Interim Results

Azure Holdings PLC
26 September 2006

                        Azure Holdings Plc (' Company')

             Interim results for the six months ended 30 June 2006


Chairman's statement



I am pleased to present the interim accounts for the six months ended 30 June
2006.

In the six months to 30 June 2006 the Company announced a loss after taxation of
£138,000 (2005: £74,000).

The figures should not reflect the future of the Company, which hopefully will
move forward successfully as ValiRx plc from early next month, because, as
announced on 11 September 2006, the reverse acquisition of ValiRx Limited has
been agreed and is subject to shareholders approval at the EGM scheduled for 2
October 2006.

If all the resolutions at that meeting are approved, the Company will retain its
AIM quotation and I will resign as Chairman leaving the new board and Gerry
Desler, Finance Director from the old board, to run the Company.



Barry Gold
Chairman

26 September 2006




Azure Holdings plc

Profit and Loss Account

for the six months ended 30 June 2006
                                                           6 months ended   6 months ended    Year ended 31
                                                             30 June 2006     30 June 2005    December 2005
                                                              (unaudited)      (unaudited)        (audited)
                                                                    £'000            £'000            £'000

Turnover                                                                -                -                -

Administrative expenses                                             (138)             (74)            (134)

Operating loss                                                      (138)             (74)            (134)

Loss on ordinary activities before taxation                         (138)             (74)            (134)

Tax on loss on ordinary activities                                      -                -                -

Loss on ordinary activities after taxation                          (138)             (74)            (134)

Retained loss for the period                                        (138)             (74)            (134)

Loss per ordinary share                                           (0.12p)          (0.15p)          (0.28p)




The profit and loss account has been prepared on the basis that all operations
are continuing operations.  All recognised gains or losses are dealt with
through the profit and loss account or statement of recognised gains and losses.


Azure Holdings plc

Balance Sheet

as at 30 June 2006
                                                               30 June 2006    30 June 2005  31 December 2005
                                                                (unaudited)     (unaudited)         (audited)
                                                                      £'000           £'000             £'000
Current assets
Debtors                                                                   9               3                 1
Cash at bank and in hand                                                127               1                 1

                                                                        136               4                 2

Creditors: amounts falling due within one year                        (103)           (147)             (205)

Net current assets/(liabilities)                                         33           (143)             (203)

Total assets less current liabilities                                    33           (143)             (203)

Net (liabilities)/assets                                                 33           (143)             (203)

Capital and reserves
Called up Share Capital                                               6,271           5,475             5,475
Share Premium                                                         9,858          10,279            10,279
Profit and loss account                                            (16,096)        (15,897)          (15,957)

Equity shareholders funds                                                33           (143)             (203)








Azure Holdings plc

Cash Flow Statement

for the six months ended 30 June 2006


                                                              6 months ended                6 months ended
                                                                30 June 2006                  30 June 2005
                                                                 (unaudited)                   (unaudited)
                                                                      £'000                         £'000
Net cash inflow (outflow) from operating                                                              
activities                                                             (249)                          (13)

Financing
Issue of ordinary shares                                                 796                             -

Share premium reduction arising on
conversion of loan stock                                               (421)                             -

Increase/(Decrease) in cash                                              126                          (13)










Azure Holdings plc

Notes to the Interim Results

1.             The interim results are unaudited and do not constitute statutory
accounts within the meaning of section 240 of the Companies Act 1985.  The
figures for the year ended 31 December 2005 have been extracted from the
statutory accounts filed with the registrar of companies on which the auditors
gave an unqualified report.

2.             The interim results have been prepared using the accounting
policies set out in the statutory accounts for the year ended 31 December 2005.

3.             The comparative figures for the unaudited interim results for the
period ended 30 June 2005 are stated as announced on 27 September 2005.

4.             Loss per share

The loss per share for the six months ended 30 June 2006 has been calculated on
the basis of the loss after taxation for the period of £138,000  (2005: £74,000
) and the weighted average number of shares in issue during the period of
118,717,810 (2005: 48,317,569).                                            .

5.              The directors do not propose to pay a dividend for the period.


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