Profits Warning

Frenkel Topping Group PLC
20 January 2006


                           FRENKEL TOPPING GROUP PLC
                                 (the 'Group')


In March 2006 we will be announcing our results for the year ended 31 December
2005, the first full year of trading since the admission to AIM in July 2004.


The Directors expect that the loss for the full year for the Group will be
significantly higher than expected, reflecting further investment costs,
increased provisions and changes to accounting treatments.


The Directors are working towards restoring the Group to profitability.


For further information, please contact:


Frenkel Topping Group plc



Richard Fraser (Chief Executive)          Tel: [phone]



W.H. Ireland Limited


D.W. Youngman                             Tel: [phone]


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