Final Results

Newmark Technology Group PLC
16 August 2002



                          Newmark Technology Group plc
                   ('Newmark', 'the Company' or 'the Group')
                 Audited Results for the Year Ended 30 April 2002

Chairman's Statement

Overview

The year has seen the disposal of the business and trading assets of Vema N.V 
('Vema').  We have also announced today the proposed purchase of the minority
interest in Vema and acquisition of Grosvenor Technology Limited ('Grosvenor').
The sale of the Vema business is discussed in detail below.  This, together with
the acquisition of Grosvenor, reflects your Board's concern to improve
shareholder value.  These transactions represent a 'reverse takeover' under the
rules of the Alternative Investment Market ('AIM').  These documents require
your detailed consideration and I trust that you will support the Board and vote
in favour of these resolutions at the Extraordinary General Meeting.

Disposal of Vema Business

We announced in May 2001 the flotation of our Dutch subsidiary, Vema, on AIM,
which resulted in our interest in Vema being reduced to 51 per cent.  We
believed that this would help Vema to develop its geographical and product range
whilst demonstrating that the market capitalisation of the Newmark Group did not
reflect the underlying value of its businesses.  In our interim report, the
Board was pleased to report a substantial increase in profits for the six month
period with a 10 per cent increase in turnover.  However, greater competitive
pressures since the introduction of the Euro affected trading results in the
second half.

In the second half of the year, there was an approach from Assa Abloy AB Group
('Assa Abloy') to acquire the Vema business.  Vema is a major distributor for
Assa Abloy's subsidiary, Fritz Fuss Gmbh & Co ('Eff Eff') a leading lock
manufacturer based in Germany, over 60 per cent of Vema's products are sourced
from Eff Eff.  On 29 April 2002, your Board announced the disposal of the
trading business and assets of Vema to Assa Abloy for £6 million payable in two
tranches, £5.5 million on completion and the balance of £0.5 million agreed
since the year end on the basis of the net assets and profits in the audited
accounts for the year.  In view of the increases in competitive pressures, the
Board believed that it was prudent to dispose of the business for a good price.
We wish the company every success in the future.

As a consequence there is now little point in Vema continuing as a separate
listed company with its associated costs, and accompanying these accounts there
are details of an offer by Newmark Technology Group PLC to buy back the 49 per
cent minority interest in Vema.  The financial adviser to Vema has advised the
Board of Vema that this offer is fair and reasonable and that Vema shareholders
should accept the offer, in the absence of any higher offer.

As Newmark Technology Group PLC is unable to issue shares at below nominal
value, there is also attached the details of a capital reorganisation which will
be presented for approval at the Extraordinary General Meeting.

Acquisition of Grosvenor Technology Limited

I commented in the interim and previous reports on the difficulties that Newmark
Technology Limited had experienced in gaining critical sales mass and that from
1 March 2002 the day to day management of Newmark Technology Limited would be
performed by Grosvenor, a well established and profitable private company in the
access control business.  Following a successful period of working together, we
have made an offer to acquire Grosvenor for an initial consideration of £3.287
million with a potential maximum deferred consideration of £3.5 million, based
on the trading performance of Grosvenor over the next four years.  The full
details of the offer are set out in the attached documents.  Grosvenor's main
product is a Windows based access control system called JANUS.  All Grosvenor's
products are designed by its in-house research and development team.  Newmark
Technology Limited will continue to distribute the C-Cure range of products.
Newmark's Omni range of products will be streamlined and will in due course be
replaced with JANUS.  The Board believes that Grosvenor meets the criteria laid
down for successful acquisitions into the Group and that this will form the
basis of a quantum leap forward for the Group.

Change of name

Your Board believes that the existing name of your Company does not reflect the
activities performed by the Group.  It is proposed to change the name of the
Company to Newmark Security PLC at the Annual General Meeting as the Directors
believe that the proposed new name better reflects the security focus and
established nature of the Group's activities.

