Final Results

Maintel Holdings PLC
11 March 2005


Maintel Holdings Plc

Preliminary results for the year ended 31 December 2004

Maintel Holdings Plc, the telecoms services company, announces preliminary
results for the year ended 31 December 2004.


Financial and business highlights

Company floated on AIM on 20 December 2004

Turnover up 7% to £11.542m (2003: £10.764m)

Profit before tax and float costs up 16% to £1.574m (2003: £1.352m)

Earnings per share before float costs of 8.2p (2003: 7.1p)

Cash balances at year-end of £3.411m (2003: £2.288m)


Chairman's statement

I am pleased to present Maintel's first Annual Report as a listed company and to
report another year of satisfactory growth for the Group.

Maintel Holdings Plc was admitted to the Alternative Investment Market on 20
December 2004 by way of a placing of 4,757,246 ordinary shares with
institutional and private investors.

Summary of performance

Aggressive pricing of maintenance services by some of our competitors during
2004 resulted in comparatively low levels of new maintenance business signed,
especially in the first half of the year. In spite of this, existing customer
growth together with increased equipment sales and growth in the voice and data
business all contributed to an increase in the Group's profitability.

For the year as a whole, the Group generated revenues of £11.542m, 7% up on
2003, and profit before tax and the costs of the AIM listing of £1.574m, an
increase of 16%.

The Group's balance sheet strengthened during the year with net assets
increasing from £808,000 to £1,197,000. A dividend of £406,000 was paid in
January 2004 and the one off costs of admission to AIM totalling £309,000 were
absorbed in December 2004. Cash balances totalled £3.411m at year-end.

The Company remains committed to its policy of paying a significant dividend to
shareholders and expects to maintain annual dividend payments at about 40% of
post-tax earnings. The next dividend is expected to be in respect of the six
months to 30 June 2005.

Future Prospects

The public listing of your Company has further raised its profile and standing
as one of the UK's leading independent national telecommunications maintenance
companies. The range of equipment we maintain and our national reach give us a
strong commercial advantage. Although pricing remains competitive in some
sectors, tendering activity for new business is currently brisk and the Company
has recently secured a significant new contract with a government department.

Your Company actively monitors developments in the telecommunications services
industry and keeps under constant review its product and service offering to its
7,000-strong customer base. We are currently developing Voice Over IP (VoIP)
offerings for our customers and expect to launch these during 2005. We also
anticipate broadening our expertise to cover a wider range of IT products during
the year.

On behalf of the Board and shareholders, I would like to express my thanks to
Maintel's loyal and energetic staff. The Company's performance in 2004 and its
successful debut on AIM are due to their hard work and enthusiasm. We are
confident that the Company is well positioned for future growth.


J D S Booth
Chairman

10 March 2005

Maintel Holdings Plc

Consolidated profit and loss account
for the year ended 31 December 2004

                                                           2004           2003
                                                          £'000          £'000


Turnover                                                 11,542         10,764

Cost of sales                                             6,901          6,419
                                                        -----------------------
Gross profit                                              4,641          4,345
-------------------------------------------------------------------------------
General administration expenses                           3,187          3,041
Cost of AIM listing                                         309              -
-------------------------------------------------------------------------------
Administrative expenses                                   3,496          3,041
                                                        -----------------------
Operating profit                                          1,145          1,304

Interest receivable                                         120             57
Interest payable and similar charges                          -             (9)
                                                        -----------------------
Profit on ordinary activities                             1,265          1,352
before taxation
                                                        -----------------------
Taxation on profit on                                       470            390
ordinary activities
                                                        -----------------------
Profit on ordinary activities                               795            962
after taxation

Dividends                                                   406            301
                                                        -----------------------
Retained profit for the year                                389            661
                                                        =======================

The profit and loss account contains all gains and losses recognised in the year
and all amounts relate to continuing operations.


