Interim Results

SOFTWARE RADIO TECHNOLOGY PLC                         

                           (the "Company" or "SRT")                            

          INTERIM RESULTS FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2005           

CHAIRMAN'S STATEMENT

I am pleased to announce SRT's first set of results as a quoted company.

SRT successfully floated on AIM on 2 November 2005 in conjunction with a
placing which raised proceeds of £4.04 million (before expenses). The financial
results for the six months ended 30 September 2005, which are set out below,
relate entirely to the pre-flotation period, when the group consisted of
Software Radio Technology (UK) Limited and its subsidiaries, Software Radio
Technology Limited and Software Radio Technology (Marine Technology) Limited.

Operational Update

TETRA

Since 31 March 2005, SRT has focused on advancing its TETRA handset reference
design contracts with Hisense and TCB and on securing further TETRA contracts
with manufacturers. Additional contracts with HYT and Unimo were signed during
the period. These contracts are all currently in the product development phase,
during which SRT receives income, which is payable against specific development
milestones.

All of the TETRA development contracts are progressing satisfactorily.
Additional contracts are under negotiation.

SRT also generates income from the sale of hardware, incorporating elements of
its TETRA technology, to other TETRA manufacturers. An important recent
development was an agreement with Selex Communications OTE, an Italian
manufacturer of TETRA equipment. This agreement sets out a framework for the
supply of the technology in the period to December 2006 and is expected to
generate sales of up to US$900,000 to SRT over that period.

AIS

SRT receives ongoing royalty income from its two AIS Class A transponder
licence contracts.

The Company's prototype AIS Class B transponder design has been launched and
the response has been extremely encouraging. It is clear that there is
significant market demand for a lower cost AIS device targeted at the leisure
vessel market.

The Directors intend to adopt a dual strategy in addressing the market for the
Class B product. SRT will offer the reference design approach, which is also
used for the TETRA handset design and the AIS Class A design. Under this
approach, the design is licensed to manufacturers in return for licence and
product development fees and ongoing royalties. However, the Directors also
intend to market the Class B design as a complete product. A contract has been
agreed with a major electronics company in China for the outsourced manufacture
of the Class B product.

Conclusion

We are encouraged by the progress SRT is making. We have had a successful debut
on AIM which has given us the funds to accelerate the development of the
business.

The TETRA development contracts are progressing in line with expectations and
the response from the initial launch of our AIS Class B transponder has been
extremely encouraging.

Richard Moon

Chairman

For further information please contact:

Software Radio Technology plc                                 Tel: [phone]
                                                                               
Simon Tucker                                       [e-mail]
                                                                               
Shamus Kelly                                       [e-mail]
                                                                               
Matthew Rogers                                   [e-mail]
                                                                               
Westhouse Securities LLP                                     Tel: [phone]
                                                                               
Tim Feather                                 [e-mail]
                                                                               
The Communication Group plc                                  Tel: [phone]
                                                                               
Richard Evans/Elizabeth Skerritt             [e-mail]

CONSOLIDATED PROFIT AND LOSS ACCOUNT

FOR THE 6 MONTHS ENDED 30 SEPTEMBER 2005

                                            Six months to         Six months to
                                                                               
                                             30 Sept 2005          30 Sept 2004
                                                                               
                                                Unaudited             Unaudited
                                                                               
                                                        £                     £
                                                                               
Turnover                                        1,220,267               687,113
                                                                               
Cost of sales                                   (741,515)             (596,319)
                                                                               
Gross profit                                      478,752                90,794
                                                                               
Administrative expenses                       (1,029,185)             (865,249)
                                                                               
Loss on ordinary activities before              (550,433)             (774,455)
interest                                                                       
                                                                               
Other interest receivable and similar               4,640                   141
income                                                                         
                                                                               
Interest payable and similar charges             (11,484)              (14,470)
                                                                               
Loss on ordinary activities before              (557,277)             (788,784)
taxation                                                                       
                                                                               
Tax on loss on ordinary activities                160,524               366,328
                                                                               
Loss on ordinary activities after               (396,753)             (422,456)
taxation                                                                       

The profit and loss account has been prepared on the basis that all operations
are continuing operations.

There are no other recognised gains or losses other than those passing through
the profit and loss account.

