Interim Results

Frenkel Topping Group PLC
27 September 2005

               * * * FOR RELEASE   -   7:00A.M.   -   27 September 2005 * * *



                              FRENKEL TOPPING GROUP PLC
                          ('FRENKEL TOPPING' OR 'THE GROUP')

                           INTERIM RESULTS FOR THE PERIOD
                           1 JANUARY 2005 TO 30 JUNE 2005

Frenkel Topping provides specialist independent financial advice on the
investment of personal injury damages and clinical negligence awards.  Frenkel
Topping offers a complete service for all personal injury claim handlers,
lawyers and individual clients, dealing with awards from a few thousand pounds
to multi-million pound cases.  Frenkel Topping's expertise includes asset
protection, bespoke investment portfolios, analysis of periodical payments,
Court of Protection portfolios and provision of trustee and receivership bank
accounts.

Financial Highlights

Turnover                                                £1,238,198
Profit before exceptional items,
  interest, taxation and goodwill
  amortised                                             £     94,937
Loss before taxation and
 goodwill amortised                                     £    (45,132)

Adjusted earnings per share for the period from 1 January 2005 to 30 June 2005
were 0.21p.

Operational Highlights

•         Funds under management as at 30 June 2005, £139 million
•         Business re-organisation successfully implemented
•         Frenkel Topping brand name established
•         Well-positioned to benefit from the introduction of the Courts Act
•         Improved trading since April 2005
•         £501,000 of investment disposals in July 2005 to provide additional
          working capital


For further information:-

Frenkel Topping Group plc -      Richard Fraser
                                 (Chief Executive)
                                 Tel No. 0161 886 8000



                         FRENKEL TOPPING GROUP PLC

                          RESULTS FOR THE PERIOD
                     1 JANUARY 2005 TO 30 JUNE 2005

                           CHAIRMAN'S STATEMENT

I am pleased to announce the Group results for the six months ended 30 June
2005.  For the period from 1 January to 30 June 2005, the Group recorded a
turnover of £1.24 million and a profit on ordinary activities before exceptional
items, interest, taxation and goodwill amortisation of £94,937.  There was a
loss before taxation and goodwill amortised of £(45,132).

Adjusted basic earnings per ordinary share were £0.21p.

Net debt as at 30 June 2005 was £515,942 and the net asset value of the Group as
at 30 June 2005 was £3,435,877.  The board does not propose an interim dividend.

Our main achievement to date continues to be the establishment of the Frenkel
Topping brand name as one of the leaders in the field of independent financial
advice for personal injury victims.  However, a major change to the way personal
injury claims will be awarded was implemented with effect from 1 April 2005 when
sections 100 and 101 of the Courts Act 2003 came into force.  From this date,
Courts have the power to impose periodical payment orders as part of a personal
injury or clinical negligence settlement.

We are certain that periodical payment orders will produce a major change in the
way personal injury claims are settled.  A claimant's ongoing needs will have to
be fully assessed by a judge and the Courts will need the advice and expertise
of groups such as Frenkel Topping.  The strength of the Frenkel Topping brand
will ensure that the company is well placed to take advantage of these
significant changes in the years to come.

These changes in the market place, along with our own ambitions for the future,
necessitated the implementation of a Group re-organisation which, as reported in
my last statement, would affect the results for this year.  The Group has
incurred a number of one-off exceptional costs including redundancy and
recruitment costs, legal fees and increased marketing spend which will total
approximately £150,000, and will be included in the financial results for the
year ending 31 December 2005.  The costs incurred up to 30 June 2005 were
£131,000.

Our income is drawn primarily from fees and commissions together with recurring
income from investment funds under management.  One of our key areas of focus
has been to build our investment funds under management in order to provide
recurring fee income.  Since the year-end our funds under management have
increased from £119 million to £139 million, thus supporting our target to
achieve £250 million by the end of 2007.

Trading has improved since the introduction of the Courts Act in April 2005 and
we expect this trend to continue for the remainder of this year and into 2006.

On 22 July 2005, the Group disposed of 16% of the issued share capital of each
of Frenkel Topping Limited and Frenkel Topping Structured Settlements for the
net cash sum of £501,000 in order to provide additional working capital.

David R Southworth
Non-Executive Chairman
16 September 2005



                            Frenkel Topping Group Plc
                     Consolidated profit and loss account
                     for the period ending 30 June 2005

                                                 Six months ended                       Year ended
                                                   30 June                             31 December
                                             2005            2004                             2004
                                      (Unaudited)     (Unaudited)                        (Audited)
                                                £               £                                £
TURNOVER                                1,238,198               -                        1,093,238
Cost of Sales                            (575,270)              -                        (579,079)
Gross Profit                              662,928               -                         514,159

ADMINISTRATIVE EXPENSES
Goodwill amortisation                    (188,517)              -                        (159,181)
Exceptional expenses                     (130,991)              -                                -
Other                                    (567,991)              -                        (467,769)
                                         (887,499)              -                        (626,950)

OPERATING LOSS                           (224,571)              -                        (112,791)

Interest receivable                             -               -                            6,830
Interest payable and similar
charges                                    (9,078)              -                         (36,840)
LOSS ON ORDINARY ACTIVITIES
BEFORE TAXATION                          (233,649)              -                        (142,801)
Tax on loss on ordinary activities          2,607               -                          (5,227)
LOSS ON ORDINARY ACTIVITIES
AFTER TAXATION                           (231,042)              -                        (148,028)

