We  plan  steady growth through this clearly defined focus. As we  pick  up
momentum,  we  intend  to address additional new markets  in  a  controlled
programme of expansion.

Geographically, we shall continue to exploit our position as market  leader
in  intranet  software to Norwegian local authorities and focus  on  market
share  within  the UK. We will remain in touch with the US market  but  any
business  secured will be serviced from the UK office until we  can  expand
our presence safely across the world.

We will continue to look for joint venture opportunities and growth through
the acquisition of complementary skills, technologies and clients.

You  may like to visit the Mondas web site www.mondas.com. In the new  year
we  will be launching a new Investor Relations section in the website.   As
ever we welcome feedback through the site.


Tim Simon
Chairman

14 December, 1999


INDEPENDENT REVIEW REPORT

TO MONDAS PLC

FOR THE SIX MONTHS ENDED 31 OCTOBER 1999


Introduction
We  have been instructed by the company to review the financial information
set  out  on pages 6 to 9, and we have read the other information contained
in  the  interim  report  and considered whether it contains  any  apparent
misstatements  or  material  inconsistencies  with  the  interim  financial
information.

Directors' responsibilities
The  interim report, including the financial information contained therein,
is  the  responsibility  of, and has been approved by  the  directors.  The
Listing  Rules  of  the London Stock Exchange require that  the  accounting
policies  and  presentation  applied  to  the  interim  figures  should  be
consistent  with  those applied in preparing the preceding annual  accounts
except where any changes, and reasons for them, are disclosed.

Review work performed
We  conducted our review in accordance with guidance contained in  Bulletin
1999/4   issued  by  the  Auditing  Practices  Board.   A  review  consists
principally of making enquires of group management and applying  analytical
procedures to the financial information and underlying financial  data  and
based  thereon, assessing whether the accounting policies and  presentation
have  been  consistently  applied  unless  otherwise  disclosed.  A  review
excludes  audit  procedures such as tests of controls and  verification  of
assets,  liabilities and transactions. It is substantially  less  in  scope
than an audit performed in accordance with Auditing Standards.  Accordingly
we do not express an audit opinion on the financial information.
   
Review conclusion
On  the  basis of our review we are not aware of any material modifications
that  should be made to the financial information as presented for the  six
months ended 31 October 1999.


The Wells Partnership
Chartered Accountants
The Old Rectory
Church Street
Weybridge
Surrey
KT13 8DE

Date: 14 December 1999

MONDAS PLC

CONSOLIDATED PROFIT AND LOSS ACCOUNT

FOR THE 6 MONTHS ENDED 31 OCTOBER 1999

                       6 months      6 months      12 months
                         ended        ended           ended
                 31 October 1999  31 October 1998 30 April 1999
                       Unaudited    Unaudited       Audited
                            £            £              £

Turnover                641,678      223,945         955,301

Cost of sales          (244,756)    (149,941)       (244,056)
                                          

Gross profit            396,922       74,004         711,245

Distribution and administrative
expenses               (792,761)    (284,363)     (1,242,004)
                                          

Operating loss         (395,839)    (210,359)       (530,759)

Interest receivable       5,749        2,355           9,989
                                          

Loss before taxation   (390,090)    (208,004)       (520,770)

Taxation                      -            -             692
                                          

Loss for period        (390,090)    (208,004)       (520,078)

Profit and loss account
brought forward      (1,425,592)    (905,514)       (905,514)
                                    
Profit and loss account
carried forward      (1,815,682)  (1,113,518)     (1,425,592)
                                    

Loss per share             (3.1p)       (3.4p)          (5.7p)
                                               


There  are  no recognised gains or losses for the above periods other  than
the trading losses.

None of the group's activities were acquired or discontinued in the current
financial period.

