Interim Results

NMT Group PLC
27 September 2006

27 September 2006



NMT GROUP PLC



INTERIM RESULTS FOR THE SIX MONTHS TO 30 JUNE 2006



NMT Group PLC ('NMT' or 'the Company'), the investing company, announces its
unaudited interim results for the six months ended 30 June 2006.



Highlights:



Investing strategy approved by shareholders at AGM

Recommended all-share offer for the Company by Volvere plc announced on 14
September 2006

Pre-tax loss £0.09m (30 June 2005: £0.5m; 31 December 2005: £1.4m)

Consolidated net assets of £5.8m (30 June 2005: £6.8m; 31 December 2005: £5.9m)

Cash on hand £5.9m (30 June 2005: £6.5m; 31 December 2005: £6.1m)

Basic and diluted loss per share 1.1p (30 June 2005: 5.7p; 31 December 2005:
15.7p)

No dividend proposed





Chairman, Lord Kalms, said:   'I am pleased with the progress made in reducing
the losses of previous years coupled with the opportunity to implement the
company's new investing strategy.'



For further information, please contact:
NMT Group PLC                                                         [phone]
Jonathan Lander, Director

Weber Shandwick Square Mile                                           [phone]
Terry Garrett

About NMT



NMT was floated on the London Stock Exchange in 1997.  It was a manufacturing company until 2004, from
when it became a licensing and development company for safety needle-based medical devices.  In 2006
the NMT board announced the company would become an investing company.  The Company's investing
strategy is to invest, inter alia, in under-performing or failed companies that offer the possibility
of a turnaround.  NMT's largest shareholder is Volvere plc ('Volvere'), which owns 29.9% and which
announced a recommended all-share offer to acquire NMT on 14 September 2006.





EXECUTIVE DIRECTORS' STATEMENT



The Board is pleased to present the interim statement for the six months ending
30 June 2006.



In our preliminary results for the year ended 31 December 2005 your Board
outlined the investing strategy that it believed the company should follow in
future.  We are pleased to report that, on 11 September 2006, shareholders duly
approved that strategy.



We have eliminated all non-essential costs and enabled the company's principal
asset - cash - to be available to execute the company's new strategy. As a
result, we have been able to deliver significantly reduced losses when compared
to previous periods.



The Company's balance sheet remains strong with net assets per share of 66.6p at
the balance sheet date.



On 14 September 2006, a recommended all-share offer for NMT by Volvere plc ('
Volvere') was announced (the 'Volvere Offer').  Since Volvere and NMT share
similar investing strategies and executives, your Board believes that the
acquisition by Volvere will be beneficial in terms of cost savings and in terms
of the resultant increase in the size and range of target investments that a
combined entity would enjoy.



The Independent Directors of NMT, George Wardale and Lex Gold, have recommended
shareholders to accept the Volvere Offer.



Results



Turnover

The company had no turnover during the period (30 June 2005: nil; 31 December
2005: nil).



Loss after tax

The Company's loss after tax for the six months was £0.09m (30 June 2005: £0.5m;
31 December 2005: £1.36m).



Balance sheet

At the end of the period the Company's consolidated net assets were £5.8m (30
June 2005: £6.76m; 31 December 2005: £5.9m) of which cash represented £5.9m (30
June 2005: £6.5m; 31 December 2005: £6.1m).



Outlook

The Independent Non-Executive Directors consider that the Volvere Offer, if
accepted, represents the most attractive way forward for the Company.









