Final Results

TARPAN PLC
14 July 1999

                                  Tarpan plc
                                       
                              Preliminary Results
                                       
Chairman's Statement
                                       
During the financial period under review, the Non-executive Directors of  your
company  received a proposal from the Executive Directors under which Harlspun
Limited, a Company owned by the Executive Directors and others, would  acquire
the  whole  of the business and assets (other than book debts) of the  Company
and  would also assume all of its liabilities. The consideration proposed  was
£850,000 in cash payable on completion with a further sum in cash payable  two
months  after  completion equal to the amount (if any) by which the  Company's
book debts realised during that two month period fell short of £850,000. Under
the proposal if the amount realised from the book debts exceeded £850,000, the
Company would pay the excess to Harlspun.

After due consideration, the Non-executive Directors decided that the sale  of
the  Company's paper spinning, weaving and property activities was in the best
interests  of shareholders as such activities, by nature and size,  were  more
suited to being private than remaining part of a quoted public company.

Full  details of the transaction were circulated to shareholders on  15  March
1999  (together with a proposal to change the Company's name from SOMIC p.l.c.
to  TARPAN  PLC). The disposal of the business and assets, together  with  the
change  of name, was approved at an Extraordinary General Meeting on  7  April
1999.

Following  completion, Jonathan Marsh and John Thornley resigned as  Directors
of  the  Company. Richard Blackburn resigned as Chairman and Managing Director
but  remains a Non-executive Director. Richard Lascelles, who is also  a  Non-
executive  Director,  replaced  Dorothy  Holt  as  Company  Secretary.  I  was
appointed Chairman.

During  the  financial  period to 7 April 1999,  the  businesses  disposed  of
generated  an operating profit of £243,000 (1998 - £310,000) on a turnover  of
£6,420,000  (1998 - £5,968,000). After exceptional losses on the  disposal  of
£1,014,000, the Company made a loss before taxation of £792,000 (1998 - profit
of £294,000).

As  a  result of this transaction, your Company had net assets at 7 April 1999
of approximately £1,592,000. The book debts realised following the transaction
exceeded  £850,000  and your Company now has £1,585,000 on  deposit  with  its
bankers.

During  the  financial period to 7 April 1999, your Directors paid an  interim
dividend of 1.375p per share. No final dividend is recommended.

We  are  now actively researching and investigating acquisition opportunities.
Until such an opportunity arises, the Company's cash will be invested in  gilt
edged  stock  or  the  money  markets with a  view  to  generating  sufficient
investment income to cover overheads which are now minimal.

Any  classifiable transaction (as defined in the Stock Exchange Listing Rules)
will  require shareholder approval and any acquisition, which will itself need
to  be  suitable for admission to the Official List, will constitute a reverse
takeover  which may lead to the temporary suspension of the Company's ordinary
shares.

N D Buch
Chairman

14 July 1999


Consolidated Profit and Loss Account
for the period ended 7  April 1999

                             1999       1999       1998       1998
                                                                  
                                £          £          £          £
Turnover                           6,420,439             5,968,036
Operating costs                   (6,177,025)           (5,657,978)
                                                                   
Operating profit                     243,414               310,058
Exceptional items                                                  
Loss on disposal of                                                
fixed assets             (233,672)                    -

Loss on disposal of                                                
investments
                         (108,290)                    -           
Loss on disposal of                                                
discontinued operations  (671,559)                    -

                                  (1,013,521)                    -
Income from fixed asset                                            
investments                           50,802     50,802     66,806
Other interest                                                     
receivable and similar
income                                 1,480                    25
                                    (717,825)              376,889
Interest payable and                                               
similar income                       (73,750)              (83,374)
                                                                   
(Loss)/profit on                                                   
ordinary activities
before taxation                     (791,575)              293,515

Taxation                              94,715               (77,362)
                                                                   
(Loss)/profit for the               (696,860)              216,153
financial period  
                                                                  