Maintel Holdings Plc

Consolidated profit and loss account
for the year ended 31 December 2004 (continued)

                                                              2004        2003

Earnings per share

Basic and diluted (2003 restated for share capital
changes - note 2)                                              5.9p        7.1p
                                                         ======================
Adjusted - as above but excluding cost of AIM listing          8.2p        7.1p
                                                         ======================
Dividend per share
(2003 restated for share capital changes)                      3.0p        2.2p
                                                         ======================

Maintel Holdings Plc

Consolidated balance sheet
as at 31 December 2004

                                 2004          2004        2003          2003
                                £'000         £'000       £'000         £'000
Fixed assets
Tangible assets                                 264                       314

Current assets
Stocks                            636                       899
Debtors                         2,050                     2,285
Cash at bank and in hand        3,411                     2,288
                            ---------                 ---------
                                6,097                     5,472
                            ---------                 ---------
Creditors: amounts              
falling due within one year     2,120                     1,809
                            ---------                 ---------

Net current assets                            3,977                     3,663

Deferred income                              (3,044)                   (3,169)
                                           ---------                 ---------
Net assets                                    1,197                       808
                                           =========                 =========

Capital and reserves
Called up share capital                         135                        12
Share premium                                   628                       751
Capital redemption reserve                        1                         1
Profit and loss account                         433                        44
                                           ---------                 ---------
Shareholders' funds - equity                  1,197                       808
                                           =========                 =========


Maintel Holdings Plc

Consolidated cash flow statement
for the year ended 31 December 2004

                                                           2004          2003
                                                          £'000         £'000

Reconciliation of operating profit to net
cash inflow from operating activities

Operating profit                                          1,145         1,304
Depreciation charge                                         196           207
Decrease in stocks                                          263           121
Decrease/(increase) in debtors                              248          (273)
Increase in creditors                                        44           417
                                                        ----------------------
Net cash inflow from operating activities                 1,896         1,776
                                                        ======================

Cash flow statement
-------------------

Net cash inflow from                                      1,896         1,776
operating activities

Returns on investments and
servicing of finance
Interest received                                           120            57

Taxation
Corporation tax                                            (341)         (218)

Capital expenditure and financial
investment
Payments to acquire tangible                               (146)         (127)
fixed assets

Equity dividends paid                                      (406)         (301)
                                                        ----------------------
Increase in cash in the year                              1,123         1,187
                                                        ======================



Maintel Holdings Plc

Consolidated cash flow statement
for the year ended 31 December 2004 (continued)


Reconciliation of net cash flow to movement in net cash


                                                             2004         2003
                                                            £'000        £'000

Increase in cash in the year                                1,123        1,187

Net cash at 1 January 2004                                  2,288        1,101
                                                        ----------------------
Net cash at 31 December 2004                                3,411        2,288
                                                        ======================

     
1.   The abridged financial information set out above has been extracted from
     financial statements approved by the directors on 10 March 2005, which 
     received an unqualified report by the Company's auditors, and which will be 
     delivered to the Registrar of Companies following the Company's annual 
     general meeting. The financial information does not constitute statutory 
     accounts as defined in section 240 of the Companies Act 1985, and has been 
     prepared on the basis of the accounting policies set out in the financial 
     statements for the year ended 31 December 2003.
     
2.   Earnings per share

     The calculation of basic earnings per share is based on a profit after tax 
     of £795,000 (2003: £962,000) and a weighted average of 13,516,800 (2003:
     13,516,800, restated for share split and bonus issue in 2004) shares in 
     issue. The calculation of the adjusted earnings per share adds back the 
     £309,000 cost of the Company's AIM listing to the £795,000 noted above. 
     There are no share options in existence which would result in a dilution to 
     basic earnings per share.
     
3.   The annual report and accounts will be posted to shareholders on 25 March 
     2005 and copies will also be available on request from the Company's
     registered office at 61 Webber Street, London SE1 0RF.

Ends


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