Non-equity minority interests               5,100               -                          (4,344)
LOSS FOR THE FINANCIAL PERIOD
ATTRIBUTABLE TO SHAREHOLDERS             (225,942)              -                        (152,372)

De Deficit brought forward               (152,372)              -                                -
DEFICIT CARRIED FORWARD                  (378,314)              -                        (152,372)

Adjusted basic earnings per
ordinary share                               0.21p              -                             0.02p
Basic loss per ordinary share               (0.50p)             -                          (0.46p)




                                               Frenkel Topping Group Plc
                                              Consolidated balance sheet
                                                  as at 30 June 2005


                                                      30 June                    31
                                                                           December
                                               2005             2004            2004
                                          (Unaudited)      (Unaudited)     (Audited)

                                                  £                £               £
FIXED ASSETS
Intangible assets                         3,437,226                -       3,628,243
Tangible assets                             119,407                -         139,931
                                          3,556,633                -       3,768,174

CURRENT ASSETS
Stocks                                      161,524                -          80,893
Debtors                                     682,556                -         793,938
Cash at bank and in hand                      2,809        1,127,300          15,568
                                            846,889        1,127,300         890,399
CREDITORS amounts falling due
within one year                          (1,145,847)         (76,600)      (1,107,980)

NET CURRENT ASSETS/(LIABILITIES)           (298,958)       1,050,700        (217,581)

TOTAL ASSETS LESS CURRENT
LIABILITIES                               3,257,675        1,050,700       3,550,593

CREDITORS amounts falling due
after more than one year                     (8,487)               -         (67,756)
                                          3,249,188        1,050,700       3,482,837
PROVISIONS FOR LIABILITIES AND
CHARGES                                      (5,612)               -          (8,219)
MINORITY INTERESTS
Non-equity minority interests               192,301                -         187,201
NET ASSETS                                3,435,877        1,050,700       3,661,819

CAPITAL AND RESERVES
Called up share capital                     227,998           75,850         227,998
Share premium account                     3,586,193          974,850       3,586,193
Profit and loss account                    (378,314)               -        (152,372)
EQUITY SHAREHOLDERS' FUNDS                3,435,877        1,050,700       3,661,819


                           Frenkel Topping Group Plc
                        Consolidated cash flow statement
                       for the period ending 30 June 2005


                                                                   Six months ended                Year ended
                                                                     30 June 2005                  31 December
                                                                     2005               2004               2004
                                                              (Unaudited)        (Unaudited)          (Audited)
                                                                        £                  £                  £
Operating loss                                                  (224,571)                  -          (112,791)
Depreciation and amortisation charge                              218,039                  -            185,589
(Increase)/ decrease in work in progress                         (80,631)                  -             52,940
Decrease/(increase) in debtors                                     91,691                  -          (294,691)
(Decrease)/increase in creditors                                (151,563)             76,600          (758,067)
Net cash (outflow)/inflow from operating activities             (147,035)             76,600          (927,020)

Returns on investments and servicing of finance
Interest received                                                       -                  -              6,830
Interest paid                                                     (9,078)                  -           (36,840)
                                                                  (9,078)                  -           (30,010)
Taxation
UK corporation tax paid                                                 -                  -           (23,483)

Capital expenditure and financial investment
Purchase of tangible fixed assets                                 (6,498)                  -            (7,381)
                                                                  (6,498)                  -            (7,381)
Acquisitions
Purchase of additional shareholding in subsidiaries                     -                  -          (600,000)
Net debt acquired with subsidiaries                                     -                  -          (309,010)
                                                                        -                  -          (909,010)
Financing
Issue of ordinary shares (net of costs)                                 -          1,050,700          1,565,241
Repayment of bank loans                                          (13,296)                  -           (23,956)
Other loans advanced                                              250,000                  -                  -
Other loan repayments                                            (77,159)                  -           (39,299)
Capital element of finance lease payments                         (4,580)                  -            (6,554)
                                                                  154,965          1,050,700          1,495,432

(Decrease)/increase in cash in the period                         (7,646)          1,127,300          (401,472)


                             Frenkel Topping Group Plc

  Notes forming part of the interim results for the period ended 30 June 2005

1.       The interim results have been prepared in accordance with the
accounting policies adopted in the accounts for the period ended 31 December
2004.  The interim results are unaudited and do not comprise statutory accounts
within the meaning of section 240 of the Companies Act 1985.  The interim
results were approved by the Board on 26 September 2005.

      The results for the period ended 31 December 2004 have been extracted from
the group accounts for that period.  Those financial statements have been filed 
with the Registrar of Companies and included an auditor's report which was 
unqualified.

2.       The results include the acquisition of Frenkel Topping Limited and
Frenkel Topping Structured Settlements Limited with effect from 28 July 2004.

3.       Adjusted* earnings/(loss) per ordinary share is based on the adjusted
profit for the period of £93,566 and on 45,599,614 ordinary shares of 0.5p
following consolidation each being the weighted average number of ordinary
shares in issue during the period.  The basic earnings per share is based upon
the net loss for the period of £(225,942).

(*the adjusted basic earnings per share is calculated upon the results before
goodwill on acquisitions and exceptional items)



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