Dividends                           (29,150)               (69,960)
                                                           
Retained (loss)/profit                                     
for the financial
period transferred
(from)/to reserves                 (726,010)               146,193
                                                                
Earnings per share                                                
Basic - FRS3                         (32.87)p                10.02p
Excluding exceptional                                             
items                                 11.18p                 10.02p

                                                                  
All amounts relate to discontinued operations
The Group had no recognised gains or losses other than the loss for the
period

                                       
Note of Historical Cost Profits and Losses
for the period ended 7 April 1999

                                                   1999       1998
                                                      £          £
Reported (loss)/profit on ordinary                         293,515
activities before taxation                     (696,860)   293,515
         
Difference between a historical cost                              
depreciation charge and actual depreciation
charge for the period calculated on the
revalued amount                                   6,913      7,006
                                                                  
Historical cost (loss)/profit on ordinary      (689,947)   300,521
activities before taxation                            
                                                                  
Historical cost (loss)/profit for the period   (624,382)   153,199
retained after taxation and dividends       
                                                                  
Balance Sheets
at 7 April 1999

                                     Company      Group    Company
                                        1999       1998       1998
                                           £          £          £
Fixed assets                                                      
Tangible assets                            -  1,458,399  1,436,109
Investments                                -     50,125    196,127
Deferred asset                             -     10,203     10,203
                                           -  1,518,727  1,642,439            
                                                    
Current assets                                                    
Stocks                                     -  1,327,861    921,125
Debtors                              850,000  1,465,513  1,041,922
Cash at bank and in hand             850,000     68,614     14,243
                                   1,700,000  2,861,988  1,977,290
                                                                  
Creditors - amounts falling due      108,254  2,062,959  1,483,493
within one year  
                                                                  
Net current assets                 1,591,746    799,029    493,797
                                                           
Total assets less                                                 
current liabilities
                                   1,591,746  2,317,756  2,136,236
                                                                  
Net assets                         1,591,746  2,317,756  2,136,236
                                                                  
Capital and reserves                                              
Called up share capital              530,000    530,000    530,000
Share premium account                 69,600     69,600     69,600
Investment property revaluation            -    454,101    454,101
reserve
Revaluation reserve                        -    210,314    210,314
Profit and loss account              992,146  1,053,741    872,221
                                                                  
Shareholders' funds                1,591,746  2,317,756  2,136,236


Approved by the Board on 13 July 1999

N D Buch, Director

R Blackburn, Director



Consolidated Cash Flow Statement
For the period ended 7 April 1999

                            1999                     1998
                               £           £          £          £
Cash flow from                                                    
Operating activities                 156,221               109,216
                                                                  
Returns on                                                        
investments
and servicing of                                                  
finance
Interest received          1,480                     25           
Interest paid            (80,701)               (63,471)           
Income from fixed                                                 
asset investments         50,802                 66,806           

Net cash (outflow)/                                               
inflow from returns
on investments and
servicing of finance                (28,419)                 3,360
                                                                  
Taxation                                                          
Corporation tax paid     (54,344)               (11,887)           
Advance corporation                                               
tax paid                 (17,490)               (15,525)           
Net cash outflow from                                             
taxation                            (71,834)               (27,412)
                                                                  
Capital expenditure                                               
and
financial investments
                                                                  
Payments to acquire                                               
tangible fixed assets   (134,683)              (258,052)           
       
Receipts from sales                                               
of tangible fixed 
assets                 1,145,750                 28,340           
                                                                  
Net cash inflow/                                                  
(outflow) from
capital expenditure
and financial
investments                       1,011,067               (229,712)
                                                                  
Acquisitions and                                                  
disposals                           656,312                      -
                                                                  
Equity dividends paid               (69,960)               (66,250)
                                                                  
Increase/(decrease)                                               
in cash in the period             1,653,387               (210,798)