Interim Results

Netcall PLC
17 February 2004


                                        NETCALL PLC

                         INTERIM RESULTS FOR THE SIX MONTHS
                                TO 31 DECEMBER 2003

Netcall sells telephony solutions including its innovative flagship product,
QueueBusterTM, which enable call centres to manage call queuing, reduce costs
and enhance customer service.

*          First half revenue held back by longer than expected sales cycle of
           QueueBuster

*          Increased revenue streams from maintenance contracts

*          Balance sheet strengthened by share option take-up by Committed
           Capital

*          QueueBuster Service successfully launched for smaller clients,
           revenues growing

*          Distribution agreement signed with CTC in Japan

*          New Chief Executive, with valuable international and industry
           experience, appointed

*          Second half of year started more positively


Ron Elder, Chairman of Netcall, said today:

'The long lead times for QueueBuster held back our performance in the first six
months of the year but the second half has started with an increased number of
orders being placed.  Furthermore, QueueBuster Service with per-call charging
for smaller call centres has been successfully launched and is developing
positively. It significantly increases Netcall's market opportunity and will
provide a more consistent and predictable revenue stream.

'There have also been a number of key strategic developments for Netcall over
the last few months.  Since we do not have sufficient resources to distribute
our products globally, the recent distribution agreement with CTC in Japan is a
critical development as a number of our clients are looking for global access
and support, we anticipate similar arrangements will follow on.

'The take up by Committed Capital of its option entitlement has also
substantially strengthened the Group's balance sheet. The Group is adequately
funded to meet current operating and business requirements with a current cash
balance of £1.3 million.'

                                                                17 February 2004


ENQUIRIES:


Netcall plc (www.netcall.com)                                 Tel: [phone]
Ron Elder, Chairman
Henrik Bang, Chief Executive

College Hill                                                  Tel: [phone]
Adrian Duffield/Corinna Dorward


Trading Results

Although revenues and profitability declined over the period, the first half of
the year has seen considerable business development activity and by the end of
December Netcall had several international trials underway. These trials are
still ongoing and the Group expects to capture orders from them in due course.

Revenues for the first half to 31 December 2003 were £666,268 compared to
£829,409 for the same period in 2002.  There were a number of repeat orders from
existing customers and a new customer, Legal and General Insurance.

Typical QueueBuster contracts are signed for a three-year period and these
results demonstrate the growing revenue stream from maintenance contracts. At 31
December 2003, Netcall had contracted future revenues of £1.3 million. The
balance sheet only reflects £523,078 (2002: £271,399) of this as deferred
income, of which £343,710 will be executed in the remainder of the current
financial year.

In the second quarter to December 2003 the Group modestly increased its
operating cost base to facilitate planned investment in domestic and overseas
operations. In the six months ended 31 December 2003, the Group reported a
pre-tax loss of £727,233 (2002: pre-tax loss £490,262) and a loss per share of
1.3p (2002: loss per share 0.92p).

Netcall has continued to develop its principal call centre technology product,
QueueBuster, which cuts queues by enabling callers to request a call back
without losing their place in the queue.  In November, QueueBuster Service (QBS)
was launched as a significant addition to the range of QueueBuster options.

QueueBuster customers need to install equipment, which requires substantial
capital outlay.  QBS, which is charged on a subscription per-call basis, is a
hosted service for typically smaller call centre customers.  It does not require
additional on-site hardware, allowing customers to benefit from QueueBuster
functionality without any capital outlay. These smaller centres represent over
75% of the UK market.  The launch of QBS will significantly increase Netcall's
market opportunity and the shorter sales cycle will provide the Group with a
more reliable and predictable revenue stream.  Initial take-up of the service
has been promising and already a number of regional call-centres have signed up
including Bournemouth & West Hampshire Water and Apex Hotels.

Netcall also continues to support and develop the other products in its
portfolio including NetCall 800 and Intelligent Number in order to capitalise on
the Group's experience with call-back technology and intelligent telephony
systems.

Distribution agreements

As planned, Netcall has sought out international distribution partners and a
number of negotiations progress productively.

The first such agreement has been reached through Netcall Asia Pacific, which
has appointed leading Japanese information-technology solutions provider, ITOCHU
TECHNO-SCIENCE Corporation (CTC) as a reseller of the QueueBuster product.  The
CTC Group is the leading distributor for Sun Microsystems in the world, the
leading vendor for Avaya in Asia Pacific, and for Siebel in Japan.  It had sales
of £1.46 billion (US$2.70 billion) in 2002.

Funding

The balance sheet and cash position of the Group has been strengthened by the
issue of 8,509,840 shares to Netcall's shareholder Committed Capital Pty Ltd, as
part of an option agreement between Committed Capital and Netcall, which was
approved in August 2002. The issue raised approximately £1.2 million in new
financing for the Group.  Committed Capital have advised Netcall that it has
since placed 8,000,000 Ordinary Shares with a UK-based institutional shareholder
further widening the Group's shareholder base.

Committed Capital has been an investor in Netcall since 8 August 2002 and
manages the Group's distribution business in the Asian, Australasian and South
American markets through its joint venture with Netcall, Netcall Asia Pacific
Pty.

Following this exercise of options and subsequent sale of shares, Committed
Capital continues to be beneficially interested in 2,009,840 Ordinary Shares,
representing 3.09 per cent of the Company's issued share capital.