Jonathan Lander                                           Nick Lander

Executive Director                                        Executive Director

27 September 2006



CONSOLIDATED PROFIT AND LOSS ACCOUNT


                                                                         
                                                                         1 January to      Year ended 31    
                                                    1 January to 30           30 June           December 
                                                          June 2006              2005               2005
                                                         Continuing      Discontinued       Discontinued
                                                          Unaudited         Unaudited            Audited
                                            Note               £000              £000               £000

Turnover                                                          -                 -                  -

Cost of sales                                                     -                 -                  -

Gross profit                                                      -                 -                  -
Selling and distribution costs                                    -             (153)              (237)
Administration expenses                                       (220)             (526)            (1,123)

Group operating loss                                          (220)             (679)            (1,360)
Exceptional items                                                 -                 -              (336)

Loss before interest                                          (220)             (679)            (1,696)

Interest receivable                                             127               153                293

Loss on ordinary activities before
taxation                                                       (93)             (526)            (1,403)

Taxation on loss on ordinary activities                           -                28                 39


Loss for the financial period                                  (93)             (498)            (1,364)

Loss per ordinary share
Basic and diluted                              9             (1.1)p            (5.7)p            (15.7)p

Loss per ordinary share before
exceptional items                                            (1.1)p            (5.7)p            (11.8)p






There are no recognised gains or losses other than the result for the current
and preceding financial periods.  Accordingly, no statement of total recognised
gains and losses is given.



CONSOLIDATED BALANCE SHEET


                                                         30 June            30 June        31 December 
                                                            2006               2005               2005
                                         Note          Unaudited          Unaudited            Audited
                                                            £000               £000               £000

Fixed assets
Tangible assets                             2                  -                                     -
                                                                          261

Current assets

Debtors                                     4                 56                179                 77
Cash at bank and in hand                                   5,895              6,514              6,090

                                                           5,951              6,693              6,167


Creditors: amounts falling due
within one year                                            (149)              (193)              (183)

Net current assets                                         5,802              6,500              5,984

Total assets less current
liabilities                                                5,802              6,761              5,984

Provisions for liabilities and
charges                                                        -                  -               (89)

Net assets                                                 5,802              6,761              5,895

Capital and reserves
Called up share capital                                   37,187             37,187             37,187
Share premium account                                     38,639             38,639             38,639
Profit and loss account                                 (70,024)           (69,065)           (69,931)

Total shareholders' equity funds            5              5,802              6,761              5,895










CONSOLIDATED CASH FLOW STATEMENT


                                                        1 January           1 January     Year ended 31                 
                                                  to 30 June 2006          to 30 June     December 2005                 
                                         Note          Continuing                2005      Discontinued
                                                                         Discontinued      
                                                        Unaudited           Unaudited           Audited
                                                             £000                £000              £000
Net cash outflow from operating
activities                                  6               (351)               (671)           (1,292)
                                                                                

Returns on investments &
servicing of finance                        7                 127                 181               307

Taxation                                    7                   -                   -                71

Capital expenditure and financial
investment                                  7                  29                 (1)               (1)


Cash outflow before management of
liquid resources and financing                               (195)               (491)             (915)

Management of liquid resources              7                 990                 439               884

Cash inflow/(outflow) before
financing                                                     795                (52)              (31)

Financing                                   7                   -                   -                 -

Increase/(decrease) in cash in
the period                                  8                 795                (52)              (31)





NOTES TO THE INTERIM STATEMENT



1.         The financial information contained in this interim report does not
constitute statutory accounts within the meaning of s240 of the Companies Act
1985, and has not been audited or reviewed.  The interim statement has been
prepared on the basis of accounting policies expected to be applied consistently
for the foreseeable future, of which the principal ones are explained below.
The interim accounts were approved by the directors on 27 September 2006.



2.         Tangible fixed assets



Tangible fixed assets are recorded at purchase cost, together with any
incidental acquisition costs.  Depreciation is charged so as to write off the
cost of the tangible fixed assets less their estimated residual values, on a
straight-line basis over the expected useful economic lives of the assets
concerned.  Provision is made for any permanent diminution in value.



3.          Research and development costs



Research and development costs are written off as incurred.  Employee and other
expenditure relating to trademarks is written off as incurred.



