Final Results

To be embargoed: not to be released until 7.00 a.m.
                                                           on 15 September 2005

               EUROVESTECH PLC ('Eurovestech' or 'the Company')                

                              Preliminary Results                              
                       for the year ended 31 March 2005                        

Chairman's Statement

I am pleased to report on a successful year. Our portfolio companies and their
management teams have made very good progress. Eurovestech has entered this
year with a strong portfolio and the proven ability to pursue and positively
impact new opportunities.

In October 2004, we raised £5 million in an institutional placing. This has
allowed us to take advantage of certain targeted investment opportunities and
with the placing price at more than double the IPO price of March 2000; I
regard this as validation of our achievements as well as our perseverance.

Losses for the year, which represent our operating costs, were £0.66 million
against a loss of £1.15 million for the corresponding year. Net assets
increased to £13.3 million from £8.6 million reflecting the issue of shares and
the trading result. However, as I reported to you last year, given what we
consider to be the exceptionally rapid development of our unquoted portfolio,
these carrying values do not reflect `fair values': at the current stage of the
development of our portfolio companies, they are impractical to benchmark
reliably. For example, at the year end, our shareholding in Cjudge Limited
('Cjudge') was valued at its £2 million cost.

Portfolio review

Five years ago, we invested £1.2 million in Cjudge, the Paris-based online
market research company. Subsequently we made follow-on investments of £0.8
million to support the company's further development.

Cjudge's core services comprise access to its online panels of consumers, the
creation of dedicated online panels for or on behalf of clients and the
licensing and hosting of its proprietary data collection technology. Access
panels comprise pools of individuals who have agreed to participate in online
panels. It is these 'access panels' that are used to conduct market research.

In May 2005, Cjudge's business was successfully listed on AIM under the name of
ToLuna plc ('ToLuna'), raising £5 million gross from several institutional
investors, following which, Eurovestech holds just under 64 per cent. of
ToLuna's issued share capital. On flotation, the stock market value of our
holding was £16 million and it is currently £18 million.

During the year under review, ToLuna increased the number of its European
panellists to approximately 350,000. Earlier this month ToLuna reported that it
now has 550,000 panellists. ToLuna also announced that trading, in the first
half of its year (to 30 June 2005), has exceeded management's expectations.

Knowledge Support Systems Limited ('KSS'), a leading provider of pricing and
revenue management systems for the retail and petroleum sectors, won several
sizeable contracts during the year. Customers now include BP, Rite Aid,
7-Eleven, Kuwait Petroleum, Conoco Philips, Sheetz and Brookshire Brothers.
Eurovestech acquired 100 per cent. of the share capital of KSS in June 2003 for
£1 million. At that time, KSS was losing £0.5 million per month. Last month, we
announced that KSS produced an after tax profit for its year to 27 June 2005,
of more than £950,000 and had increased sales more than four-fold to over £5
million.

Magenta Corporation Limited ('Magenta') is a leading provider of intelligent
software agent technology, which enables automation of real-time negotiating
and scheduling processes. During the year, Magenta secured a `proof of concept'
contract from one of Europe's largest engineering groups.

The remainder of the portfolio, which includes holdings in MyKindaplace
Limited, Tevet Process Control Technologies Limited, ARKeX Limited, Lynx
Photonic Networks Inc., D-Pharm Limited and Atarim Web Consulting together
account for less than 15 per cent of the portfolio by carrying value.
Nevertheless, the overall performance of these businesses has been encouraging.

Charitable donations

During the year, Eurovestech issued and gifted 800,000 new ordinary shares to
several charitable organisations. These shares had a total market value at the
date of issue of £82,000. Since 2001, the company has created and gifted more
than five million shares to dozens of worthy causes. I am proud that together
with the donations to the same charities from Richard Bernstein's personal
holding, the stock market value of shares gifted to charity now exceeds £1.25
million. The company hopes its policies and actions will encourage other
companies to support charities in this way.

Prospects

The year has started well: ToLuna and KSS, our two most developed companies,
have recently reported very strong increases in both turnover and profits.
Magenta's focus on providing production-level solutions around intelligent
agent technology is translating into new business; with a sizeable contract win
secured earlier this month.

