Final Results

Oxford Catalysts Group PLC
31 March 2008

31st March 2008



                            OXFORD CATALYSTS GROUP PLC
              ('Oxford Catalysts' or 'the Company' or 'the Group')

            Preliminary Results for the Year Ended 31 December 2007

Oxford Catalysts Group PLC, the leading catalyst innovator for clean fuels,
announces today its preliminary results for the year ended 31 December 2007.

Highlights
     
•    Development revenues of £163,000, 156% ahead of 2006 - split across Europe, 
     the USA and Asia
•    First license deal signed with Novus Energy for second generation 
     waste-to-fuels
     •    Potential to deliver royalty income of $750,000 p.a. per average
          full-scale plant
     •    Novus Energy plans to roll out dozens of full-scale facilities over a
          period of 5 years
•    Memorandum of understanding with FMCG giant to commercialise Instant Steam 
     technology
•    Dedicated business development function in place - appointment of two 
     senior executives
•    Proventec steam cleaning prototype development successfully concluded
•    Completed second and third of five milestones in Carbon Trust grant funded 
     project on or ahead of technical targets
•    Pilot plant testing of catalysts expected in 2008
•    In response to ongoing growth and development needs: appointment of 
     full-time Group CFO; doubling of office and laboratory space and investment 
     in additional state-of-the art equipment
•    £15.6 million in cash and short term deposits at year end, including £4.0 
     million raised from major institutional investor, Pioneer Investments

Dr Pierre Jungels, CBE, Chairman of Oxford Catalysts, said:

'Oxford Catalysts is in better shape than ever. We've assembled a world-class
team and have made huge strides in commercialising our technology. The breadth
and depth of engagement with partners and potential customers achieved in 2007
is very encouraging.

'We are where we hoped we would be at this stage of our development, yet with a
stronger balance sheet, which is proving to be a particularly valuable asset in
the current market environment. We foresee significant progress ahead and
multiple opportunities to create value for our shareholders.'

For further information, please contact:

Roy Lipski, CEO, Oxford Catalysts                                            01235 841 700
Jonathan Marren / Oliver Stratton, KBC Peel Hunt (Nomad and Broker)          020 7418 8990
Billy Clegg / Alex Beagley, Financial Dynamics                               020 7831 3113


Notes to Editors

Oxford Catalysts designs and develops specialty catalysts for the generation of
clean fuels from both conventional fossil fuels and certain renewable sources.
The Company has two key platform technologies resulting from almost 20 years of
research at the University of Oxford's prestigious Wolfson Catalysis Centre. The
first platform is for a novel class of catalysts incorporating metal carbides,
which can match or exceed the benefits of traditional precious metal catalysts,
at a lower cost, for several key processes used in the petroleum and
petrochemical industries. The second relates to a series of unique chemical
reactions which can be used to generate either steam or hydrogen gas,
instantaneously, starting from room temperature, using a cheap and liquid fuel
alongside the Company's patented catalysts. Such unprecedented Instant Steam has
exciting potential applications in a broad range of markets, from cleaning and
disinfecting, to backup power and propulsion.

Oxford Catalysts Group PLC is listed on London's AIM market (coding symbol OCG).
Oxford Catalysts operates a wholly owned subsidiary in the UK (Oxford Catalysts
Limited ('OCL')).

CHAIRMAN'S STATEMENT
Dr Pierre Jungels, CBE

This is my second full year report to shareholders as Chairman of Oxford
Catalysts Group PLC, and I am pleased to report on significant progress.

Oxford Catalysts is commercialising cutting-edge technology that has the
potential to reduce the cost of catalysts used in, and enhance the performance
of, key processes in both the conventional and alternative energy markets, as
well as provide a unique means of producing portable steam instantly.

The advances that the Company has made during the period are very encouraging,
as is management's continued success in delivering against strategy. As we
approach the second anniversary of our IPO, Oxford Catalysts is looking less and
less like a university start-up, and more and more like an established
commercial organisation.

The Company has instilled efficient business processes, procedures and
disciplines, which together with the first-rate team we have assembled, leave
Oxford Catalysts well placed to keep company with some of the world's top
businesses.

I believe that we have solid foundations from which to manage our rapid growth.

During the period, the Board was strengthened with the appointment of Jeremy
Scudamore as a Non-executive Director. Jeremy led the £1.3 billion buyout of
Zeneca Specialities from AstraZeneca in what was, at the time, the largest ever
buyout in Europe. Jeremy currently enjoys a number of other public company
Non-executive Directorships in the technology industry, including ARM Holdings
PLC - regarded by many as a textbook example of a successful IP licensing
business.