CONSOLIDATED BALANCE SHEET

AS AT 30 SEPTEMBER 2005

                                              30 Sept 2005     30 Sept 2004
                                                                           
                                                 Unaudited        Unaudited
                                                                           
                                                         £                £
                                                                           
Fixed Assets                                                               
                                                                           
Intangible assets                                2,157,310          826,282
                                                                           
Tangible assets                                    335,477          177,317
                                                                           
                                                 2,492,787        1,003,599
                                                                           
Current Assets                                                             
                                                                           
Stocks                                              23,496          148,289
                                                                           
Debtors                                          1,267,614          431,675
                                                                           
Cash at bank and in hand                            40,776          228,617
                                                                           
                                                 1,331,886          808,581
                                                                           
Creditors: amounts falling due within          (1,400,696)      (1,768,642)
                                                                           
one year, including convertible debt                                       
                                                                           
Net current liabilities                           (68,810)        (960,061)
                                                                           
Total assets less current liabilities            2,423,977           43,538
                                                                           
Creditors: amounts falling due after             (447,558)                -
                                                                           
more than one year, including                                              
                                                                           
convertible debt                                                           
                                                                           
                                                 1,976,419           43,538
                                                                           
Capital and reserves                                                       
                                                                           
Called up share capital                             12,520           10,857
                                                                           
Share premium account                            5,455,486        2,909,502
                                                                           
Other reserves                                       2,857                -
                                                                           
Profit and loss account                        (3,494,444)      (2,876,821)
                                                                           
                                                 1,976,419           43,538
                                                                           
Equity interests                                 1,976,419           40,681
                                                                           
Non equity interests                                     -            2,857
                                                                           
                                                 1,976,419           43,538

CONSOLIDATED CASHFLOW STATEMENT

FOR THE PERIOD ENDED 30 SEPTEMBER 2005

                                       Note   30 Sept 2005        30 Sept 2004
                                                                              
                                                 Unaudited           Unaudited
                                                                              
                                                         £                   £
                                                                              
Operating activities                                                          
                                                                              
Cash flow from operating activites       1       (824,997)         (1,053,363)
                                                                              
Returns on investment and servicing                                           
                                                                              
of finance                                                                    
                                                                              
Interest paid                                      (3,828)                   -
                                                                              
Interest received                                    4,640                 141
                                                                              
                                                 (824,185)         (1,053,222)
                                                                              
Taxation                                           160,524             366,328
                                                                              
Capital expenditure                                                           
                                                                              
Payments to acquire intangible fixed             (678,707)            (16,935)
assets                                                                        
                                                                              
Payments to acquire tangible fixed               (237,302)            (93,177)
assets                                                                        
                                                                              
                                               (1,579,670)           (797,006)
                                                                              
Financing                                                                     
                                                                              
Loans introduced                                         -             900,040
                                                                              
Issue of ordinary shares                            50,000                   -
                                                                              
(Decrease)/increase in cash                    (1,529,670)             103,034
equivalents                                                                   
                                                                              
Cash equivalents at start of period              1,067,650             125,583
                                                                              
Cash equivalents at end of period                (462,020)             228,617
                                                                              
Cash equivalents comprise                                                     
                                                                              
Cash and cash equivalents                           40,776             228,617
                                                                              
Bank overdrafts                                  (502,796)                   -
                                                                              
                                                 (462,020)             228,617

Notes:

1.   Cashflow from operating activities       30 Sept 2005        30 Sept 2004
                                                                              
                                                 Unaudited           Unaudited
                                                                              
     Operating loss                              (542,618)           (774,455)
                                                                              
     Depreciation                                   64,328              45,818
                                                                              
     Amortisation                                   73,141              92,279
                                                                              
     Decrease/(Increase) in stocks                 111,241           (143,599)
                                                                              
     (Increase)/Decrease in debtors              (577,749)             251,049
                                                                              
     Increase/(Decrease) in creditors               46,660           (524,455)
                                                                              
     Net cash inflow from operating              (824,997)         (1,053,363)
     activities                                                               
                                                                              
2.   The unaudited interim financial statements have been prepared on a basis 
     consistent with the statutory financial statements of Software Radio     
     Technology (UK) Limited for the year ended 31 March 2005. The interim    
     financial statements, which have been approved by the directors, are     
     unaudited and have not been subject to independent review as defined in  
     the Auditing Practices Board Bulletin 1999/4 and do not constitute full  
     statutory financial statements as defined in section 240 of the Companies
     Act 1985.                                                                
                                                                              
3.   Copies of these interim results will be sent to shareholders.