Final Results

Premier Management Holdings PLC
27 July 2004

For release at 07.00 on 27 July 2004

PREMIER MANAGEMENT HOLDINGS PLC

Statement of results for the period ended 31 January 2004

Key points

•         £5.5m Bond restructured into £2.5m interest-free loan repayable over
14 years, placing the Group on a more secure financial footing for future
growth.

•         Turnover £1.2m for 9 months (2003: £2.1m for 12 months).

•         Pre-exceptional, pre-amortisation operating profit of £157,000 for 9
months (2003: £510,000 loss for 12 months).

•         Licensed agents include 5 in UK, 2 in Turkey and 1 in Hungary.
Other new co-operation agreements allow the Group to gain exposure to markets in
France, Greece, Denmark, Croatia, Sweden and North America with negligible cost.

•         Outcome for the current year remains uncertain, although trading so
far in the summer window has been promising.  Steady trading experienced outside
of the windows in Nationwide League player deals and in manager deals.


Chairman Barry Gold said today,

'Our objective of stabilising the business has been achieved.  We have
associations in most of the major territories, and are representing an
increasing number of managers and clubs.  We are better positioned to grow, with
minimal extra cost, our two additional target areas of acting for clubs and for
managers.  Going forward there is no bond interest to pay, no substantial
goodwill amortisation to charge, nor significant player investment write-downs
to face.  As result the Board views the future prospects of the Group with a
higher degree of optimism than at any time over the past two years.'

Further enquiries:

Barry Gold (Premier Management) - 01227 366 992

Richard Evans (Brewin Dolphin Securities) - 0161 214 5553



Chairman's statement

The accounts your Board are reporting on cover a nine-month period ended 31
January 2004.  We have changed our year end from 30 April so as to coincide with
the close of one of the two Premiership football transfer windows.

In early 2004 we agreed terms with our bond holder, which are reflected in these
accounts, whereby the £5.5 million bond, repayable by August 2004 was converted
into a £2.5 million interest-free loan repayable over 14 years.  This debt
restructuring, when taken in conjunction with the significant overhead
reductions we have achieved over the past year, mean that your company now has a
sustainable cost-base from which we can move forward with financial stability.
As part of the restructuring process we were successful in the raising of new
share capital to further improve the Company's finances.

In the nine-month reporting period turnover was £1,242,000 (2003: £2,136,000 for
12 months) and operating profit, before exceptional items and amortisation, was
£157,000 (2003: £510,000 loss for 12 months).  These numbers show an improved
trading performance in our underlying core business in a difficult market.
Since the start of the current financial year further overhead cuts have been
made and with the write-downs described below and the restructuring of the bond
future profitability should be significantly easier to achieve.

In view of changes in the football market over the past year or so, we have
decided to write down the majority of our investments in player registrations
and in the carrying value of our subsidiary companies, neither of which have any
impact on our cash flow or future trading.  In coming to a new arrangement with
the bondholder, we have also benefited from an exceptional credit to our profit
and loss account.  The net effect of these exceptional items has been a charge
against profit in excess of £1 million.  Your Board hopes that these provisions
may well prove to be over conservative, but it will ensure that future accounts
are both easier to follow and more representative of what is actually happening
in the business, day-to-day.

We now have five licensed agents in this country, two in Turkey and one in
Hungary.  Hungary continues to perform above our expectations but Turkey,
although still cash generative, is struggling from the effects of remaining
outside the European Union, the new limitations on the number of foreign players
at clubs and a widespread lack of cash at football clubs.

Overheads in the UK have been reduced still further and the elimination of the
bond and the consequent winding up of our Jersey subsidiary will lead to more
savings.  Further opportunities to minimise costs will be taken as they arise
including establishing co-operations with other agents,  which are a low cost
way of attracting new players to the Group.  In pursuit of this strategy
agreements have been reached with agents in France Greece, Denmark, Croatia,
Sweden and North America since we last reported.  Such arrangements cost us
nothing and so offer only upside.

We are positioning ourselves as the 'manager's manager' as we already represent
several in the Premiership, the  Nationwide and abroad.  This has been a good
market for us, as has representing clubs on transfers and contract
renegotiations, where we perform a role akin to a part-time Director of
Football, on a retainer basis.

The outcome for the current year remains uncertain, although trading so far in
the summer window has been promising and we hope that there is much more
business to do whilst the window remains open.  We have experienced steady
trading outside of the windows in manager and Nationwide League player deals,
which we expect to continue ..  The player transfer/new contract market remains
competitive and volatile, and whilst we have done our share of deals our other
areas of business help to provide a broader range of income streams and which to
date have served to reduce potential debt collection problems.

The Group has faced a difficult trading environment over the past two years, but
we have come through this period and I am very grateful to our new shareholders
who supported us recently and placed us in a position to conclude the
restructuring of the bond.  My thanks also to all our team, staff and
shareholders, for pulling together when the going got tough.  The Board hope to
be able to reward this support by building a wider ranging business from what is
a more secure base.

Our objective of stabilising the business has been achieved.  We have
associations in most of the major territories, and are representing an
increasing number of managers and clubs.  We are better positioned to grow, with
minimal extra cost, our  additional  target areas of acting for clubs and for
managers.  Going forward there is no bond interest to pay, no substantial
goodwill amortisation to charge, nor significant player investment write-downs
to face.  As result the Board views the future prospects of the Group with a
higher degree of optimism than at any time over the past two years.