Board and Management Changes

Henrik Bang was appointed Chief Executive earlier this year.  He brings a
significant level of international and industry experience to the leadership of
Netcall.  Prior to joining Netcall he was a Vice President for GN Netcom, a
subsidiary of GN Great Nordic, the Danish-based technology group and the world's
second largest provider of hands-free communications products to the call
centre, office and mobile applications markets.  Between 1987 and 1998, he held
a number of roles at IBM including that of Operations Manager in IBM's EMEA
headquarters in London.

As part of the projected expansion and the appointment of Henrik Bang, the Board
has been   restructured.  Accordingly David Rothschild and James Sutherland have
stood down from the Board. Netcall will continue to benefit from their valuable
experience as they concentrate on their executive roles, as Commercial Director
and Sales Director respectively, of NetCall Telecom Limited, the Group's
principle operating subsidiary.

Current Trading and Outlook

The second half has started on a more positive note with further new customers
installing QueueBuster, including The Bank of Ireland via an embryonic and
promising relationship with Eircom. There have also been repeat orders from
Npower, Vertex and The Co-operative Bank.

To date Netcall has a 100% record of converting QueueBuster product trials to
sales, additionally all customers capable of purchasing more than one system
have done so within six months of their initial purchase. However, long decision
cycles continue to make contract timings difficult to forecast and delays in
making initial sales have an inevitable impact on the timing of typically more
substantial repeat orders.

Trials currently in the pipeline and the added impetus of international channel
partners, give the Board increasing confidence that the second half will produce
an improved performance to that achieved in the first half. However, the Board
expects results for the year to be significantly below current market
expectations. The Board is confident that substantially shorter lead-times
required to sell QBS will demonstrate its potential over the next six months and
enable more robust forecasting in future.


Consolidated Profit and Loss Account

                                           Six Months to       Six Months to        Year Ended
                                           31st Dec 2003       31st Dec 2002      30th June 2003
                                                       £                   £                   £
TURNOVER
Continuing operations                            666,268             829,409           2,387,203

                                                 666,268             829,409           2,387,203

Cost of Sales                                   (138,487)           (189,873)           (505,843)
GROSS PROFIT                                     527,781             639,536           1,881,360

OPERATING COSTS
Administration and other operating             1,255,014           1,129,798           2,225,310
expenses

OPERATING LOSS
Continuing operations                           (727,233)           (490,262)           (343,950)

LOSS BEFORE INTEREST                            (727,233)           (490,262)           (343,950)
Interest receivable                                3,000               2,794              14,807
Interest payable                                  (2,479)             (3,422)             (2,634)

LOSS BEFORE TAXATION                            (726,712)           (490,890)           (331,777)
Taxation                                               -                    -                  -

NET LOSS                                        (726,712)           (490,890)           (331,777)

Loss per ordinary share                            (1.3p)             (0.92p)              (0.6p)





Consolidated Balance Sheet

                                                      As at                 As at                  As at
                                                 31st Dec 2003         31st Dec 2002          30th June 2003
                                                             £                     £                       £

Fixed Assets
Intangible assets                                       39,139                51,968                       -
Tangible assets                                        146,241               184,567                 186,395
Investments                                                  -                     -                       -
                                                       185,380               236,535                 186,395

Current assets
Stock                                                  121,379                96,260                  58,924
Debtors due within one year                            522,862               480,578               1,386,872
Cash and bank and in hand                              152,936               805,775                 278,310
                                                       797,177             1,382,613               1,724,106

Creditors: amounts falling due
within one year
Trade creditors                                        144,872               251,482                 405,764
Deferred revenue                                       523,078               271,399                 212,856
Other creditors including taxation                     150,657               302,683                 401,652
and social security
                                                       818,607               825,564               1,020,272

Net current assets                                     (21,430)              557,049                 703,834

Total assets less current
Liabilities                                            163,950               793,584                 890,229
Creditors: amounts falling due
after one year                                               -                     -                       -

                                                       163,950               793,584                 890,229

Capital and Reserves
Called up share capital                              2,836,514             2,836,514               2,836,514
Share premium account                               14,458,444            14,458,444              14,458,444
Special and capital reserves                           245,055               245,055                 245,055
Profit and Loss Account                            (17,376,063)          (16,746,429)            (16,649,784)
                                                       163,950               793,584                 890,229



Notes to the Interim Statement

1.         For the purposes of Section 240 of the Companies Act 1985:

          (a)        this Interim report does not constitute a set of statutory 
                     accounts. The interim financial information has been 
                     prepared on the basis of the accounting policies which were 
                     applied in preparation of the annual financial
                     statements to 30 June 2003.

          (b)        statutory accounts in respect of the year to 30 June 2003 
                     have been delivered to the Registrar of Companies and those 
                     accounts were subject to an unqualified report by the 
                     Auditors.  Accounts for the six months periods ended
                     31 December 2002 and 31 December 2003 have not been 
                     delivered to the Registrar of Companies.

2.         The Board has not declared an interim dividend to shareholders 
           (2002: 0 pence per share).

3.         The loss per ordinary share is calculated by dividing the net loss 
           for the period attributable to ordinary shareholders by the weighted
           average number of 56,730,267 ordinary shares in issue during the six 
           months ended 31 December 2003 (31 December 2002: 53,323,601 and 
           30 June 2003: 56,730,267).

4.         Administration and other operating expenses includes £nil
           relating to reorganisation costs (31 December 2002: £106,518 and 
           30 June 2003: £120,633).

Copies of this interim report are being sent to all shareholders on the Register
of Members on the 1st. March. Further copies of the Interim Statement are
available from the Registered Office of the Company:  10 Harding Way, St. Ives,
Cambs. PE27 3WR and from the Company's web site: www.netcall.com.



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