Final Results

Global Structured Finance Inc
31 May 2006


31 May 2006

Global Structured Finance Inc.

                           Preliminary Announcement

Chairman's Statement

Global Structured Finance Inc., ('Global Structured Finance' or 'the Company')
announces the maiden results for the Company since it was incorporated on 30
November 2004, which includes its admission to AIM in March 2005.

The Company was created to build, largely through investment and acquisition, a
group specialising in the provision of structured financing products and
services.

During the period the Company's Directors explored a number of potential
opportunities, although none have been sufficiently attractive to merit being
put before shareholders. Despite this the Board has continued to review
potential acquisitions and joint venture opportunities.

On 3 April 2006 the London Stock Exchange suspended trading in the Company's
securities on AIM as a consequence of the Company not having completed a reverse
takeover or substantially implemented its investing strategy in accordance with
the timetable specified under AIM Rule 8 relating to investing companies.

Outlook

The Directors are actively evaluating a number of potential transactions at the
present time and remain confident of identifying a suitable acquisition or
investment opportunity to enhance shareholder value by no later than 30
September 2006.

The Board will inform shareholders of progress as it is appropriate to do so.


Graham Porter
Chairman

Profit and Loss Account
For the period ended 31 December 2005

                                                           Note     Period from
                                                                  30.11.2004 to
                                                                     31.12.2005
                                                                          £'000

Administrative expenses                                                   (114)
                                                                          -----

Operating loss                                                            (114)

Interest receivable                                                          8
                                                                          -----

Loss on ordinary activities before taxation                               (106)

Taxation                                                    2                -
                                                                          -----

Loss on ordinary activities after taxation and retained
loss                                                        4             (106)
                                                                          -----

Loss per ordinary share
- basic                                                     3            (0.45)p
                                                                         -------


There were no recognised gains or losses other than the loss for the financial
period.

All the activities of the Company are classed as continuing.


Balance Sheet
At 31 December 2005

                                                            Note    31.12.2005
                                                                         £'000

Current assets
Debtors                                                                      8
Cash at bank                                                               224
                                                                          -----
                                                                           232

Creditors:
Amounts falling due within one year                                        (20)
                                                                          -----

Net current assets, total assets less current liabilities
and net assets                                                             212
                                                                          -----

Capital and reserves
Called up share capital                                                     80
Share premium account                                                      238
Profit and loss account                                                   (106)
                                                                          -----
Equity shareholders' funds                                   4             212
                                                                          -----





Cash Flow Statement
For the period ended 31 December 2005

                                                             Note    Period from
                                                                   30.11.2004 to
                                                                    31.12.2005
                                                                         £'000

Net cash outflow from operating activities                    5           (102)
                                                                          -----

Returns on investments and servicing of finance
Interest received                                                            8
                                                                          -----

Net cash inflow from returns on investments and service of
finance                                                                      8
                                                                          -----

Net cash outflow before financing                                          (94)
                                                                          -----

Financing
Issue of shares                                                            459
Share issue costs                                                         (141)
                                                                          -----

Net cash inflow from financing                                             318
                                                                          -----

Increase in cash                                              6            224
                                                                          -----



Notes to the Preliminary Announcement
For the period ended 31 December 2005

1. Basis of Preparation

The preliminary announcement has been prepared in accordance with applicable
accounting standards and under the historical cost convention.

The Company was incorporated as a Corporation in the Cayman Islands which does
not prescribe the adoption of any particular accounting framework. Accordingly,
the Board have resolved the Company will follow UK Accounting Standards and
apply the Companies Act 1985 when preparing its annual financial statements. The
principal accounting policies are set out in the Company's 2005 annual report
and financial statements.

2. Taxation on Loss on Ordinary Activities

There is no tax charge for the period. The Company does not operate within the
UK and there is no tax arising on its operations.

3. Loss per Share

The calculation of the basic loss per share is based on the loss on ordinary
activities after tax of £106,000 divided by the weighted average number of
ordinary shares in issue during the period of 23,622,222. The impact of the
warrants on the loss per share is anti-dilutive.


4. Reconciliation of Movements in Shareholders' Funds
                                                                    Period from
                                                                  30.11.2004 to
                                                                     31.12.2005
                                                                          £'000

Loss for financial period                                                 (106)
Issue of ordinary share capital (net of issue costs)                       318
                                                                          -----
Net increase in shareholders' funds                                        212
Equity shareholders' funds at incorporation                                  -
                                                                          -----
Equity shareholders' funds carried forward                                 212
                                                                          -----


5. Reconciliation of Operating Loss to Net Cash Outflow from Operating
Activities
                                                                     Period from
                                                                   30.11.2004 to
                                                                    31.12.2005
                                                                         £'000

Operating loss                                                            (114)
Increase in debtors                                                         (8)
Increase in creditors                                                       20
                                                                          -----
Net cash outflow from operating activities                                (102)
                                                                          -----


6. Reconciliation of Net Cash Flow to Movement in Net Funds
                                                                     Period from
                                                                   30.11.2004 to
                                                                    31.12.2005
                                                                         £'000

Increase in cash for the period                                            224
                                                                          -----

Change in net funds resulting from cashflows                               224

Net funds on incorporation                                                   -
                                                                          -----
Net funds carried forward                                                  224
                                                                          -----


7. Analysis of Changes in Net Funds
                                     On         Cash flow           31.12.2005
                          incorporation
                                £'000             £'000                  £'000

Cash at bank                        -               224                    224
                          ----------------------------------------------------



8. Publication of Non-Statutory Accounts

The financial information set out in this preliminary announcement does not
constitute statutory accounts as defined in Section 240 of the Companies Act
1985.

The balance sheet at 31 December 2005 and the profit and loss account, cash flow
statement and associated notes for the period then ended have been extracted
from the Company's 2005 statutory financial statements upon which the auditors'
opinion is unqualified and does not include any statement under Section 237 of
the Companies Act 1985.




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