Final Results

Walker,Crips,Weddle,Beck PLC
11 June 2001


NEWS RELEASE

                                           For immediate release: 11 June 2001



                             PRELIMINARY RESULTS

                       FOR THE YEAR ENDED 31 MARCH 2001


Walker, Crips, Weddle, Beck plc ('WCWB'), the fully Listed stock and share
broker, announces Preliminary results for the year ended 31 March 2001.

Commenting on the results, Michael Sunderland, Chief Executive of WCWB, said:
'Although the quieter trading conditions have meant that pre-tax profits
declined to £1.2 million from £2.1 million, it is pleasing that the more
consistent Investment and Money Management divisions of WCWB continued to
drive forward their revenues. Fees from these areas rose by 43% to £1.9
million. We will continue to commit further resources and effort to increase
our returns from these divisions.'


FINANCIAL HIGHLIGHTS

Turnover £12,238,000 (2000: £13,150,000)
Gross profits £9,096,000 (2000: £9,392,000)
Profit before tax 1,213,000 (2000: £2,078,000)
Earnings per share 8.6p (2000: 16.5p)
Final dividend of 4.0p for the year, combined with an interim dividend of
2.25p, making a total of 6.25p (2000: 6.0p)

Graham Kennedy, Chairman of WCWB, commented: 'The company has continued its
strategy for growth during the year and has implemented INVESTeLINK, an
on-line dealing facility which is now available for trading through the
Internet.

'The Board believes that the company is well positioned to meet the challenges
of our increasingly competitive environment and will benefit strongly from an
upturn in market activity.'



For further information please contact:


Michael Sunderland, Chief Executive       Hamish McFall
Rodney FitzGerald, Finance Director       Marylene Guernier
Walker, Crips, Weddle, Beck plc           Tavistock Communications Limited
Tel: [phone]                        Tel: [phone]


Chairman's Statement
For the year ended 31 March 2001


Review of the Year

The past financial year started strongly in common with financial markets
world-wide, but activity slowed sharply through the remainder of the year
which resulted in a 21% reduction in the number of transactions handled by
your company.  Turnover totalled £12,238,000 (2000 - £13,150,000) and gross
profit was slightly lower at £9,096,000 (2000 - £9,392,000) after commission
payable to agents.  I am pleased to report a profit before tax of £1,213,000
(2000 - £2,078,000) and post-tax profit for the year of £782,000 (2000 - £
1,486,000).

The Board is recommending a final dividend of 4 pence per share, which, with
the interim already paid raises the total for the year to 6.25 pence net per
share (2000 - 6 pence net per share).  Subject to the dividend now proposed by
the Directors being approved at the Annual General Meeting, payment will be
made on the 16 July to shareholders on the register at the close of business
on 22 June 2001.



Progress

The company has continued its strategy for growth during the year and has
implemented INVESTeLINK, an on-line dealing facility which is now available
for trading through the Internet.

During the year Jan Luthman joined the company as Head of Research and many
clients have already benefited from his market perception and skilful stock
selection.



Executive Directors, Associates and Staff

In a year when many clients suffered losses, particularly in the technology
sector, much credit is due to associates, management and staff whose combined
effort in providing sound advice and maintaining efficient credit control
prevented the emergence of any additional provisions.  On your behalf, I thank
them for all their efforts.



Future Outlook

The Board believes that the company is well positioned to meet the challenges
of our increasingly competitive environment and will benefit strongly from an
upturn in market activity.



Annual General Meeting

The Annual General Meeting will take place at 12:00 noon on 13 July 2001.
This will be held at The Olof Lundberg Conference Room, Inmarsat Limited, 99
City Road, London EC1Y 1AX.


G N KENNEDY
Chairman



Chief Executive's statement
For the year ended 31 March 2001


Last year was dominated by the effect of the bubble bursting in technology
stocks with constant market rotation between 'new' and 'old' economy stocks.
The uncertainty created by extreme market gyrations made it difficult for most
market participants.  The usually busy trading period up to the end of the tax
year failed to match our expectations and bargain volumes for the year
declined to 169,287 from the record 215,728 previously.

Although the quieter trading conditions have meant that profits declined to £
1.2 million from £2.0 million, it is pleasing that the more consistent
Investment and Money Management divisions of WCWB continued to drive forward
their revenues. Fees from these areas rose by 43% to £1.9 million. Once again
we will commit further resources and effort to increase our returns from these
divisions.

Our Associates and Branches dealt well through difficult markets and
contributed positively yet again to the overall picture.  Throughout this
period our clientele certainly benefited from the wealth of knowledge and
long-standing experience of our Associates.

In line with market conditions our Execution-Only division, Investorlink,
experienced a fairly sharp drop in volumes, especially towards the end of the
year, but still generated £1.9 million of gross commission being 15% of
turnover.  Inevitably many customers were drawn into the technology sector
which required application of tight credit control by Nigel Simmonds and his
team.  Yet again the average commission per bargain from Investorlink
increased, this time to a level of £30.

The industry sales statistics for ISAs were well down but the Advisory and
Self-Select products marketed by WCWB continued to be popular with our
existing client base.  Year on year sales declined 26% but this was clearly a
reflection on the success of our High Tech ISA the previous year and still
compares favourably against many of our competitors. Funds under management
within the PEP/ISA division now exceed £200 million.

