Interim Results

Premier Management Holdings PLC
28 October 2004

For release at 07.00 on 28 October 2004

PREMIER MANAGEMENT HOLDINGS PLC


Interim results for the six months ended 31 July 2004

Premier Management Holdings plc (the 'Company'), the AIM-listed football agency
presents interim results for the six months ended 31 July 2004 for itself and
its subsidiaries (together, the 'Group').


Key points

•    Results continue to show the benefit of the Group's re-organisation

•    Operating profit of £26,000 on turnover of £610,000 achieved in a 
     difficult market

•    Market continues to be tough, but current level of overheads makes for 
     easier profit delivery

•    Already a base for second half of year as some turnover achieved in 
     non-window months



Barry Gold, Chairman, said today:

'The last month of the Summer transfer window was disappointing, but was
redeemed by a steady level of turnover in the months after the window, and
hopefully this situation may continue as much of our UK business is outside of
the Premier League.  The outcome for the second half of the year will be
determined by our performance in the January window, but with some turnover
being achieved in non-window months already, we have a base to work from.'


For further enquiries contact:

Barry Gold (Chairman - Premier Management Holdings plc) - Tel: [phone]



Chairman's Statement

Following the change of our accounting period, these are the first results for
the six month period ended 31 July and as such there is no directly
corresponding period.  However, by changing the year end, these results
incorporate the majority of the Summer transfer window and enable me to comment
on trade in the final month of that window and subsequently to the date of this
announcement.

I am pleased to report that the results for the six months ended 31 July 2004
continue to show the benefit of the re-organisation of the Group that I have
referred to in previous statements.  During the period in question, although the
market remained difficult, we managed to return an operating profit of £26,000
on a turnover of £610,000.  In addition, as there are no deductions for interest
and amortisation of finance costs as in previous periods we have been able to
retain profits to reserves.

During the period, we have made the initial quarterly payments to the bondholder
in accordance with the settlement we reached with them and have continued to
make significant overhead reductions.  Although we now have a much smaller
business, turnover has not reduced to the extent that it nullifies the overhead
savings achieved.

I reported recently that Mark Curtis had left the Company and as part of the
leaving arrangements, has returned his shares, which have now been cancelled.
Since then Andrew Mills has agreed to leave the Company and as part of the
severance terms has undertaken not to dispose of any of his shares in the
Company for a period of 12 months.  We wish both of them well, and thank them
for their contributions to the Company and hope that they are both individually
successful and we can work with each of them on joint deals in the future.

We now have three licensed agents in this country, one in Turkey and one in
Hungary.  Hungary continues to perform well and deals are still being delivered
in Turkey.  We consider that an early accession of that country to the EU would
be very beneficial to us.  The agreements we reached with agents in other
territories are providing certain introductions to us and we have done a shared
deal in France and hope that we will be able to line up certain other deals that
we are currently working on, for the January transfer window.

The last month of the Summer transfer window was disappointing, but was redeemed
by a steady level of turnover in the months after the window, and hopefully this
situation may continue as much of our UK business is outside of the Premier
League.  Our football club managers continue to provide a useful market for us
and we continue to advise Clubs on transfers and contract negotiations.

With our current level of overhead it has become easier to make a profit in the
current market, although recovering cash remains very difficult and the market
continues to be tough.

The outcome for the second half of the year will be determined by our
performance in the January window, but with some turnover being achieved in
non-window months already, we have a base to work from.


Barry Gold
Chairman

28 October 2004


Unaudited Consolidated Profit and Loss Account
For the six months ended 31 July 2004
                                                            Six months to     Six months to      Nine months to
                                                                  31 July        31 October          31 January
                                                                     2004              2003                2004
                                                                Unaudited         Unaudited             Audited
                                                                    £'000             £'000               £'000

Turnover                                                              610               932               1,242

Cost of sales                                                       (101)             (334)               (458)
Exceptional impairment of investment in footballers                     -                 -               (882)
Gross profit/(loss)                                                   509               598                (98)

Exceptional administration expenses                                     -                 -             (2,642)
Amortisation of intangible assets                                     (8)              (91)               (132)
Other administration expenses                                       (475)             (423)               (627)
                                                                    (483)             (514)             (3,401)

Operating profit/(loss)                                                26                84             (3,499)

Interest received and similar income                                    1                 -                   -
Interest paid                                                         (2)              (77)               (127)
Amortisation of finance costs                                           -              (99)               (248)
Exceptional write back of convertible loan stock                        -                 -               2,896
                                                                      (1)             (176)               2,521

Profit/(loss) on ordinary activities before taxation                   25              (92)               (978)

Taxation                                                                -                 -                   -

Retained profit/(loss) for the period                                  25              (92)               (978)

Earnings/(loss) per share                                           Pence             Pence               Pence
Basic earnings/(loss) per ordinary share                             0.04            (0.35)              (3.77)

Continuing operations
All amounts are derived from continuing operations




Unaudited Statement of Total Recognised Gains and Losses
For the six months ended 31 July 2004
                                                            Six months to     Six months to      Nine months to
                                                                  31 July        31 October          31 January
                                                                     2004              2003                2004
                                                                                as restated
                                                                Unaudited         Unaudited             Audited
                                                                    £'000             £'000               £'000