Financial results

The profit on ordinary activities before interest, tax and minority interests in
the year was £2,315,000 (2001: loss £414,000).  The accounts include four
exceptional items in the year:
                                                                                                            £000
Profit on part disposal of investment in Vema arising from the flotation of Vema in the year                 182
Profit on disposal of business and trading assets of Vema NV                                               3,007
Cost of reorganisation and restructuring                                                                    (489)
Amortisation of goodwill                                                                                    (128)

The profits on disposal of the Vema business in the year are stated net of
£3,460,000 goodwill on the original acquisition of the Vema business and written
off to reserves at that time.  In accordance with standard accounting
convention, this goodwill is required to be charged in the profit and loss
account on disposal of the business and credited to reserves.

The operating loss for the year before exceptional items was £257,000 (2001:
loss £298,000).  Turnover for the year was £12.0 million (2001: £12 million).
The reasons for the more significant factors affecting the results of the
divisions are set out below.

Electronic Division

This division specialises in integrated security management systems designed to
control access of personnel and track asset movements.  We launched the new Omni
5 series at the beginning of the year and continued to supply the C-Cure product
line sourced from Sensormatic.  However the underlying sales to sustain the
overhead of the business were still disappointing and, as a result, we decided
to transfer the day to day management of the business to Grosvenor.  This was
completed successfully and following a successful trial period, we now propose
the acquisition of Grosvenor.  Accompanying these accounts are the details of
and rationale for the acquisition.

The closure costs of the offices in Redhill and the assembly plant in Rainton
Bridge have been provided for in the accounts and the estimated cost savings of
£500,000 will benefit the Group going forward.  We will continue to sell the
C-Cure product range alongside the Janus product line of Grosvenor Technology.

In the last annual statement I referred to the ongoing problems we had
experienced with the purchasing commitment by Lik On Security Limited in Hong
Kong, and I reported in the interim figures on the rescheduling of the contract.
I am pleased to report that we have now been able to conclude the contract
with Lik On, and the final settlement has been received and accounted for in the
period.  This terminates the contract that should have been completed in
December 2000.  We are now supplying the Hong Kong market on a non exclusive
basis via Hall Smart Limited, a sister company of Lik On and a wholly owned
subsidiary of Sun Hung Kai Properties.

We have continued our sales and marketing effort in the USA for the Parsec
product range which culminated in the signing up of Casi Rusco, a subsidiary of
Interlogix (now part of GE Capital) as an OEM.  Casi Rusco is one of the main
suppliers to ADT for their access control product and the objective is to supply
and support the ADT branches with Parsec.  This necessitated a proven beta site
for ADT which is now under construction and the launch of Parsec into ADT in the
USA awaits their approval of the beta site.  Subject to the trials proving
successful, ADT will train and launch the product to their internal sales force.
However, progress is taking longer than anticipated and sales are still slow,
therefore we have trimmed overheads to minimise any adverse affects until sales
gather momentum.  We are also in discussions with other potential customers such
as ADI and Ademco International.

Asset Protection Division

The Drion managing director left during the year to pursue other business
interests, which are complementary to the company and is, therefore, expected to
be a major customer of Drion.  A new managing director was appointed to, inter
alia, perform a full review of operating procedures and establish an action plan
to improve the operational efficiency of the business.  The restructuring that
followed this review included the appointment of a new senior management team to
control the three major business operations, sales and marketing, manufacturing
and finance.  The management team has been given business objectives and
specific tasks and the benefits of these changes will be effective during the
second half of the current year.  The changes that have already taken place
include the implementation of computer aided design, increased training for
staff and a more efficient manufacturing process being devised.

On the trading front, the consolidation and rationalisation within the Belgian
banking sector has continued, but Drion has maintained its market share within
the existing customer base as well as establishing new banking customers.  The
commercial section that was established last year has promoted great interest
and the company has gained new customers such as post offices, hospitals,
embassies and government offices.  In particular we were delighted to win a
major contract for security work at Namur railway station with a value of Euros
360,000 (£225,000).

We were disappointed that the third phase of the Algerian export contract was
delayed by twelve months and, consequently, there were no export orders in the
year.  However, a tender was issued by CNEP in Algeria in March for this project
with a value of Euros 20 million over three years.  Positive news in the near
future on at least part of this tender could greatly enhance the division's
performance in the current year.

The increased activity in Safetell in the last few months of the previous year
continued throughout the year under review.  Both order intake and sales enjoyed
a 30 per cent improvement over the previous year.  These higher volumes enhanced
direct labour efficiency which, together with cost control in other areas,
improved margins.