July saw us welcome Pioneer Investments to the share register, along with the
placing of 3,225,807 new shares which raised £4.0 million net of expenses for
the Company. Pioneer Investments, which has assets under management of over €200
billion, is the fund management arm of the UniCredit Group, one of the largest
banking and financial services organisations in Europe.

The continued achievements of the business are largely down to the people we
have. The Board is grateful to the whole of the Oxford Catalysts team for their
dedication and for their hard, as well as smart work during the year.

Outlook

We are confident that 2007's strong performance will continue. Oxford Catalysts
is well positioned to capitalise on its achievements in the development and
commercialisation of its technology, whilst continuing to focus on the
protection and enhancement of its IP. This is an exciting period for Oxford
Catalysts.

We are forging good relationships with global players in our key markets. Our
cutting-edge technologies continue to attract the attention and advances of our
peers. We are enthusiastic about the coming year, and anticipate continued
growth and development building on our solid foundations.


CHIEF EXECUTIVE'S REPORT
Roy Lipski

I am happy to report on the major operational and strategic advances made by the
Group during 2007. We have a highly motivated, world-class team that has
extended the breadth of engagement we have with potential customers the world
over.

Commercialisation

The Group's commercialisation program is gaining traction, with the pace of
progress continuing to accelerate.

We have signed our first license deal through a strategic alliance with Novus
Energy LLC to develop and deploy technology for the production of
second-generation fuel-grade alcohols from organic waste materials. This has the
potential to deliver royalty income of $750,000 p.a. per average full-scale
plant; Novus Energy has announced plans to roll out dozens of on-site facilities
in the US over a period of 5 years, and a similar number in Europe. We are
working well with our new partner; the pilot plant for demonstrating the
technology is targeted to be operational in the first half of the year, with the
first commercial unit expected in 2009/10.

To date, Oxford Catalysts has secured 80 non-disclosure and / or material
transfer agreements - double the number at the same time last year (40).
Furthermore, we signed our first three letters of intent / memoranda of
understanding (MoU), including an MoU for the commercialisation of our Instant
Steam technology with a global Fast Moving Consumer Goods (FMCG) giant. This
agreement has the potential to propel the Group's catalyst innovations to a
multitude of consumers worldwide.

We have continued our engagement with oil Majors for the potential deployment of
our catalysts in large scale Fischer-Tropsch (FT) applications; encouragingly,
those companies that have tested our catalyst have continued to come back for
further samples. In addition, testing of our most recently developed
hydro-desulphurisation (HDS) catalyst is timetabled for 2008 with large oil
companies and refiners in Europe, the US, Asia and the Middle East.

Oxford Catalysts is successfully supplementing its activities with oil Majors by
engaging with specialists in the area of small scale FT. On a small scale, the
economics of gas-to-liquid conversion are more challenging, and hence the role
of highly active and cost-effective catalysts - a defining strength of the
Group's catalysts - is becoming central to the commercial viability of the
process. A key attraction of these opportunities is that they offer the
potential to generate revenues for the Group sooner than large scale 
applications of FT, whilst at the same time validating our credentials on a
commercial platform. We are seeing particularly strong interest in this area and
are expecting to progress to long duration, as well as pilot scale testing with
several parties in 2008. As pilot unit testing is the penultimate stage before
commercial demonstration, this is an encouraging development for our
shareholders.

During 2007, we successfully completed the Instant Steam prototype development
for Proventec, and are currently exploring licensing opportunities for the
technology developed. Other potential partners have expressed real interest in
our steam technology for uses such as cleaning and disinfecting, power
generation and propulsion.

The Oxford Catalysts brand is increasingly recognised in its markets. Our
innovations have received high profile media attention during the period,
including coverage on BBC News and feature articles in Petroleum Technology
Quarterly, Chemical & Engineering News, Chemistry & Industry, Eureka magazine,
The Chemical Engineer and Chemistry Today.


Technical Development

Considerable progress has been made in FT catalyst development, including the
demonstration of highly active and cost-effective catalysts, particularly for
small scale FT applications such as biomass-to-liquid and gas-to-liquid for
associated / flare gas monetisation. Through our work with external partners,
under outsourcing agreements, we have demonstrated the manufacture of the FT
catalyst in half kilogram batches, and have now moved on to the multi-kilogram
scale.

The Group has made good progress in developing its suite of HDS catalysts. We
are now able to show high levels of desulphurisation capability in the
laboratory, even with the most difficult diesel feedstock blends, whilst
requiring lower metal loadings and less of the most expensive metal component
commonly used.