I am pleased that we are utilising our strong cash position to target selected
listed investment opportunities. Overall, I am extremely optimistic about our
prospects.

RICHARD GROGAN

Chairman

Profit and Loss Account
for the year ended 31 March 2005

                                            Note       Year ended    Year ended
                                                         31 March      31 March
                                                             2005          2004
                                                                               
                                                                £             £
                                                                               
Turnover                                                        -        34,692
                                                                               
Gross profit                                                    -        34,692
                                                                               
Net operating expenses                                  (773,012)   (1,228,213)
                                                                               
Other operating expenses                                        -         1,091
                                                                               
Operating loss                                          (773,012)   (1,192,430)
                                                                               
Net interest                                             (16,979)      (27,131)
                                                                               
Amounts written (off)/back to investments                (53,315)        66,912
                                                                               
Unrealised gains on investments                           181,262             -
                                                                               
Loss on ordinary activities after                       (662,044)   (1,152,649)
taxation                                                                       
                                                                               
Loss per ordinary Share                                  (0.236)p      (0.475p)
                                                                               

All operations are continuing


Balance Sheet
as at 31 March 2005

                                                                At           At
                                                          31 March     31 March
                                                              2005         2004
                                                                               
                                                                 £            £
                                                                               
Fixed assets                                                                   
                                                                               
Tangible assets                                              1,737        3,205
                                                                               
Investments                                              9,200,930    8,467,663
                                                                               
                                                         9,202,667    8,470,868
                                                                               
Current assets                                                                 
                                                                               
Debtors                                                    169,299      226,124
                                                                               
Investments                                              2,674,107           56
                                                                               
Cash at bank and in hand                                 2,557,906    1,313,728
                                                                               
                                                         5,401,312    1,539,908
                                                                               
Creditors: amounts falling due within one                (156,379)  (1,348,003)
year                                                                           
                                                                               
Net current assets                                       5,244,933      191,905
                                                                               
Total assets less current liabilities                   14,447,600    8,662,773
                                                                               
Creditors: amounts falling due in more than            (1,100,000)            -
one year                                                                       
                                                                               
Net Assets                                              13,347,600    8,662,773
                                                                               
Capital and reserves                                                           
                                                                               
Called up share capital                                  3,124,228    2,598,109
                                                                               
Share premium account                                   13,849,192    9,028,440
                                                                               
Revaluation reserve                                      3,170,316    3,170,316
                                                                               
Profit and loss account                                (6,796,136)  (6,134,092)
                                                                               
Shareholders' funds                                     13,347,600    8,662,773
                                                                               

Cash Flow Statement
for the year ended 31 March 2005

                                            Note       Year ended    Year ended
                                                         31 March      31 March
                                                             2005          2004
                                                                               
                                                                £             £
                                                                               
Net cash outflow from operating              (i)        (951,406)   (1,147,029)
activities                                                                     
                                                                               
Returns on investments and servicing of                                        
finance                                                                        
                                                                               
Interest received and similar income                       78,374        21,176
                                                                               
Interest paid                                            (95,353)      (48,307)
                                                                               
Net cash (outflow) from returns on                                             
investments and                                                                
                                                                               
servicing of finance                                     (16,979)      (27,131)
                                                                               
Capital expenditure and financial                                              
investment                                                                     
                                                                               
Purchase of tangible fixed assets                           (310)         (988)
                                                                               
Purchase of fixed asset investments                     (978,582)   (2,323,506)
                                                                               
Sale of fixed asset investments                           192,000             -
                                                                               
                                                                              -
                                                                               
Net cash outflow from capital expenditure                                      
and                                                                            
                                                                               
and financial investment                                (786,892)   (2,324,494)
                                                                               
Management of liquid resources                                                 
                                                                               
Sale of current asset investments                      14,547,605     9,027,163
                                                                               
Purchase of current asset investments                (16,895,021)   (7,402,288)
                                                                               