The historical core business of Eclipse rising screens increased by nearly 30
per cent, and the associated after sales service and maintenance improved by 14
per cent.  Countershield sales proved successful in new market areas and
achieved growth of 400 per cent.  Sales of RollerCash increased by 73 per cent
with new customers being gained.  Another cash handling product has been sourced
from Germany to complement RollerCash at the bottom end of the range.  Sales
have already been made to The Post Office and interest has also been expressed
by retail banking customers to address their obligations under the disability
access rules.

The new Eye2Eye product was developed in response to the Disability
Discrimination Act and the first unit has been operational for over six months.
New orders have been secured for installation during the summer using variants
of the basic product.  The Strategic Rail Authority guidelines for station
design specifically require a ticketing counter similar to the Eye2Eye product.

A new wide-span moving glass screen product, MaxiView, has been commissioned by
a major petrol retailer for installation in London during the summer, with good
prospects for a major rollout programme in the following financial year.

Secure Locking Division

This division included Vema prior to the disposal, but still includes Newmark
Security Products Limited which supplies third party sophisticated electronic
and electro mechanical locking systems for a wide variety of high security
applications in the UK.

Balance sheet and cash flow

The Group balance sheet and cash flow reflect the receipt of the proceeds from
the sale of the business and trading assets of Vema on 29 April 2002.  The
balance sheet is also affected by the disposal of the Vema business and trading
assets particularly with regard to stocks and trade debtors.  Other debtors
include the retention of £532,000 on the Vema sales proceeds whilst most of the
corporation tax liability relates to the tax payable on the disposal.
Borrowings have also been substantially reduced in the period with the repayment
of the bank loan for the original acquisition of Safetell.

Employees

I would like to thank all employees for their unstinting efforts on behalf of
the Group, and to send our best wishes for the future to the staff at Vema.

The future

The changes that have taken place during the last twelve months, together with
those that will occur following the Extraordinary General Meeting, will have a
fundamental impact on the structure and composition of the Group.  Your Board
will continue to consider further acquisitions that the Board believe will
increase shareholder value.

MAURICE DWEK
Chairman

For further information please contact:


Maurice Dwek - Chairman                                      Tel:  [phone]
Sassie Rajwan - Chief Executive
Newmark Technology Group PLC

Adam Reynolds/Damian Hamill                                  Tel:  [phone]
Hansard Communications
www.hansardcommunications.com



FINANCIAL INFORMATION

 A. CONSOLIDATED PROFIT AND LOSS ACCOUNTS

The consolidated profit and loss accounts of the Newmark Group for each of the
two years ended 30 April 2002 are set out below:

                                                 2002                 2002
                                  Before goodwill and         Goodwill and         2002         2001    
                                    exceptional items    exceptional items        Total        Total  
                                                 £000                 £000         £000         £000
                                                                                   
Turnover
Continuing operations                           6,479                    -        6,479        6,645
Discontinued operations                         5,548                    -        5,548        5,404
                                                
                                               12,027                    -       12,027       12,049
Cost of sales                                  (7,687)                 (98)      (7,785)      (7,522)
Gross profit                                    4,340                  (98)       4,242        4,527
Other operating income                            597                    -          597            -

Administrative expenses pre
amortisation of goodwill and
exceptional items                              (5,194)                   -       (5,194)      (4,825)

Reorganisation and                                  
restructuring costs                                 -                 (391)        (391)           -
                                                    
Amortisation of goodwill                            -                 (128)        (128)        (116)
                                                    
Administrative expenses - total                (5,194)                (519)      (5,713)      (4,941)
                                              
Operating (loss)/profit
Continuing operations                            (814)                (617)      (1,431)      (1,133)
Discontinued operations                           557                    -          557          719
                                                
                                                 (257)                (617)        (874)        (414)
Profit on part disposal of
investment in subsidiary
company                                             -                   60           60            -

Profit on disposal of
business and net trading
assets                                              -                 3000         3000            -

Profit/(loss) on ordinary
activities before interest                       (257)               2,443        2,186         (414)
                                                
Interest payable                                  (55)                   -          (55)        (206)

Profit/(loss) on ordinary
activities before taxation                       (312)               2,443        2,131         (620)