The Board continued to invest strongly in computer technology and in March
2001 the company was in a position to make available our own on-line share
trading product INVESTeLINK.  This important facility has initially been made
available to clients who have in the past used our telephone dealing system,
but a marketing campaign to reach a wider audience will be initiated when
conditions are felt suitable.

With the London Stock Exchange creating a market for its shares in May 2000,
the company's balance sheet now reflects the material fair value of our
100,000 share holding.  The recently-announced full listing of the London
Stock Exchange will be followed with considerable interest.  At present we are
content to retain our holding which is currently valued at £3.5 million being
a substantial element of the firm's net assets.

The company is bound to be affected by the general level of overall market
activity, but your Board have given much attention to expanding the base of
operations which it is anticipated will bear fruit in the coming year.


M J SUNDERLAND
Chief Executive



Profit and loss account
For the year ended 31 March 2001


                                                            2001          2000
                                                           £'000         £'000
Turnover                                                  12,238        13,150
Commission payable                                       (3,142)       (3,758)
                                                      __________    __________
Gross profit                                               9,096         9,392
Administrative expenses                                  (7,822)       (7,281)
                                                      __________    __________
Operating profit                                           1,274         2,111
Interest payable and similar charges                        (61)          (33)
                                                      __________    __________
Profit on ordinary activities before taxation              1,213         2,078
Tax on profit on ordinary activities                       (431)         (592)
                                                      __________    __________
Profit on ordinary activities after taxation                 782         1,486
Dividends paid and proposed                                (574)         (545)
                                                      __________    __________
Retained profit for the year

                                                             208           941
                                                      __________    __________
Earnings per share
Basic                                                       8.6p         16.5p
Diluted                                                     8.3p         15.7p



Statement of total recognised gains and losses
For the year ended 31 March 2001


                                                               2001       2000
                                                              £'000      £'000
Profit for financial year                                       782      1,486

Unrealised surplus on revaluation                             2,875          -
                                                         __________ __________
Total recognised gains and losses relating to the year        3,657      1,486



Total gains and losses recognised since the last
accounts
                                                              3,657      1,486
                                                         __________ __________




Balance Sheet
31 March 2001


                                                            2001           2000
                                                           £'000          £'000
Fixed assets                                                        As restated
Tangible                                                   1,102          1,097
Investments                                                2,950             75
                                                      __________     __________
                                                           4,052          1,172
                                                      __________     __________
Current assets
Debtors                                                   37,852        125,825
Cash at bank and in hand                                   3,226             40
                                                      __________     __________
                                                          41,078        125,865
Creditors: Amounts falling due within one year          (35,789)      (120,833)
                                                      __________     __________
Net current assets                                         5,289          5,032
                                                      __________     __________
Net assets                                                 9,341          6,204
                                                      __________     __________
Capital and reserves
Called-up share capital                                    1,836          1,819
Share premium account                                      1,186          1,149
Profit and loss account                                    3,362          3,154
Revaluation reserve                                        2,875             -
Other reserves                                                82             82
                                                      __________     __________
Shareholders' funds (all equity)                           9,341          6,204
                                                      __________     __________




Cash flow statement
For the year ended 31 March 2001


                                                                 2001      2000
                                                                £'000     £'000

                                                                             As
                                                                       restated
Net cash inflow (outflow) from operating activities             9,181   (4,710)
Returns on investments and servicing of finance                  (61)      (33)
Taxation                                                        (624)     (203)
Capital expenditure and financial investment                    (544)     (685)
Equity dividends paid                                           (571)     (448)
                                                          __________ __________
Cash inflow (outflow) before management of liquid resources
and financing
                                                                7,381   (6,079)

Management of liquid resources                                (3,150)     1,550
Financing                                                          54       143
                                                          __________ __________
Increase (decrease) in cash in the year                         4,285   (4,386)
                                                          __________ __________



Notes


Dividends paid and proposed

                                                     Year ended    Period ended
                                                       31 March        31 March
                                                           2001            2000
                                                          £'000           £'000
Equity shares: Ordinary shares of 20p
- interim paid of 2.25p (2000 - 2.00p) per share            207             181
- final proposed of 4.00p (2000- 4.00p) per share           367             364
                                                     __________      __________
                                                            574             545
                                                     __________      __________


Earnings per share

The calculation of basic earnings per share is based on the post-tax profit
for the financial period of £782,000 (2000 - £1,486,000) and on 9,147,612
(2000 - 8, 991,543) ordinary shares of 20p, being the weighted average number
of ordinary shares in issue during the period.

The calculation of diluted earnings per share is based on the diluted post-tax
profit for the financial period of £818,000 (2000 - £1,512,000) and on
9,885,653 (2000 - 9,634,793) ordinary shares, being the weighted average
number of ordinary shares in issue during the period adjusted for dilutive
potential ordinary shares (being share option schemes only).



Annual Report and Accounts

The auditors have not yet reported on accounts for the year ended 31 March
2001 nor have any such accounts been delivered to the Registrar of Companies.

The Annual Report and Accounts will be posted to shareholders shortly and
copies will also be available from the Company's Registered Office at Sophia
House, 76/80 City Road, London EC1Y 2EQ.