Interim Results

Fiske PLC
18 January 2001

FISKE PLC

Unaudited interim results for 6 months to 30 November 2000

CHAIRMAN'S STATEMENT

I am pleased to report that the net profits before taxation for the six months
ended the 30th November, 2000 amounted to £1,108,804. This amount included a
profit of £540,000 arising on the sale of 20,000 shares in the London Stock
Exchange (LSE). Thus, after excluding this amount, the profit from ordinary
activities for the period was £568,804 compared with a profit of £313,133 for
the same period in the previous year. Adjusted earnings per share, excluding
the aforementioned profit on the sale of the LSE shares, was 5.6p (3.5p in
1999).

The period under review showed a significant improvement on the same period
last year but, as expected, did not match the volumes of business and earnings
achieved in the second half of last year. Nevertheless, we are pleased with
our performance and in the strengthening of our balance sheet with its strong
cash position, putting the Company in good stead for the future.

Having regard to our improvement in earnings, also the non-trading profits on
the sale of the LSE shares and in order to reduce the disparity between our
interim and final dividends, your Directors have decided to raise the interim
dividend from the equivalent of 1.25p to 2.00p per share.

At the 30th November, 2000 our shareholding in the LSE was 80,000 shares.
Since that date, a further 30,000 shares have been sold to realise an
additional profit, before tax, of £698,000. The remaining 50,000 shares is
held as a fixed asset investment at nil cost and value in our balance sheet
and will be kept under continuing view.

Our Finance Director, Sylvia Earp, left the Company to pursue other interests
and we shall shortly be announcing her successor. Our best wishes go to Ms.
Earp with our thanks for her past services to the Company.

The outlook for the London Stock Market for the year 2001 contains elements of
volatility and uncertainty. The market correction in the TMT sector as a
result of the bubble from excessive demand and activity last year would appear
to have further to go.

The impact of abnormal Stock Exchange activity does not disappear quickly nor
without cost and we can expect a quieter period ahead as a result. However,
other sectors of the market offer attractions, especially in the 'old economy'
equities and corporate bonds. Whilst our results will inevitably be influenced
by market conditions, we look forward to the remainder of our financial year
with confidence.

The interim dividend of 2p will be paid on the 9th February, 2001 to
shareholders on the register at the 26th January, 2001. The provisional
ex-dividend date is the 22nd January, 2001.

G. MAITLAND SMITH

CHAIRMAN

18th January, 2001.



FISKE PLC.

KEY HIGHLIGHTS TO INTERIM STATEMENT

FOR HALF-YEAR ENDED THE 30TH NOVEMBER, 2000

Net profits from ordinary activities:
Before taxation                                                     £568,804
Increase on 1999                                                    81%
Additional profits from disposal of
Fixed asset investments (1999 -nil)                                 £540,000
Adjusted earnings per share, excluding
Profits from disposal of fixed asset
Investments                                                         5.6p
Increase on 1999                                                    60%
Interim Dividend per share                                          2.0p
Equivalent increase on 1.25p paid in April 2000                     60%


Enquiries to or contact:

Mr. Clive F. Harrison - Chief Executive               020-7448-4700.

18th January,2001.


PROFIT AND LOSS ACCOUNT

For the six months ended 30 November 2000

                                            Six months    Six months     Year
                                               ended         ended      ended
                                            30 November   30 November   31 May
                                               2000          1999        2000
                                             Unaudited     Unaudited   Audited
                                                 £             £          £
TURNOVER
Gross commission receivable                 2,798,480     2,246,178   6,915,531
Commission payable                         (1,212,992)     (940,277) (2,882,395)
Other income                                  241,209       178,600     484,530

OPERATING COSTS                             1,826,697     1,484,501   4,517,666

Staff costs                                  (565,772)     (509,951) (1,352,352)
Depreciation                                  (46,592)      (41,585)    (98,083)
Other operating charges                      (766,480)     (646,203) (1,639,282)

                                           (1,378,844)   (1,197,739) (3,089,717)

OPERATING PROFIT                              447,853       286,762   1,427,949

Gain on disposal of fixed asset               540,000             -           -
investment
Other income from fixed asset                   2,429             -       2,429
investments
Interest receivable and similar               121,152        43,350     143,721
income
Interest payable and similar charges           (2,630)      (16,979)    (22,091)

                                              660,951        26,371     124,059

PROFIT ON ORDINARY ACTIVITIES BEFORE        1,108,804       313,133   1,552,008
TAXATION

Taxation on profit on ordinary               (366,500)     (104,500)   (519,000)
activities

