Interim Results

MediaZest plc
26 August 2005

                                 MediaZest Plc
             Interim results for the six months ended 30 June 2005

                              CHAIRMAN'S STATEMENT


Introduction

The results for MediaZest Plc (the 'Company', and collectively with the
subsidiary company, the 'Group') reflect the six-month period to 30 June 2005.
They incorporate the results of its only subsidiary MediaZest Ventures Limited,
which is wholly owned. The Company completed a successful placing of 2,874,330
ordinary shares on 22 February 2005. The gross proceeds of the placing were £1.4
million and the ordinary shares were admitted to trading on AIM on 22 February
2005.

Results for the Period

Turnover for the period was £29,500 and the Group made a loss for the period,
after taxation, of £304,693 after receiving interest of £23,100 and having paid
administrative expenses of £333,506. The basic loss per share was 3 pence and 3
pence on a fully diluted basis. The Group had cash balances of £1,105,433 at the
period end.

Review of Activities

The Group continues to make significant progress. Major pitches have been
completed for a number of international retailers and revenues are beginning to
be generated.  The focus during this period has been on securing further
exclusive licences, developing a sales pipeline and progressing corporate
activity.

The portfolio of solutions the Group can now offer includes 3D TV and
Holographic Display.  Increasingly the Group is being invited to jointly pitch
for business with major design companies working for both retailers and brand
owners.  The prospect of having our solutions integrated early in the
re-development of retail environments is bringing a considerable volume of new
business development opportunities.

The Company has also announced today that agreement has been reached on the
proposed acquisition of Touch Vision Limited and that the Company is proposing
to raise £2,000,000 (before expenses) by means of a share placing.



John Lovering
Chairman
26 August 2005


CONSOLIDATED PROFIT AND LOSS ACCOUNT


                                                            Unaudited
                                                     Six months ended
                                                          30 Jun 2005
                                                                    £
Turnover                                                       29,500
Cost of sales                                                (23,787)
                                                            ---------
Gross profit                                                    5,713
Administrative expenses                                     (333,506)
                                                            ---------
Operating loss                                              (327,793)

Interest receivable and investment income                      23,100
                                                            ---------
Loss on ordinary activities before taxation                 (304,693)

Tax on ordinary activities (note 2)                                 -
                                                            ---------
Retained loss for the period                                (304,693)
                                                            =========
Loss per ordinary 10p share (note 3)
-  basic                                                      3 pence
-  diluted                                                    3 pence



CONSOLIDATED BALANCE SHEET


                                                          Unaudited
                                                        30 Jun 2005
                                                                  £

Fixed assets
Intangible assets                                           115,110
Tangible assets                                               7,508
                                                          ---------
                                                            122,618
                                                          ---------
Current assets
Stock                                                        89,400
Debtors                                                     137,159
Cash at bank and in hand                                  1,105,433
                                                          ---------
                                                          1,331,992

Creditors: amounts falling due within one year            (133,137)
                                                          ---------
Net current assets                                        1,198,855
                                                          ---------

                                                          ---------
Total assets less current liabilities                     1,321,473
                                                          =========
Capital and reserves
Called up share capital                                   1,370,768
Share premium account                                       298,882
Profit and loss account                                   (348,177)
                                                          ---------
                                                          1,321,473
                                                          =========



CONSOLIDATED CASH FLOW STATEMENT


                                                                       Unaudited
                                                                Six months ended
                                                                     30 Jun 2005
                                                                               £
Net cash outflow from continuing operating activities                  (440,215)

Returns on investments
Interest received                                                         23,100

Capital expenditure
Purchase of tangible assets                                              (8,686)

Acquisitions
Purchase of subsidiary undertaking                                             -

                                                                       ---------
Net cash outflow before financing                                      (425,801)
                                                                       ---------
Financing
Issue of shares net of costs                                           1,002,983
                                                                       ---------
Increase in cash in the period                                           577,182
                                                                       =========

Reconciliation of operating loss to net cash outflow from
operating activities
Operating loss                                                         (327,793)
Depreciation and amortisation                                              2,635
Increase in stocks                                                      (89,400)
Increase in trade debtors                                              (118,201)
Increase in trade creditors                                               92,544
                                                                       ---------
Net cash outflow from operating activities                             (440,215)
                                                                       =========



NOTES

1.   Basis of preparation

The interim report for the six month period to 30 June 2005 is unaudited and
does not constitute statutory accounts within the meaning of section 240 of the
Companies Act 1985.  It has been prepared under the historical cost convention
and on a basis consistent with the accounting policies for the period ended 31
December 2004

2.   Taxation

No charge for corporation tax for the period has been made due to the expected
tax losses available.

3.   Loss per share

Basic and diluted earnings per share are presented in accordance with FRS14 
'Earnings per share' based on the loss for the period of £304,693 and the
following weighted average number of ordinary shares.

                                                          Unaudited
                                                       Period ended
                                                        30 Jun 2005

Weighted average number of shares:
Basic                                                    10,966,616
Dilutive effect of warrants                                 833,333
                                                          ---------
Weighted average number of shares - diluted              11,799,949
                                                          =========


Enquiries:

  Sean Reel, MediaZest Plc                                         020 7499 8334
  Nigel Duxbury, MediaZest Plc                                     020 7499 8334
  Liam Murray, City Financial Associates Limited                   020 7090 7800



                      This information is provided by RNS
            The company news service from the London Stock Exchange