4.          Debtors


                                              30 June             30 June        31 December 
Group and company                                2006                2005               2005
                                            Unaudited           Unaudited            Audited
                                                 £000                £000               £000
Other debtors                                       8                   6                  9
Prepayments and accrued income                      9                  74                 29
Corporation tax recoverable                        39                  99                 39

                                                   56                 179                 77






5.  Reconciliation of movement in shareholders' funds


                                         30 June 2006            30 June        31 December 
                                                                    2005               2005
                                            Unaudited          Unaudited            Audited
                                                 £000               £000               £000

Opening shareholders' funds                     5,895              7,259              7,259
Loss for the period                              (93)              (498)            (1,364)

Closing shareholders' funds                     5,802              6,761              5,895






6.  Reconciliation of operating loss to operating cash flows


                                            1 January           1 January      Year ended 31                            
                                      to 30 June 2006          to 30 June      December 2005
Group                                      Continuing                2005       Discontinued
                                                             Discontinued
                                            Unaudited           Unaudited            Audited
                                                 £000                £000               £000

Operating loss                                  (220)               (679)            (1,360)
Depreciation and goodwill
amortisation                                        -                  41                 81
Gain on disposal of fixed assets                 (29)                   -                  -
Decrease in debtors                                21                  54                109
Decrease in creditors                            (34)                (87)               (96)
Exceptional items                                   -                   -              (336)
Impairment of tangible fixed
assets                                              -                   -                221
Increase/(decrease) in
reorganisation provision                         (89)                   -                 89

Net cash outflow from operating
activities                                      (351)               (671)            (1,292)






7.  Analysis of cash flows


                                            1 January           1 January      Year ended 31                            
                                      to 30 June 2006          to 30 June      December 2005
Group                                      Continuing                2005       Discontinued
                                                             Discontinued
                                            Unaudited           Unaudited            Audited
                                                 £000                £000               £000
Returns on investment and
servicing of finance
Interest received                                 127                 181                307

Net cash inflow from returns on
investments and servicing of
finance                                           127                 181                307

Capital expenditure and financial
investment
Purchase of tangible fixed assets                   -                 (1)                (1)
Sale of tangible fixed assets                      29                   -                  -

Net cash inflow/(outflow) from
capital expenditure and financial
investment                                         29                 (1)                (1)




Taxation
Research and development tax
credit                                              -                   -                 71

Net cash inflow from taxation                       -                   -                 71

Management of liquid resources
Cash returned from short term
deposit                                           990                 439                884

Net cash inflow from management
of liquid resources                               990                 439                884




8.  Analysis and reconciliation of net funds


Analysis of net funds                       1 January           Cash flow            30 June
Group                                            2006                                   2006
                                            Unaudited           Unaudited          Unaudited
Cash in hand at bank                            6,090               (195)              5,895

Net funds at end of period                      6,090               (195)              5,895



Reconciliation of net funds                  30 June             30 June         31 December
                                                2006                2005                2005
                                          Continuing        Discontinued        Discontinued
                                           Unaudited           Unaudited             Audited
Increase/(decrease) in cash in                   
the period                                       795                (52)                (31)

Cash outflow from decrease in                  
liquid resources                               (990)               (439)               (884)
                                                                   

Change in net funds resulting                  
from cash flows                                (195)               (491)               (915)

Net funds at start of period                   6,090               7,005               7,005


Net funds at end of period                     5,895               6,514               6,090




9.  Earnings per share



The basic and diluted losses per share are based on the loss on ordinary
activities after taxation of the company attributable to ordinary shareholders
of £93,000 and on 8,711,317 shares, being the weighted average numbers of
ordinary shares in the period (30 June 2005 and 31 December 2005: 8,711,317).
At the end of the period 8,711,317 (30 June 2005 and 31 December 2005:
8,711,317) ordinary shares were in issue.  FRS14 requires presentation of
diluted EPS when a company could be called upon to issue shares that would
decrease net profit or increase net loss per share.  For a loss making company
with outstanding share options net loss per share would only be increased by the
exercise of out-of-the-money share options.  Accordingly, no adjustment has been
made to diluted EPS for out-of-the-money share options.



10. Dividend



The Board is not recommending payment of an interim dividend for the period
ended 30 June 2006.



11. Distribution of document



Copies of the Interim Results will be sent to the Aim Team and will be
incorporated within the Equivalent Document which will be sent to shareholders
in connection with the Recommended Offer from Volvere plc.




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