Interim Results

Coms plc Dated: 19 October 2006 Chairman's Statement The Board of Coms plc ('Coms' or the 'Company') is pleased to present the Company's interim results for the six months ended 31 July 2006. Introduction During the period, the Company entered into an agreement to purchase Coms Ltd. This transaction and the associated placing was completed on the 6 September 2006 and the Company was renamed from Azman plc to Coms plc. The results for this period are consistent with Azman's status as an investment company, or cash shell, and no income was generated other than interest on deposited funds. Financial review As of the 31 July 2006, the Company had a cash balance of £0.43 million. On 6 September 2006, the successful placing of Ordinary Shares at a price of 1p per share raised an additional £1.22 million before expenses. Trading outlook The Board believes the emergence of Internet telephony is revolutionising the telecoms industry, creating major opportunities for an innovative telecoms company such as Coms. We have an experienced board that includes Terry Martin, previously sales director of Apple Computers (UK) Limited and Richard Bennett, a co-founder of JFAX/J2 Inc, the leading unified messaging telecoms service. Coms has developed its own propriety VoIP technology platform and has been generally authorised as a Public Electronic Communication Network by Ofcom. Ofcom has allocated Coms 1.4 million numbers in the top 178 UK geographic area codes by population which Coms principally intends to use for VoIP services, which were officially launched by the Company on 9 October 2006. Jason Drummond Chairman Contacts: Coms plc Tel: +44 (0)20 7148 3148 Richard Bennett, Corporate Development Officer Holborn PR Tel: +44 (0)20 7929 5599 Trevor Philips Consolidated profit and loss account for the six months ended 31 July 2006 COMS PLC Profit and Loss Account For the six months to 31 July 2006 Unaudited Audited Unaudited Six months 13 January 13 January to 2005 to 2005 to 31 July 31 January 31 July 2006 2006 2005 £'000 £'000 £'000 Turnover - - - Administration (71) (45) (15) expenses ____ ____ ____ Operating Loss (71) (45) (15) Interest received 7 12 4 Loss on ordinary ____ ____ ____ activities before (64) (33) (11) taxation Taxation - - - Loss on ordinary ____ ____ ____ activities after (64) (33) (11) taxation Dividends - - - _____ _____ _____ Deficit for the £(64) £(33) £(11) period Earnings per 2 shares: Basic and (0.05p) (0.03p) (0.01p) diluted The company's operating loss arises from continuing operations. There were no recognised gains or losses other than those recognised in the profit and loss account above. COMS PLC Balance Sheet as at 31 July 2006 Unaudited Audited Unaudited 31 July 31 31 July 2006 January 2005 2006 £'000 £'000 £'000 CURRENT ASSETS Debtors 6 8 14 Cash at bank and in 433 448 457 hand ____ ____ _____ 439 456 471 CREDITORS: amounts falling due within (60) (13) (5) one year ____ ____ ____ Net assets £379 £443 £466 CAPITAL AND RESERVES Called up share 122 122 122 capital Share premium 354 354 355 account Profit and loss (97) (33) (11) account ____ ____ ____ Equity shareholders' £379 £443 £466 funds COMS PLC Cash Flow Statement For the six months to 31 July 2006 Unaudited Audited Unaudited Six 13 January 13 January months to 2005 2005 31 July to 31 to 31 July 2006 January 2005 2006 Note £'000 £'000 £'000 Cash outflow from 3 (22) (40) (24) operating activities Return on investment and servicing of 7 12 4 finance Financing - Issue of shares net of expenses - 476 477 Cash(decrease)/increase in the period £(15) £448 £457 Reconciliation of movements in shareholders' funds £'000 £'000 £'000 Deficit for the (64) (33) (11) period New share capital subscribed, net of - 476 477 expenses ____ ____ ____ (64) 443 466 Opening 443 - - shareholders' funds ____ ____ ____ Closing £379 £443 £466 shareholders' funds COMS PLC Notes to the Interim Report 1. Accounting Policies The interim report has been prepared using accounting policies consistent with those set out in the Company's Annual Report and accounts for the period ended 31 January 2006. This interim report for the six months to 31 July 2006 was approved by the Board on 18 October 2006. These unaudited accounts do not constitute statutory accounts within the meaning of Section 240 of the Companies Act 1985. This interim report was neither audited nor reviewed by the auditors. The comparative figures for the period ended 31 January 2006 have been extracted from the Group's statutory accounts for the financial year. Those accounts have been reported on by the Company's auditors and delivered to the Registrar of Companies. 2. Loss per Share Unaudited Audited Unaudited Six 13 January 13 January 2005 months 2005 to to to 31 July 31 July 31 January 2005 2006 2006 Pence Pence Pence Earnings per ordinary share - Basic and (0.05p) (0.03p) (0.017p) diluted The loss per ordinary share is based on the company's loss for the period of £64,000 (losses: 31 January 2006 - £33,000; 31 July 2005 - £11,000) and a weighted average number of shares in issue of 121,750,000, (31 January 2006 - 116,075,549,: 31 July 2005 - Basic 116,075,549). 3. Reconciliation of operating loss to net cash outflow from operating activities. Unaudited Audited Unaudited Six Months 13 January 13 January to 2005 2005 31 July 2006 to to 31 July 31 July 2005 2006 £'000 £'000 £'000 Operating loss (71) (45) (15) Decrease/(Increase) in debtors 2 (8) (14) Increase in 47 13 5 creditors Net cash outflow from operating £(22) £(40) £(24) activities 4. The Board is not recommending the payment of an interim dividend at this time. 5. Copies of this interim statement are available from the Company at its registered office at Finsgate, 5-7 Cranwood Street, London, EC1V 9EE.

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