Tax on profit/(loss) on
ordinary activities                              (179)              (1,435)      (1,614)        (284)
                                                
Profit/(loss) on ordinary
activities after taxation                        (491)               1,008          517         (904)
                                                
Minority interest                                (131)              (1,562)      (1,693)           -

Loss for the financial year                      (622)                (554)      (1,176)        (904)

Dividends                                           -                    -            -            -

Amount withdrawn from reserves                   (622)                (554)      (1,176)        (904)
                                                
                                                                                  pence        pence
Loss per share
-basic and diluted                                                               (1.0p)       (0.8p)
-before exceptional items                                                        (0.5p)       (0.7p)



B.    CONSOLIDATED BALANCE SHEETS

The consolidated balance sheets of the Newmark Group as at 30 April 2001 and
2002 are set out below:

                                                                                        2002          2001
                                                                                        £000          £000
Fixed Assets

Intangible assets                                                                      2,014         2,158
Tangible assets                                                                        1,344         1,483
                                                                                       3,358         3,641
Current Assets

Stocks                                                                                   773         1,656
Debtors                                                                                2,069         2,500
Cash at bank and in hand                                                               6,398           652
                                                                                       9,240         4,808
Creditors:amounts falling due within one year                                         (5,201)       (5,466)
                                                                                     
Net current assets/(liabilities)                                                       4,039          (658)
Total assets less current liabilities                                                  7,397         2,983
Creditors:amounts falling due after more than one year                                  (520)         (665)

                                                                                       
Provisions for liabilities and charges                                                 (453)         (249)
                                                                                       6,424         2,069
Capital and reserves

Called up share capital                                                                6,060         6,060
Share premium                                                                          5,194         5,194
Profit and loss reserve                                                              (6,851)       (9,185)
                                                                                       4,403         2,069
Equity shareholders' funds

Minority interests                                                                     2,021             -
Total shareholders' funds                                                              6,424         2,069


C.    CONSOLIDATED CASH FLOW STATEMENTS

The consolidated cash flow statements of the Newmark Group for each of the two
years ended 30 April 2002 are set out below:


                                                                                              2002         2001
                                                                                              £000         £000

Net cash (outflow)/inflow from operating activities                                          (469)          236
                                                                                             
Returns on investments and servicing of finance
Interest paid                                                                                 (55)        (206)

Net cash outflow from returns on investments and servicing of finance                         (55)        (206)
                                                                                              
Taxation                                                                                     (145)        (517)
Capital expenditure and financial investment
Purchase of tangible fixed assets                                                            (200)        (402)

Net cash outflow from capital expenditure and financial investment                           (200)        (402)
                                                                                             
Acquisitions and disposals
Proceeds on sale of subsidiary undertaking and business and trading
assets                                                                                       5,525            -
                                                                                             
Net overdraft disposed of with business                                                         61            -

Net cash inflow/(outflow) from disposals/(acquisitions)                                      5,586            -
                                                                                             
Net cash inflow/(outflow) before financing                                                   4,717        (889)
Financing
Proceeds from flotation of Vema                                                              2,880            -
Costs relating to flotation of subsidiary                                                    (705)            -
Loan to finance acquisition of property                                                          -          251
Repayment of loans                                                                         (1,029)        (246)
                                                                                             1,146            5
Issue of shares                                                                                  -          715
Expenses paid in connection with share issues                                                    -         (22)
Net cash inflow from financing                                                               1,146          698
Increase/(decrease) in cash                                                                  5,863        (191)


Notes:

1. The financial information contained in this report does not constitute full
statutory accounts within the meaning of Section 240 of the Companies Act 1985.
The comparative figures for the year ended 30 April 2001 are extracted from the
full financial statements for the year which have been filed with the Registrar
of Companies; the auditors issued an unqualified report thereon.

Copies of the 2002 Report and Accounts are being sent to shareholders in due
course.  Further copies will be available from the registered office of Newmark
Technology Group PLC, Suite 3, 23 Bruton Street, London W1X 7DA.

2. The 2002 financial statements have been prepared in accordance with the
accounting policies applied in previous years.

3. The calculation of loss per ordinary share is based on a loss for the year after
tax of £959,000 (2001: loss £904,500) and the weighted average number of shares
in issue during the year of 121,208,952 (2001: 116,625,619).


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