Interim Statement

Billam PLC
15 August 2000

                                  Billam Plc

              Interim statement for the half year to 30 June 2000


Billam Plc ('Billam' or 'the Company') re-listed on the Alternative Investment
Market on 1 June 2000.  On the same date, the Company recommenced trading as a
pan-European  investment management company focusing on technology  companies.
Key investment criteria for investee companies include:

-    Management team that can demonstrate success in a related market;
-    Competitive advantage in a large and accessible target market; and
-    Innovative product or service that offer significant and quantifiable
     benefits to the customer.

Since  the  Company  recommenced trading, the  directors  have  established  a
multidisciplinary  advisory  panel to assist them  to  generate  and  appraise
potential  investment  opportunities.  Further, the directors  of  Billam  are
currently  in  the  process of establishing a Swiss  subsidiary  in  order  to
improve the Company's access to investment propositions currently under review
in mainland Europe.

Billam  announced  its first investment on 23 June 2000 in  the  pre-flotation
financing  of  IVU Traffic  Technologies  AG  at 10.50 Euros  per share.  This
company  has  since  listed  in  the  Neuer  Markt.  Billam  and  IVU  Traffic
Technologies AG  are currently negotiating a strategic alliance.

The directors of the Company announced on 27 July 2000 at the AGM, held at the
offices  of  Peel  Hunt plc their nominated advisors, that  they  are  in  the
process  of  negotiating several new investments, details  of  which  will  be
announced shortly.

On  7  August 2000, the Company raised £4.0 million through a placing  of  320
million  new  ordinary shares at 1.25 pence per share with Ellis  &  Partners.
These  funds  will be used to develop the directors' strategy of investing  in
technology companies.

The  directors of Billam, having taken advice from the Company's auditors  and
the  Supervisor of the Creditors Voluntary Arrangement ('CVA'),  have  decided
that  it  would  be inappropriate and possibly misleading to  publish  interim
financial statements until the administration of the CVA is complete.   It  is
anticipated  that  the  CVA will be completed by the  end  of  December  2000,
following  which there will be significant adjustments that should  strengthen
the company's balance sheet.

The  directors  are  very satisfied with the progress made  to  date  and  are
confidently predicting a bright future for Billam Plc.


For further information contact:
Peter Hoskins:      [phone]