We have also successfully completed the second and third of five milestones in
the Carbon Trust grant funded project to develop catalysts for reforming natural
gas and LPG, for combined heat and power fuel cell applications. Our technical
targets were consistently met or exceeded, and we remain on track to complete
the project on time.

The first half of 2008 is expected to see the testing of our technology in the
Novus Energy pilot plant, following earlier completion of the catalyst selection
stage and the provision of front-end process engineering design.

During the period, our trigger steam prototype was created - a cheap, simple and
portable device with exciting avenues of potential. For example, the steam that
it generates could be used to deliver and enhance the performance of other
active agents, such as detergents. The advances that Oxford Catalysts has made
were accelerated by our work with an FMCG giant, and have resulted in the
development of other embodiments of the Instant Steam technology for different
applications.

There has also been solid progress made in the critical area of safety for our
portable steam technology. This includes the completion of a comprehensive
hazard identification process using external consultants, and the successful
conclusion of thermal stability and flammability tests of our fuel mixture.
These are essential to meet the relevant regulations; further work is underway
towards obtaining full regulatory approval.

During the fourth quarter of 2007, we announced the purchase of two new Amtec
Spider16 high-throughput screening reactor systems for HDS and FT, at a cost of
€750,000. Each Spider system enables the simultaneous testing of 16 catalysts.
Since the development of catalysts requires a large number of test runs, the
Spider systems will dramatically reduce the time required for the final
optimisation of our catalysts. Such high-throughput resources are still scarce
in our industry; their possession will help Oxford Catalysts cement its position
within the clean fuels market.

The Group continues to benefit from its links with the University of Oxford,
gaining access to cutting-edge analytical and characterisation equipment; this
type of equipment is rare and often unavailable to companies of our size.

Finally, I am glad to report that our technical leadership is increasingly being
acknowledged within the international chemical industry, as evidenced by our
success in recent awards; the Company was a winner in the Kirkpatrick Chemical
Engineering Achievement Awards in 2007, a finalist in the innovation category of
the annual Chemical Industry Association awards (alongside the world's two
largest chemical companies), as well as being finalists in innovation awards
from both the American Institute of Chemical Engineers and ICIS Chemical
Business magazine.


Intellectual Property

Oxford Catalysts has continued its sustained progress in protecting and
enhancing its intellectual property with three new patents filed during the
period; in the areas of Instant Steam and FT.

Our first carbide-based catalyst patent has been granted in the USA, and allowed
in Australia (previously granted in Europe); whilst our second key carbide
patent was recently granted in the USA (previously granted in South Africa).

Resources

We have been successful at attracting top talent and establishing a world-class
team. This is a testament to both the potential and credibility of our
technology, and to the attractiveness of our business model. Along with the
state-of-the-art resources and facilities that we have assembled, Oxford
Catalysts is now better positioned than ever to compete as the catalyst
innovator for clean fuels.

In 2007, we created a dedicated business development function and recruited a
first-rate team from major industry players.

David Wardle joined Oxford Catalysts in April to head business development
primarily for our Instant Steam technology. During his previous eighteen years
working for the BOC Group, Dave was responsible for developing a wide range of
technology-based businesses; his most recent role was as Corporate Business
Development Manager, which positioned him as a key member of a select
entrepreneurial team charged with initiating step-change revenue growth for the
BOC Group.

Derek Atkinson, who joined us in July, is in charge of developing the business
for our technology solutions in both the conventional and alternative energy
markets. Previously, Derek worked for seventeen years at Grace Davison, a
leading supplier of catalysts, where he enjoyed global roles in both sales and
marketing. He was responsible for strategy for the product development, market
introduction and subsequent sales of adsorbents, catalysts and catalyst carriers
used in a variety of petrochemical applications. Derek was also the key driver,
within Grace Davison, of the initiation and early development work on silica and
alumina based supports for Fischer-Tropsch.

As a result of continued growth and development, Oxford Catalysts transitioned
from a part time FD to a full time CFO during the period. Susan Robertson became
Chief Financial Officer in October following seventeen years at The BOC Group.
From its inception in 2003 until 2006, Susan was Vice President and CFO of Japan
Air Gases (JAG), then a £700 million turnover joint venture owned by The BOC
Group and Air Liquide. Following her successful integration of the two founding
JV companies, Susan presided over a significant rise in shareholder return
achieved through improved profitability, increased dividends and the
restructuring of equity capital to debt financing.

