Interim Results

Harrier Group PLC
28 September 2006


                               Harrier Group Plc

              Interim results for the period ended 30th June 2006


CHAIRMAN'S STATEMENT

The Group continued to trade as an investment company for the six months ended
30 June 2006, with an audited surplus of income over expenditure of £43,015.

Cash balances audited as at 30 June 2006 amounted to £4.6 million.

The Group's shares were suspended on 1 June 2006 under Rule 8 of the AIM Rules.
The listing in Harrier Group plc will be cancelled with effect from 7.00am on 4
December 2006 if it has not undertaken an acquisition by that date.

On 2 June 2006 the Board announced it had been in discussions with a potential
acquisition. Those discussions have now been terminated.

The Board continues to consider a number of other potential investment
opportunities as well as keeping other strategic alternatives under review in
order to maximise shareholder value.

The board will update shareholders if and when appropriate.


A L R MORTON
Chairman


PROFIT AND LOSS ACCOUNT

                                    Audited       Unaudited          Audited
                                 six months      six months       year ended
                               30 June 2006    30 June 2005 31 December 2005
                                          £               £                £

Turnover                                  -       1,358,380          333,062

Cost of sales                             -       (728,320)                -

Gross Profit                              -         630,060          333,062

Administrative expenses            (59,852)       (879,307)        (468,111)

Other income                              -               -           72,002

Operating (loss)/profit
before exceptional costs           (59,852)       (249,247)         (63,047)

Loss on sale of investment in
subsidiary undertakings                   -               -        (522,384)

Operating (loss)/profit            (59,852)       (249,247)        (585,431)

Profit on sale of discontinued
operations                                -       3,287,070                -

Profit/(loss) before interest      (59,852)       3,037,823        (585,431)

Interest receivable                 103,030         140,500          177,457

Interest payable                      (163)         (1,086)             (20)

Profit/(Loss) on ordinary
activities before taxation           43,015       3,177,237        (407,994)

Taxation                                  -               -                -

Profit/(Loss) on ordinary
activities after taxation            43,015       3,177,237        (407,994)

Basic profit/(loss) per share         0.14p          10.58p          (1.33p)

Diluted profit/(loss) per            
share                                0.001p           9.67p          (1.30p)



BALANCE SHEET

                                   Audited       Unaudited          Audited
                              30 June 2006    30 June 2005 31 December 2005
                                         £               £                £

Current assets
Debtors                             11,462         167,742            4,466
Cash and bank balances           4,605,679       4,338,898        4,594,842

                                 4,617,141       4,506,640        4,599,308

Creditors
Amounts falling due within
one year                          (10,350)        (55,066)         (35,532)

Net current assets               4,606,791       4,451,574        4,563,776

Net assets                       4,606,791       4,451,574        4,563,776

Capital and reserves
Called up share capital            315,294         307,462          315,294
Share premium account               91,233          50,351           91,233
Profit and loss account          4,200,264       4,093,761        4,157,249

Equity shareholders' funds       4,606,791       4,451,574        4,563,776



CASH FLOW STATEMENT

                                          Audited  Unaudited       Audited
                                          30 June    30 June   31 December
                                             2006       2005          2005
                               Note             £          £             £

Net cash (outflow)/inflow
from operating activities        4       (92,030)  (842,833)     2,041,286

Returns on investments and
servicing of finance
Interest received                         103,030    140,500       177,457
Interest paid                               (163)    (1,086)          (20)

Net cash inflow from
investments
and servicing of finance                   102,867    139,414       177,437

Capital expenditure and
financial investment
Sales proceeds from sale of
subsidiaries                                    -  4,500,000     4,500,000
Net cash disposed with                          
subsidiary                                      -  (969,215)             -
Proceeds used in repayment of
intercompany debt                               -          -   (3,589,780)
Professional fees on sale                       -                 (73,495)
Purchases of tangible fixed                     
assets                                          -          -       (8,048)

Net cash inflow/(outflow)
from
investing activities                            -  3,530,785       828,677

Net cash inflow before                     
financing                                   10,837  2,827,366       828,677

Financing

Issue of ordinary share                         
capital                                         -     64,710       113,424

Net cash inflow from                            
financing                                       -     64,710       113,424

Increase in cash                           10,837  2,892,076     3,160,824

Reconciliation of net cash
flow to movement in net funds


Increase in cash in the                    
period                                     10,837  2,892,076     3,160,824

Movement in net funds in the               
period                                     10,837  2,892,076     3,160,824

Net funds at start of period            4,594,842  1,446,822     1,434,018

Net funds at end of period       5      4,605,679  4,338,898     4,594,842



NOTES TO THE INTERIM RESULTS

1. The interim figures for the six month period to 30 June 2006 are audited but
   do not constitute statutory accounts.

2. The financial information set out in the interim statement has been prepared
   in accordance with United Kingdom accounting standards. The accounting 
   policies have been consistently applied both in 2005 and 2006 and are 
   described in the 2005 financial statements.

3. The calculation of basic earnings per ordinary share of 0.14p each is based
   on the profit on ordinary activities after taxation divided by the weighted
   average number of ordinary shares in issue during the period of 31,529,405. 
   The diluted profit per share includes share options not exercised and the 
   weighted average number of ordinary shares in the period is 32,492,829.

4. Reconciliation of operating profit/(loss) to net cash inflow/(outflow) from
   operating activities:

                          6 months to     6 months to   Year ended 31
                         30 June 2006    30 June 2005   December 2005

                                    £               £               £

Operating (loss)/profit      (59,852)       (249,247)        (63,047)
Depreciation                        -          26,158          26,249
Loss on disposal of
fixed assets                        -               -               -
Decrease/(increase) in             
stock                               -           7,172               -
Decrease/(increase) in
debtors                       (6,996)       2,188,398       3,443,956
(Decrease)/increase in
creditors                    (25,182)     (2,815,314)     (1,365,872)

Net cash (outflow)/
inflow from
Operating activities         (92,030)       (842,833)       2,041,286


5. Analysis of net funds:

                       At beginning   Cashflow     Other non  At end of
                          of period             cash changes     period
                                  £          £             £          £

Cash at bank and in       4,594,842     10,837             -  4,605,679
hand


6. The results for the year ended 31 December 2005 as shown in this report do
   not constitute statutory accounts but are an abridged version of the 
   company's 2005 accounts which have been filed with the Registrar of 
   Companies. The accounts to 31 December 2005 did not contain any statement 
   under section 237 (2) or (3) of the Companies Act 1985 and the auditors' 
   report was unqualified.

7. The interim report was approved by the directors on the 25th September 2006.
   A copy of the interim report will be posted to shareholders and will also be
   available from the company's registered office at Lion House, Red Lion 
   Street, London, WC1R 4GB.

8. The trading subsidiary companies, Harrier Zeuros Limited, Harrier Zeuros
   Storage Solutions Limited and Ikan Limited were sold on 10 March 2005 
   realising a profit of £3,287,070. The profit and loss account for the six 
   months to 30th June 2005 is consolidated and includes the trading of the 
   subsidiaries up to the date of sale.




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