PROFIT ON ORDINARY ACTIVITIES AFTER           742,304       208,633   1,033,008
TAXATION

Dividends paid and proposed                  (130,000)      (74,075)   (317,825)

Retained profit for the financial             612,304       134,558     715,183
year
Retained profit brought forward               901,822       186,639     186,639

Retained profit carried forward             1,514,126       321,197     901,822


BALANCE SHEET

For the six months ended 30 November 2000
                                         Six months    Six months   Year ended
                                            ended         ended       31 May
                                         30 November   30 November     2000
                                            2000          1999       Audited
                                          Unaudited     Unaudited
                                              £             £           £   
FIXED ASSETS
Tangible assets                             215,703       231,737       244,881
Investments                                  74,682             5        74,682

                                            290,385       231,742       319,563
CURRENT ASSETS
Market and client debtors                20,092,922    51,423,042    37,281,284
Other debtors                               306,059       315,294       318,389
Cash at bank and in hand                  4,362,439     1,946,734     3,039,510

                                         24,761,420    53,685,070    40,639,183

CREDITORS: amounts falling due within
one year
Market and client creditors             (19,874,773)  (51,252,090)  (36,422,393)
Other creditors                          (1,691,669)     (839,900)   (1,663,294)

                                        (21,566,442)  (52,091,990)  (38,085,687)

NET CURRENT ASSETS                        3,194,978     1,593,080     2,553,496

TOTAL ASSETS LESS CURRENT                 3,485,363     1,824,822     2,873,059

LIABILITIES
PROVISION FOR LIABILITIES AND CHARGES        (3,617)       (3,617)       (3,617)

                                           3,481,746     1,821,205    2,869,442

CAPITAL AND RESERVES
Called up share capital                    1,625,000     1,500,000    1,625,000
Share premium account                        342,620             8      342,620
Profit and loss account                    1,514,126       321,197      901,822

EQUITY SHAREHOLDERS' FUNDS                3,481,746      1,821,205    2,869,442


CASH FLOW STATEMENT

For the six months ended 30 November 2000

RECONCILIATION OF OPERATING PROFIT TO NET CASH INFLOW/(OUTFLOW) FROM OPERATING
ACTIVITIES
                                           30 November   30 November   31 May
                                              2000          1999        2000
                                            Unaudited     Unaudited    Audited
                                                £             £           £
Operating profit                            447,853       286,762     1,427,949
Depreciation charges                         46,592        41,585        98,083
Decrease/(increase) in debtors           17,200,692   (36,467,895)  (22,329,232)
(Decrease)/increase in creditors        (16,772,801)   35,114,330    20,572,272

Net cash inflow/(outflow) from operating    922,336    (1,025,218)     (230,928)
activities

                                           30 November   30 November   31 May
                                              2000          1999        2000
                                            Unaudited     Unaudited    Audited
                                                £             £           £
CASH FLOW STATEMENT

Net cash inflow/(outflow) from operating     922,336    (1,025,218)    (230,928)
activities

Returns on investment and servicing of       660,951        26,371      124,059
finance

Taxation
UK corporation tax paid                            -        13,246      (35,174)

Capital expenditure                          (17,414)      (31,091)    (175,410)

Equity dividends paid                       (242,944)      (63,392)    (137,467)

Financing                                          -       212,158      679,770

Increase/(decrease) in cash                1,322,929      (867,926)     224,850


Increase/(decrease) in cash in the year    1,322,929      (867,926)     224,850

Change in net cash                         1,322,929      (867,926)     224,850
Net funds at 1 June 2000                   3,039,510     2,814,660    2,814,660

Net funds at 30 November 2000              4,362,439     1,946,734    3,039,510


Earnings per ordinary share

Headline earnings per share has been calculated in accordance with the
definition in the Institute of Investment Management Research ('I I M R')
statement of Investment Practice No. 1,'The definition of IIMR Headline
Earnings',in order to take out the exceptional gain arising on disposal of
London Stock Exchange shares as follows:

                                              Six months   Six months    Year
                                                ended        ended      ended
                                             30 November  30 November   31 May
                                                 2000         1999       2000

                                              Unaudited    Unaudited   Audited
                                                  £            £          £
Basic earnings per ordinary share               11.4p         3.5p      17.1p

Adjustment:

Gain on disposal of fixed asset investment       5.8p           -          -
after taxation
Headline earnings per ordinary share             5.6p         3.5p      17.1p
Diluted Earnings per ordinary share             11.1p         3.5p      16.5p
Adjustment:
Gain on disposal of fixed asset investment      5.7p           -          -
after taxation
Headline diluted earning per ordinary share     5.4p          3.5p      16.5p