Final Results

The Core Business
                            ("Core" or the "Company")

                    Final Results for the year to 31 May 2009


26 February 2010

The  Core Business floated on AIM in March 2006 and as part of a "buy and build"
strategy  completed the acquisition of Amirose International Ltd in  July  2007.
Both  companies operated in the beauty and personal care sectors and market  and
sold brands into high street retailers, independent pharmacy, and beauty salons.
The  Group's portfolio of brands included those that are wholly owned  or  those
that are sourced from overseas brand owners who grant the group an exclusive  UK
distribution  agreement  to market and sell their products.  The  Group  has  no
manufacturing facilities and imports all its products from manufacturers in  the
Far East and from brand owners in Australia and Europe

The  Group  launched its first wholly owned brand - Grace Your Face - in  August
2008 in 700 Superdrug stores. In addition the Group launched the Bloom range  of
colour  cosmetics,  having  previously  secured  an  exclusive  UK  distribution
agreement, into 100 Superdrug stores in October 2008.

The  Group's  trading  pattern during the financial year suffered  from  a  high
degree  of  volatility  as  it retailers destocked and  consumer  demand  became
unpredictable because of the impact of the recession. The decline in  the  value
of Sterling also had a detrimental impact on the Group's gross margins.

The Group operated in a highly competitive and saturated market. In an effort to
provide  visibility and an in-store presence for its brands the  Group  invested
16%  of  its  sales  value  on marketing versus 13%  the  prior  year.  A  large
proportion  of its marketing budget was invested in supporting the Elite  Models
colour  cosmetics brand which had launched in 200 Superdrug stores in  September
2007.  Because  of  a lack of new product development from the brand  principal,
Accesoires Beaute Cosmetiques, the Group had to promote the brand with price off
activity which led to a significant erosion of margin. In addition Elite  Models
colour  cosmetics suffered from poor retail sales and as a consequence  low  re-
order values despite the investment in marketing activity.

Grace  Your  Face also received considerable investment from the  Group  on  its
launch but without a commensurate payback in high order values.

In  September  2009 the directors requested the suspension of  dealings  in  the
existing  ordinary  Shares on AIM when the directors became aware  that  trading
levels  had decreased to a significant extent, as a result of which the  Group's
liabilities exceeded its assets.

Amirose  International Limited was placed in a creditors' voluntary liquidation
on  25  January 2010 and the net cost of the investment has been fully provided
against in the following financial statements.


The Board has been approached by Alfred Henry Corporate Finance, together with
Trafalgar Capital Specialised Investment Fund, the Company's largest secured
creditor, with proposals under which the Company is to be used as an investing
company quoted on AIM and the creditors are to be offered new ordinary shares in
satisfaction of amounts owed to them by the Company in order to eliminate the
Company's indebtedness and liabilities and provide it with the requisite
solvency to conduct a company voluntary arrangement ("CVA"), to seek a return to
trading on AIM and to fund the associated working capital requirements. The
objective would be to enable creditors and shareholders to recover some value by
holding shares in an AIM quoted investing company. Full details of the CVA are
contained in circulars that can be located on the Company's website, together
with a full copy of the Company's annual report and accounts for the year ended
31 May 2009.  The annual report and accounts have been posted to shareholders today.


For further information, please contact:

The Core Business PLC                        www.thecorebusiness.co.uk
Stirling Murray, Chief Executive                       020 8559 8244

Blomfield Corporate Finance Ltd (Nomad)
Nick Harriss                                           020 7444 0800

Antony Batty & Company LLP (CVA Nominee)
Antony Batty                                           020 7831 1234



Income Statement for the year
ended 31 May 2009
                                          2009         2008
                                          £            £

Revenue                                   1,501,170    1,345,930
Cost of sales                             730,394        548,414

Gross profit                              770,776        797,516

Sales and marketing                       (232,964)     (171,547)
Administration costs                      (854,401)   (1,151,464)

Operating loss                            (316,589)     (525,495)

Analysed as:
Operating loss before exceptional items
Exceptional items                         (2,075,536)  -

Operating loss after exceptional items    (2,392,125)   (525,495)

Financial income                           277             4,755
Financial expense                         (68,970)       (61,312)

Loss before tax                           (2,460,818)   (582,052)

Income tax credit/(expense)                  -            -

Loss for the year                         (2,460,818)   (582,052)

Loss per share
Basic and diluted                         (0.98 p)       (0.34 p)
Basic and diluted                         (0.15 p)       (0.34 p)
(prior to exceptional Items)


Balance Sheet as at 31 May 2009
                                            2009      2008
                                            £         £
Assets
Non-current assets
Property, plant and equipment               155,730     86,850
Investment in subsidiary                    -        3,168,901

                                            155,730  3,255,751

Current assets
Inventories                                 -         41,269
Trade and other receivables                 47,175    77,630
Cash and cash equivalents                   939       3,045

                                            48,114    121,944

Total assets                                203,844   3,377,695

Equity and liabilities
Equity attributable to the Company's equity holders
Share capital                               1,267,412 1,017,412
Equity reserve                              -            10,722
Share premium                               1,182,681 1,096,431
Retained earnings                          (3,188,727) (727,909)

                                            (738,634)  1,396,656

Current liabilities
Trade and other payables                    313,428   329,238
Borrowings                                  629,050   762,713
Current tax liabilities                     -         -
Amounts owed to group undertakings               -    889,088

Total liabilities                           942,478    1,981,039

Total equity and liabilities                203,844    3,377,695



Cash flow statement for the year ended 31May 2009

                                              2009     2008
                                              £        £
Cash flows from operating activities

Cash (used in)/generated from operations     (108,279)  189,675
Interest paid                                 (70,934)  (64,996)
Tax paid                                       -       -

Net cash used in operating activities        (179,213)  124,679

Cash flows from investing activities
Acquisition of subsidiary
net of cash acquired                            -    (3,168,901)
Increase in amounts owed to
subsidiary undertaking                        -         889,089
Purchases of property,
plant and equipment                           (159,420)(110,860)
Investment in financial asset                    -        -
Interest received                                277      4,755

Net cash used in investing activities      (159,143) (2,385,917)

Cash flows from financing activities
Net proceeds on issues of shares             336,250  1,411,273
Proceeds on issue of loan notes                 -      850,000
Increase/(decrease) in loan notes               -      (76,566)

Net cash from financing activities            336,250  2,184,707

Net (decrease)/ increase in
cash and cash equivalents                      (2,106)   (76,531)

Cash and cash equivalents
at beginning of year                            3,045     79,576

Cash and cash equivalents at end of year        939        3,045