MONDAS PLC

CONSOLIDATED BALANCE SHEET AT 31 OCTOBER 1999

                      At 31 October         At 31 October         At 30 April
                         1999                  1998                1999
                       Unaudited            Unaudited             Audited
                     £         £           £        £           £      £

FIXED ASSETS
Intangible                  1,782,481              298,033            2,040,481
Tangible                       43,728               35,133               60,961
                                       

                            1,826,209              333,166            2,101,442
CURRENT ASSETS
Stocks              4,132                   9,684              1,177
Debtors           290,647                 143,859            242,721
Cash at bank 
 and in hand      117,377                  40,406            245,286
                                   

                  412,156                 193,949            489,184
CREDITORS:  Amounts
 falling due within 
  one year       (262,013)               (156,788)          (225,218)
                                   
Net current assets            150,143               37,161             263,966
                                       

NET ASSETS                  1,976,352              370,327           2,365,408
                                       

CAPITAL AND RESERVES
Called up share capital     1,261,185              611,175           1,257,740
Share premium account       2,530,849              872,670           2,533,260
Profit and loss account    (1,815,682)          (1,113,518)         (1,425,592)
                                       

SHAREHOLDERS' FUNDS         1,976,352              370,327           2,365,408
                                       

The interim accounts were approved by the Board of Directors on 14 December
1999 and signed on its behalf by:



Tim Simon
Chairman

MONDAS PLC

CONSOLIDATED CASH FLOW

STATEMENT FOR THE SIX MONTHS ENDED 31 OCTOBER 1999

                               6 months      6 months      12 months
                                  ended        ended          ended
                        31 October 1999  31 October 1998   30 April 1999
                              Unaudited     Unaudited        Audited
                                   £              £              £
RECONCILIATION OF OPERATING
LOSS TO NET CASH OUTFLOW

Operating loss              (395,839)      (210,359)         (530,759)
Depreciation                  14,052         10,695            27,451
Amortisation                 258,000         54,185           289,687
Movement in stocks            (2,955)        (9,628)           (1,121)
Movement in debtors          (47,926)       (79,666)         (150,135)
Movement in creditors         36,795         92,851           (40,319)
                                          
Net cash outflow from
operating activities        (137,873)      (141,922)         (405,196)
                                          

CASH FLOW STATEMENT

Net cash outflow from
operating activities        (137,873)     (141,922)          (405,196)

Returns on investments and
servicing of finance           5,749         2,355              9,989

Capital expenditure            3,181        (5,251)           (34,651)

Acquisitions and disposals       -              -              13,267
                                          

Cash outflow before 
 financing                  (128,943)     (144,818)          (416,591)

Financing - issue of shares    1,034             -            476,653
                                          

(Decrease)/increase 
  in cash                   (127,909)     (144,818)            60,062
                                          

ANALYSIS OF MOVEMENTS IN CASH AT BANK AND IN HAND

Balance at beginning 
  of period                  245,286       185,224           185,224

Net cash (outflow)/inflow   (127,909)     (144,818)           60,062
                                          

Balance at end of period     117,377        40,406           245,286
                                          
MONDAS PLC

NOTES TO THE INTERIM RESULTS

FOR THE 6 MONTHS ENDED 31 OCTOBER 1999


1.   RESULTS
     
     The results for the period have been prepared on a historical cost basis
     using  the  accounting policies adopted by the group in its  financial
     statements for the year ended 30 April 1999, and in accordance with the
     Statement on Interim Reports issued by the Accounting Standards Board.

2.   CONSOLIDATED ACCOUNTS

     The  consolidated accounts represent the results of Mondas Plc and its
     100%  wholly owned subsidiaries Mondas Information Technology Limited,
     Reality Communications Scandinavia AS (a company registered in Norway)
     and Reality Communications (Internet) Limited for the six months ended
     31  October  1999. The interim results are unaudited,  but  have  been
     reviewed  by the auditors in accordance with the guidance set  out  in
     Bulletins 1999/4, 'Review of Interim Financial Information,' issued by
     the Auditing Practices Board.

3.   DIVIDENDS

     The directors are not declaring a dividend for the six months ended 31
     October 1999.

4.   LOSS PER SHARE

     Basic  loss per share is based on the loss attributable to the members
     at Mondas PLC and on the weighted average number of shares outstanding
     throughout  the 6 months ended 31 October 1999 of 12,577,963  (1998  -
     weighted average number of 6,111,731 shares). No material dilution  of
     loss  per  share  would arise if all outstanding  share  options  were
     exercised.

5.   GOING CONCERN

     
     The  Directors have reviewed the sales pipeline in conjunction with  a
     review  of  working capital sources and are satisfied that  sufficient
     funds are available for the companies' operations until beyond the end
     of the current accounting period.
     
     The  financial  statements have therefore been  prepared  on  a  going
     concern basis.

6.   POST BALANCE SHEET EVENTS

     There have been no material post balance sheet events.