Barry Gold
27 July 2004


Consolidated profit and loss account
for the period ended 31 January 2004
                                                          Before                     9 months     12 months
                                                     exceptional     Exceptional        ended         ended
                                                       items and       items and   31 January      30 April
                                                    amortisation    amortisation         2004          2003
                                                                                              (as restated)
                                                           £'000           £'000         £000         £'000

Turnover                                                   1,242               -        1,242         2,136
Cost of sales                                              (458)               -        (458)       (1,100)
Gross profit before exceptional impairment                   784               -          784         1,036
Exceptional impairment of investment in                        -           (882)        (882)       (1,135)
footballers
Gross profit/(loss)                                          784           (882)         (98)          (99)
Exceptional administrative expenses                            -         (2,642)      (2,642)       (1,693)
Amortisation of intangible assets                              -           (132)        (132)         (181)
Other administrative expenses                              (627)               -        (627)       (1,546)
Operating profit/(loss)                                      157         (3,656)      (3,499)       (3,519)
Other interest receivable and similar                          -               -            -            27
income
Interest payable                                           (127)               -        (127)         (243)
Amortisation of finance costs                                  -           (248)        (248)         (198)
Exceptional write-back of loan                                 -           2,896        2,896
Profit/(loss) on ordinary activities before                   30         (1,008)        (978)       (3,933)
taxation
Taxation                                                       -               -            -           209
Profit/(loss) on ordinary activities after                    30         (1,008)        (978)       (3,724)
taxation
Dividends                                                      -               -            -             -
Retained profit/(loss) carried forward for                    30         (1,008)        (978)       (3,724)
the financial year

Earnings/(loss) per share                                  Pence           Pence        Pence         Pence
Basic and diluted (loss)/earnings per                       0.11          (3.74)       (3.63)       (14.83)
ordinary share

The profit and loss has been prepared on the basis that all operations are
continuing operations.



Statement of total recognised gains and losses
for the period ended 31 January 2004
                                                                                      9 months     12 months
                                                                                         ended         ended
                                                                                    31 January      31 April
                                                                                          2004          2003
                                                                                               (as restated)
                                                                                          £000         £'000

Loss for the period                                                                      (978)       (3,724)
Prior period adjustment                                                                    174             -
Total recognised gains and losses since last financial                                   (804)       (3,724)
statements


Consolidated balance sheets
as at 31 January 2004
                                                                                         As at         As at
                                                                                    31 January      31 April
                                                                                          2004          2003
                                                                                               (as restated)
                                                                                          £000         £'000
Fixed Assets
Intangible assets                                                                          220         3,299
Tangible assets                                                                             82           120
Investments                                                                                  -           175
                                                                                           302         3,594
Current assets

Debtors                                                                                  1,069         1,497
Current asset investments                                                                  221         1,342
Cash at bank and in hand                                                                   151           251
                                                                                         1,441         3,090
Creditors: amounts falling due within one year                                         (1,239)         (781)

Net current assets                                                                         202         2,309

Total assets less current liabilities                                                      504         5,903
Creditors: amounts falling due over one year                                           (1,986)       (6,407)

Total assets less liabilities                                                          (1,482)         (504)

Capital and reserves
Called up share capital                                                                    269           269
Share premium account                                                                    2,497         2,745
Profit and loss account                                                                (4,038)       (3,308)
Own shares held*                                                                         (210)         (210)
Equity shareholders' (deficit)/funds                                                   (1,482)         (504)

* Own shares held represents 1,000,000 ordinary shares of 1p each, held by
Premier Management Holdings plc Employee Share Ownership Plan with a nominal
value of £10,000 and a share premium of £200,000.



Consolidated cash flow statement
for the period ended 31 January 2004
                                                                                      9 months    12 months
                                                                                         ended        ended
                                                                                    31 January     30 April
                                                                                          2004         2003
                                                                                         £'000        £'000

Net cash movement from operating activities                                                134        (153)

Returns on investments and servicing of finance
Interest received                                                                            -           27
Interest paid                                                                            (127)        (243)
                                                                                         (127)        (216)

Taxation paid                                                                                -          (6)

Capital expenditure
Receipts on disposal of tangible assets                                                     20           15
Payments to acquire tangible assets                                                        (4)         (13)
Payments to acquire investments                                                              -        (175)
                                                                                             -           26
                                                                                            16        (147)
Acquisitions and disposals
Payments to acquire subsidiary undertakings                                                  -         (33)

Net cash outflow before management of liquid resources and                                  23        (555)
financing
Management of liquid resources
Short term deposits                                                                          -          936

Financing
Capital element of hire purchase contracts                                                (15)         (41)
Payment for deferred consideration                                                        (37)        (421)
Payment for negotiating settlement of convertible loan stock                              (72)            -
                                                                                         (124)        (462)

(Decrease) in cash in the period                                                         (101)         (81)



Note:

The preliminary financial statement has been prepared on the basis of the
Group's normal accounting policies but does not constitute statutory accounts.
The comparative figures for the year ended 30 April 2003 have been extracted
from statutory accounts for the year then ended.  These statutory accounts have
been delivered to the Registrar of Companies, the auditors report on which was
unqualified and did not contain a statement under section 237(2) or (3) of the
Companies Act 1985.  It is anticipated that the Group's Annual Report and
Accounts for the 9 month period ended 31 January 2004 will be published and
posted to shareholders on 30 July 2004.  Copies will be made available at the
Company's office at 11 Central House, Ongar, Essex CM5 9AA.



ENDS


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