Net cash (outflow)/inflow from management   (ii)      (2,347,416)     1,624,875
of liquid resources                                                            
                                                                               
Net cash flow before financing                        (4,102,693)   (1,873,779)
                                                                               
Financing                                                                      
                                                                               
Receipt of borrowings                                           -     1,100,000
                                                                               
Issue of shares                                         5,360,500     1,717,000
                                                                               
Expenses paid in connection with share                   (13,629)             -
issues                                                                         
                                                                               
Net cash inflow from financing                          5,346,871     2,817,000
                                                                               
Increase in cash                            (ii)        1,244,178       943,221

Notes to the Cash Flow Statement

i. NET CASH OUTFLOW FROM OPERATING ACTIVITIES

                                                     Year ended   Year ended 31
                                                                          March
                                                       31 March            2004
                                                           2005                
                                                                               
                                                              £               £
                                                                               
      Operating loss                                  (773,012)     (1,192,430)
                                                                               
      Depreciation                                        1,778           7,348
                                                                               
      (Gain)/Loss on disposal of current asset        (145,373)          93,726
      investments                                                              
                                                                               
      Decrease/(Increase) in debtors                     56,825        (70,743)
                                                                               
      (Decrease)/Increase in creditors                 (91,624)       (149,351)
                                                                               
      Charges for shares issued at under value                -         164,421
                                                                               
      Net cash outflow from operating activities      (951,406)     (1,147,029)
                                                                               

ii. RECONCILIATION OF NET CASH FLOW TO MOVEMENT IN NET FUNDS

                                                         Year ended  Year ended
                                                           31 March    31 March
                                                                           2004
                                                               2005            
                                                                               
                                                                  £           £
                                                                               
     Increase in cash in the year                         1,244,178     943,221
                                                                               
     Cash inflow from financing                                   - (1,100,000)
                                                                               
     Cash outflow/(inflow) from increase/decrease in      2,347,416 (1,624,875)
     liquid resources                                                          
                                                                               
     Other non-cash movements relating to investment        326,635    (93,726)
     gains                                                                     
                                                                               
     Change in net funds/(debt) resulting from cash       3,918,229 (1,875,380)
     flows                                                                     
                                                                               
     Net funds at 1 April 2004                              213,784   2,089,164
                                                                               
     Net funds at 31 March 2005                           4,132,013     213,784
                                                                               

iii. ANALYSIS OF CHANGE IN NET FUNDS

                                                  At      Cash flow          At
                                             1 April                   31 March
                                                2004                       2005
                                                                               
                                                   £              £           £ 
                                                                               
Cash in hand                               1,313,728      1,244,178   2,557,906
                                                                               
Liquid resources                                  56      2,674,051   2,674,107
                                                                               
Debt                                     (1,100,000)              - (1,100,000)
                                                                               
                                             213,784      3,918,229   4,132,013
                                                                               

Notes to the financial statements

1. Loss per share

The calculation of loss per share is based on the loss attributable to ordinary
shareholders of £662,044 (2004: £1,152,649) divided by the weighted average
number of shares in issue during the year, being 280,419,963 (2004:
242,595,053) shares. Warrants outstanding at the year end were anti-dilutive.

2. Dividends

No dividends were paid or proposed in respect of the years ended 31 March 2005
or 2004.

3. The results for the year ended 31 March, 2005 and the balance sheet at that
date have been extracted from the statutory accounts of the Company for that
year, upon which the Company's auditors, Grant Thornton, have confirmed they
will issue an unqualified audit report under Section 235 of the Companies Act
1985. The accounts for the year ended 31 March, 2005 will be filed with the
Registrar of Companies following the Annual General Meeting. The financial
information for the year ended 31 March, 2005 has been prepared on the basis of
the accounting policies set out in the accounts for the year ended 31 March,
2005.

The comparative figures for the period ended 31 March, 2004 have been extracted
from the statutory accounts for the Company for the period, filed with the
Registrar of Companies, which carried an unqualified audit report.

4. A copy of the Annual Report and Accounts will be sent to all shareholders
shortly and will be available from the Company's registered office, 29 Curzon
Street, London W1J 7TL.