UNAUDITED INTERIM RESULTS

27 November 2012

                                            Trafalgar New Homes PLC

                                     ("TNH", the "Company" or the "Group")

                                           UNAUDITED INTERIM RESULTS

Trafalgar New Homes PLC today announces its interim results for the six months ended 30 September 2012.

                                             CHAIRMAN'S STATEMENT

The  first  six  months  of  the  current year show minimal turnover and a consolidated  loss  of  £102,000  in
accordance  with the Company's projections that the principal turnover and profitability for  the  year  to  31
March 2013 will arise in the second half.

The  above does not mean that there has been no activity, however.  Following on from my comments and those  of
the  Managing  Director  in  the  Statements accompanying the Accounts  for  the  year  ended  31  March  2012,
construction  has continued on our sites in Kent at High Street, Edenbridge and Oakhurst Manor,  Hildenborough.
On  those  two  sites  we  will aim to deliver 23 residential homes being 8 x two  bed  apartments,  a  studio,
penthouse,  cottage  (and  a  shop)  at  Edenbridge and 12 three/four/five  bedroom  houses  at  Hildenborough.
Completion  of the construction of the Edenbridge site has been achieved; on the Hildenborough site, completion
of the build is anticipated for March/April 2013.

The  twelve  units at Edenbridge are now being marketed for sale, which should contribute towards  the  Group's
results  for  the year ended 31 March 2013.  With the other pending sales, I can say that we are  currently  on
target to achieve our internal projections for the current year.  I am confident we will show enhanced earnings
per share for the Group as a result.

Future  sales of the Hildenborough houses should contribute to the anticipated enhanced profitability  for  the
year end 31.03.2014.

Land  supply  remains  good, with the Group continuing to concentrate on the purchase of  sites  with  planning
permission and 'brownfield' sites where we anticipate enhancing the planning status of the site and, therefore,
its  value.  Terms have been agreed for options and conditional contracts on a number of sites, in addition  to
those sites we have agreed to purchase which already have planning permission.

We  anticipate buying land and building houses across all market sectors, from two/three bed starter homes  and
apartments  up  to five/six bedroom executive detached houses.  Most sites will be for private housing  but  we
will accommodate affordable housing when it is required, as part of the planning consent.

We  have  a  continuing  commitment  to provide quality homes at realistic prices  in  the  most  sought  after
locations.

On behalf of the Board

James Dubois
Chairman

Consolidated Unaudited Profit & Loss Account

                                        Notes         Six months to
                                                         30/09/2012
                                                             £'000s

Income                                                          696
Cost of Sales                                                 (678)
Gross Profit                                                     18
Admin expenses, excluding interest,                           (120)
tax & depreciation
Earnings before interest, tax &                               (102)
depreciation
Depreciation                                                      -
Operating Loss                                                (102)
Interest Payable                        1                         -
Loss before tax                                               (102)
Taxation                                                          -
Loss on Ordinary Activities after Tax                         (102)

Earnings/Loss per ordinary share:                                  
Basic                                   2                    (0.05)
Diluted                                 2                    (0.05)

Unaudited Balance Sheet as at 30/9/12                                 

                                        Notes                 As at         As at end of
                                        3                30/09/2012       Administration
                                                             £'000s               £'000s

Fixed Assets                                                      1                    -
Property Stock                                                6,995                    -
                                                              6,996                    -

Current Assets:                                                                         
Debtors                                                          84                    -
Cash at bank and in hand                                        203                    -
                                                                287                    -
Creditors: falling due within one                           (4,113)                 (54)
year
Net Current Assets                                          (3,826)                 (54)

Creditors: falling due after more                           (4,650)                    -
than one year

Net Assets                                                  (1,480)                 (54)

Called up share capital                                       2,144                  208
Share Premium                                                   961                  594
Reverse Acquisition Reserve                                 (2,817)                    -
Profit & Loss Account                                       (1,768)                (856)
                                                            (1,480)                 (54)

Notes to the above financial information

Note 1: Interest is site-specific and has been charged to work-in-progress.