Momentum within the team is strong; other appointments include a senior
technical manager with thirty years' scale-up experience gained in two of the
world's foremost catalyst companies. He is just one example of the high calibre
technical resources we are continuing to attract into the business.

Following the official opening of our laboratory in March 2007, we have
subsequently extended the lease to double the floor space of the laboratory and
office areas, which enabled us to continue to add equipment for the performance
testing and characterisation of catalysts, as well as the two high-throughput
screening reactors for HDS and FT.

People in our industry are genuinely excited by the technologies that we have
and the business which we are building. The major progress in staffing and
resourcing achieved during the year has allowed us to keep up with the high
level of interest we are seeing in our technologies, and to meet visible
requirements we have for the future.

Financial Review

This is the Group's first set of full financial statements under International
Financial Reporting Standards (IFRS). The conversion to IFRS has had no impact
on previously reported shareholder equity.

Revenues in the full year to 31 December 2007 increased by 156% to £163,000
(2006: £64,000), derived from development work with partners in Europe, the USA
and Asia, as well as grant revenue from the Carbon Trust.

The loss for the financial year of £1,744,000 (2006: £972,000) reflects Oxford
Catalysts' accelerated growth over the past year, in line with the Company's
stated strategy.

In accordance with accounting standards, the Group is required to recognise a
fair value charge for employee share options (IFRS2). This charge, however, has
no effect on the Group's net assets or cash as at 31 December 2007. The total
employee share options charge to the income statement for the period is £199,000
(31 December 2006: £558,000).

Financial resources continue to be managed prudently. Cash reserves and short
term investments at period-end were £15.6 million. Our current spend is in line
with expectations, and is forecast to increase as the Group enters the next
stage of its development. Thereafter, costs are anticipated to stabilise as the
Company attains the level of resourcing that the Directors envisage is necessary
for its current technology licensing business model.



CONSOLIDATED INCOME STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2007


                                                                        Note                          Restated
                                                                                         2007             2006
                                                                                        £'000            £'000
Revenue                                                                                   163               64
Cost of sales                                                                           (131)             (37)
Gross profit                                                                               32               27
Development costs                                                                       (773)            (154)
Other administrative costs                                                            (1,620)            (725)
Share based payments (IFRS2)                                                            (199)            (558)
Total administrative costs                                                            (2,592)          (1,437)
Operating loss                                                                        (2,560)          (1,410)
Interest on bank deposits and similar income                                              791              438
Finance costs                                                                            (21)                -
Loss on ordinary activities before tax                                                (1,790)            (972)
Tax on ordinary activities                                                                 46                -
Loss for the financial year                                                           (1,744)            (972)
Loss per share
Basic and diluted (pence)                                                  2           (4.49)           (2.82)

There are no recognised gains or losses in either period other than the losses
shown above.

All amounts relate to continuing operations. There is no difference between the
loss reported under UK GAAP and the loss reported under IFRS.

2006 figures for cost of sales and administrative expenses have been
reclassified to provide consistency with 2007 presentation. In the 2006
financial statements the items now shown as Cost of sales, Development costs and
Other administrative costs were all classified under the single heading of
Administrative expenses - operational. Costs of sales consist of the direct
costs attributable to the revenue earned.



CONSOLIDATED BALANCE SHEET
AT 31 DECEMBER 2007


                                                                       Note             2007             2006
                                                                                       £'000            £'000
Non-current assets
Intangible assets                                                                        205              180
Property, plant and equipment                                                            860              525
                                                                                       1,065              705
Current assets
Debtors                                                                                  444              256
Short term investments - cash held on deposit                                          7,000            7,000
Cash and cash equivalents                                                              8,630            6,528
                                                                                      16,074           13,784
Total assets                                                                          17,139           14,489
Current liabilities                                                                    (484)            (310)
Non-current liabilities                                                                (122)            (101)
Total liabilities                                                                      (606)            (411)
Net assets                                                                            16,533           14,078
Equity
Called up share capital                                                                  405              373
Share premium account                                                                 17,865           13,897
Merger reserve                                                                           369              369
Retained earnings                                                                    (2,106)            (561)
Total equity                                                              4           16,533           14,078



CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2007


                                                                       Note             2007             2006
                                                                                       £'000            £'000
Loss for the financial year                                                          (1,744)            (972)
Share based payments (IFRS2)                                                             199              558
New shares issued net of expenses                                                      4,000           14,014
Change in shareholders equity for the year                                             2,455           13,600
Shareholders equity at start of year                                                  14,078              478
Shareholders equity at the end of the year                                4           16,533           14,078

There is no difference between the equity reported under UK GAAP and equity
reported under IFRS.



CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2007


                                                                       Note             2007             2006
                                                                                       £'000            £'000
Net cash outflow from operating activities                                3          (2,048)            (739)
Investing activities
Interest received                                                                        666              354
Purchase of intangible fixed assets                                                     (31)             (31)
Purchase of property, plant and equipment                                              (485)            (555)
Investments/(cash placed on deposit)                                                       -          (7,000)
Net cash from/(used in) investing activities                                             150          (7,232)
Financing activities
Proceeds of issue of shares                                                            4,000           14,014
Net cash from financing activities                                                     4,000           14,014
Increase in cash and cash equivalents                                                  2,102            6,043
Cash and cash equivalents at beginning of year                                         6,528              485
Cash and cash equivalents at end of year                                               8,630            6,528



NOTES TO THE PRELIMINARY RESULTS
FOR THE YEAR ENDED 31 DECEMBER 2007


1.    PRINCIPAL ACCOUNTING POLICIES

Basis of Preparation

The financial information set out above does not constitute the Company's
statutory accounts for the years ended 31 December 2007 or 2006, but is derived
from those accounts. Statutory accounts for 2007 will be delivered to the
Registrar of Companies following the Company's annual general meeting. The
Auditors have reported on these financial statements - their reports are
unqualified and did not contain a statement under S237 (2) or (3) of the
Companies Act 1985.

While the financial information included in this preliminary announcement has
been prepared in accordance with the recognition and measurement criteria of
International Financial Reporting Standards (IFRS), this announcement does not
itself contain sufficient information to comply with IFRS. The accounting
policies adopted are consistent with those of the previous financial periods
except for the fact that the Company and the Group previously prepared their
financial statements in accordance with UK Generally Accepted Accounting
Practice (UK GAAP). For the full set of financial statements to 31 December
2007, the Group has adopted International Financial Reporting Standards (IFRS)
as adopted for use in the EU. There are no standards or interpretations which
have not been applied which would have a material effect on the results or
financial position of the Group. Under International Accounting Standard 7, Cash
Flow Statement, the definition of cash is extended to 'cash and cash
equivalents' which includes short-term deposits. The presentation of the cash
flow statement and balance sheet has therefore changed to include these cash
equivalents. Other than this there is no impact as a result of the transition to
IFRS.

Basis of Accounting

The financial statements have been prepared on the historical cost basis and are
presented in UK Sterling ('£') which is the functional currency of the Group.



2.    LOSS PER SHARE

                                                                                     2007               2006
                                                                                    £'000              £'000
Basic and diluted loss per share has been calculated on the loss of               (1,744)              (972)
The weighted average number of shares in issue was                             38,808,262         34,412,521

In accordance with International Accounting Standard 33, share options have not
been included in the number of shares used for the purpose of calculating
diluted loss per share since these would be anti-dilutive for the period
presented. Other than share options, there are no other potentially dilutive
instruments.

3.    RECONCILIATION OF OPERATING LOSS TO OPERATING CASH FLOWS

                                                                                    2007                2006
                                                                                   £'000               £'000
Operating loss                                                                   (2,560)             (1,410)
Depreciation and amortisation                                                        155                  33
Increase in debtors                                                                 (15)               (120)
Increase in creditors                                                                173                 200
Share based payments (IFRS2)                                                         199                 558
Net cash outflow from operating activities                                       (2,048)               (739)

4.    CHANGES IN SHARE CAPITAL AND RESERVES

                                            Called up
                                                share        Share      Merger      Retained
                                              capital      premium     reserve      earnings       Total
                                                £'000        £'000       £'000         £'000       £'000
At 31 December 2006                               373       13,897         369         (561)      14,078
Share issues (cash)                                32        3,968           -             -       4,000
Loss for the financial year                         -            -           -       (1,744)     (1,744)
Share based payments (IFRS2)                        -            -           -           199         199
At 31 December 2007                               405       17,865         369       (2,106)      16,533

5.    STATUTORY INFORMATION

Copies of the 2007 Annual Report will be posted to shareholders in April 2008,
and may be obtained from the date of posting for one month free of charge from
the registered office of the Company, 115e Milton Park, Oxford, OX14 4RZ, as
well as from the Company's web site www.oxfordcatalysts.com.

6.    ANNUAL GENERAL MEETING

The annual general meeting is to be held on 14th May 2008. Notice of the AGM
will be dispatched to shareholders with the Group's report and accounts.




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