Profit/(loss) for the period                                           25              (92)               (978)

Prior period adjustment                                                 -               174                 174

Total recognised gains and losses                                      25                82               (804)





Unaudited Consolidated Balance Sheet
As at 31 July 2004
                                                                    As at             As at               As at
                                                                  31 July        31 October          31 January
                                                                     2004              2003                2004
                                                                                as restated
                                                                Unaudited         Unaudited             Audited
                                                                    £'000             £'000               £'000

Fixed assets
Intangible assets                                                     212             3,208                 220
Tangible assets                                                        86                90                  82
Investments                                                             -               175                   -
                                                                      298             3,473                 302
Current assets
Debtors                                                             1,091             1,707               1,069
Current asset investments                                             221             1,169                 221
Cash at bank                                                          134               164                 151
                                                                    1,446             3,040               1,441
Creditors:
amounts falling due within one year                                 (545)             (761)             (1,239)
Net current assets                                                    901             2,279                 202

Total assets less current liabilities                               1,199             5,752                 504

Creditors:
amounts falling due after more than one year                      (1,867)           (6,348)             (1,986)
Total assets less liabilities                                       (668)             (596)             (1,482)

Capital and reserves
Share capital                                                         708               269                 269
Share premium                                                       2,847             2,646               2,497
Retained (losses)/profits                                         (4,013)           (3,301)             (4,038)
Own shares held                                                     (210)             (210)               (210)
Equity shareholders' deficit                                        (668)             (596)             (1,482)



Unaudited Reconciliation of Movements in Shareholders' Deficit
For the six months ended 31 July 2004
                                                            Six months to     Six months to      Nine months to
                                                                  31 July        31 October          31 January
                                                                     2004              2004                2004
                                                                                as restated
                                                                Unaudited         Unaudited             Audited
                                                                    £'000             £'000               £'000

Opening shareholders' deficit                                     (1,482)             (504)          (504)3,330
Proceeds from shares issued                                           789                 -                   -
Profit/(loss) for the period                                           25              (92)               (978)
Closing shareholders' deficit                                       (668)             (596)             (1,482)




Unaudited Consolidated Cash Flow statement
For the six months ended 31 July 2004
                                                            Six months to     Six months to      Nine months to
                                                                  31 July        31 October          31 January
                                                                     2004              2003                2004
                                                                Unaudited         Unaudited             Audited
                                                                    £'000             £'000               £'000

Net cash movement on operating activities                           (239)                18                 134

Return on investments
Interest received                                                       1                 -                   -
Interest payable                                                      (2)              (77)               (127)

Capital expenditure
Payment to acquire intangible assets                                    -                 -                   -
Receipts on disposal of tangibles                                       2                20                  20
Payments to acquire tangible assets                                   (6)               (4)                 (4)


Net cash movement before management of liquid resources
and financing                                                       (244)              (43)                  23
                                                                    
Financing
Issue of ordinary shares                                              789                 -                   -
Capital element of hire purchase contracts                            (8)              (12)                (15)
Payment of deferred consideration                                       -              (25)                (37)
Payment of other loan                                               (549)                 -                   -
Payment for negotiating settlement of convertible loan
stock                                                                   -                 -                (72)
                                                                        
Decrease in cash in the period                                       (12)              (80)               (101)




Notes to the interim accounts
For the six months ended 31 July 2004

1.   Basis of preparation

     The results for the six months ended 31 July 2004 are unaudited and have 
     not been reviewed by the auditors.  They have been prepared on accounting 
     bases and policies that are consistent with those used in the preparation 
     of the audited financial statements of the company for the period ended 31 
     January 2004.

     The financial statements contained in this report do not constitute 
     statutory accounts within the meaning of Section 240 of the Companies Act 
     1985.  The results for the period ended 31 January 2004 were reported on by 
     the Auditors and received an unqualified audit report.  Full accounts for 
     the period ended 31 January 2004 have been delivered to the Registrar of 
     Companies.


2.   Dividends

     No dividend is proposed for the period ended 31 July 2004.


3.   Earnings/ (loss) per share

     The calculation of the basic earnings per share is based on the profit 
     after tax of £25,000 (six months to 31 October 2003: £92,000 loss) and on
     56,435,701 ordinary shares (six months to 31 October 2003: 26,933,333), 
     being the weighted average number of ordinary shares in issue during the 
     period.

     There is no dilutive effect of options due to the fair value of the shares
     during the period being less than the exercisable price of those options 
     and the potential dilution on conversion of the convertible loan stock 
     would decrease the net loss and is not disclosed in accordance with 
     Financial Reporting Standard No. 14.


4.   Investments

     Fixed asset investments are stated at cost less provision for diminution in 
     value.

     The company invests in the future value of players' fees and investments in 
     footballers (classified as current asset investments) represent monies 
     provided to clubs to finance transfers of players.  An impairment review is 
     carried out on the carrying value of the investment at the end of each
     accounting period.


5.   Interim statement

     The interim statement will not be posted to shareholders.  Copies of the 
     interim statement can be obtained from the company by writing to the 
     Company Secretary at 11 Central House, Ongar, Essex, CM5 9AA.


ENDS

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