Note 2: The Company has 214,375,190 ordinary shares in issue.

Note 3: On 12 July 2010, TNH announced that it had filed a notice to appoint Administrators at Court.    On  13
September 2011 the Company announced that the company was no longer in administration. The comparative  balance
sheet  figures shown for "As at end of Administration" represent the state of Company's affairs as at  the  day
after the Company came out of administration.

Note 4:   No  interim dividend is to be paid in relation to the six months ended 30 September 2012. No  interim
dividend was paid in relation to the six months ended 30 September 2011.

Note 5: The information in this announcement has not been reviewed by the Company's auditor.

For reference, the Company has reproduced below, without modification, the unaudited pro forma statement of net
assets which was contained in the Company's admission document dated 8 November 2011.

                                  UNAUDITED PRO FORMA STATEMENT OF NET ASSETS

                                              Pro forma statement

The following unaudited pro forma statement of net assets of the Enlarged Group following the completion of the
Acquisition  has been prepared for illustrative purposes only to provide information about the  impact  of  the
Acquisition and, because of its nature, may not give a true reflection of the financial position of the  Group.
It  has been prepared on the basis that the Acquisition occurred on 9 November 2011 and on the basis set out in
the notes.

                         Notes               The                        Adjustments     The Enlarged
                                           Company       Combe Bank      (note iv)          Group
                                            £'000           £'000          £'000            £'000
FIXED ASSETS                                                                                    
Tangible assets                               -               2               -                2

CURRENT ASSETS                                                                                  
Stocks                                        -           7,055               -            7,055
Debtors                                       -              57               -               57
Deposits and cash                                           386               -              386
VAT                                                           -               -                -
TOTAL ASSETS                                  -           7,500               -            7,500

CURRENT LIABILITIES                                                                             
Creditors: amounts       
falling due within one
year                     i                   27              21               -               48
Taxation                                      -               5               -                5
Wages                                         -               -               -                -
                                             27              26               -               53

TOTAL ASSETS LESS                          
CURRENT LIABILITIES                        (27)           7,474               -            7,447

LONG TERM LIABILITIES                                                                           
Creditors: amounts       
falling due after more
than one year            i                   27           8,918               -            8,945

NET LIABILITIES                              54           1,444               -            1,498

Notes to the pro forma information

(i)   The creditors of the Company represent a bank loan repayable in 24 equal monthly instalments.

(ii)  The  net assets of the Company have been extracted from Part 4 of this Document and adjusted  for  the
      negotiated split of the bank loan per note (i) above.

(iii) The  net  assets  of  Combe Bank have been extracted without adjustment from  the  six  month  interim
      accounts to 31 May 2011 included in Part 5 of this Document. No account has been taken of the activities of
      Combe Bank since 31 May 2011.

(iv)  The  adjustment assumes Trafalgar New Homes Ltd acquires all of the £100,000 of ordinary share capital
      of Combe Bank Homes Ltd by issuing 186,817,671 Ordinary 1p shares at a price of 1.2p. Using the Balance Sheets
      above, such a transaction would give rise to goodwill on consolidation of circa £3.69m for the enlarged group.
      This  goodwill  would be subject to an impairment review, and due to the insolvent balance  sheets  of  both
      companies, would most likely be written off in its entirety. Hence, there would be no impact on the net assets
      of the company as shown above.

THE DIRECTORS OF THE COMPANY ACCEPT RESPONSIBILTY FOR THE CONTENTS OF THIS ANNOUNCEMENT

                                                  ---ENDS---
Enquiries:

Trafalgar New Homes Plc
Christopher Johnson
[phone]

ISDX Corporate Adviser
Peter Ward/Alex Brearley
[phone]

Trafalgar New Homes Plc