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Weatherly Int. (WTI)

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Friday 23 January, 2004

Weatherly Int.

Interim Results

Weatherly International PLC
23 January 2004


                                  Announcement

                          Weatherly International PLC

The following comprises the Weatherly International PlC interim results for the
six months period ended 30 June 2003. Along with the Year End Accounts to 31
December 2002, these will be posted to Shareholders on Monday 26th January and
further hard copies will be available c/o Merchant Capital PLC at Aldermary
House, 10-15 Queen Street, London, EC4N 1TX.




                          WEATHERLY INTERNATIONAL PLC

                                INTERIM RESULTS

                  FOR THE SIX MONTHS PERIOD ENDED 30 JUNE 2003





                              CHAIRMAN'S STATEMENT



The interim results for the Company cover a period throughout which the Company
had no trading activity, its operating subsidiary - Weatherly Securities
Corporation - having ceased trading in August 2002.



The events occurring since the Company's last interim statement are fully
covered by my Statement and the Directors' report published with the audited
accounts for the year to 31 December 2002, also announced today. The publication
of those accounts and the announcement of these interim figures are necessary
conditions for the lifting of the suspension of the Company's shares from
trading on AiM. As also stated elsewhere, the Company has raised £250,000 by way
of a placing conditional upon the admission of the new shares to trading on AiM
in the near future.



                                                                   Jack Najarian

                                                                        Chairman

                                                                 23 January 2004




                          WEATHERLY INTERNATIONAL PLC

                            PROFIT AND LOSS ACCOUNT

                  FOR THE SIX MONTH PERIOD ENDED 30 june 2003




                                                                                 6 months           12 months
                                                                             30 June 2003         31 Dec 2002
                                                            Notes                       £                   £


Administrative expenses                                                          (13,961)            (92,392)
                                                                                _________           _________
Operating (loss)                                                                 (13,961)            (92,392)
Exceptional item                                                1                (14,979)         (1,490,148)

                                                                                _________           _________
(Loss) on ordinary activities before interest                                    (28,940)         (1,582,540)
Interest receivable                                                                    12               1,103
                                                                                _________           _________
Loss on ordinary activities before taxation                                      (28,928)         (1,581,437)

Taxation                                                                                -                   -
                                                                                _________           _________
Loss on ordinary activities after taxation                                       (28,928)         (1,581,437)

Deficit at beginning of six months period                                     (4,832,925)         (3,251,488)
                                                                                _________           _________
Deficit at end of six months period                                           (4,861,853)         (4,832,925)
                                                                                _________           _________
Basic loss per share                                                                    -             (0.66)c
                                                                                _________           _________





                          WEATHERLY INTERNATIONAL PLC

                        BALANCE SHEET AS AT 30 june 2003


                                                                                 6 months          12 months
                                                                             30 June 2003        31 Dec 2002
                                                          Notes                         £                  £


CURRENT ASSETS
Debtors                                                                                 -             31,951
Cash at bank and in hand                                                           34,581             31,432
                                                                                _________          _________
                                                                                   34,581             63,383
CREDITORS (Amounts falling due within one year)               2                  (82,978)           (82,852)
                                                                                _________          _________
NET CURRENT (LIABILITIES)                                                        (48,397)           (19,469)
                                                                                _________          _________
                                                                                 (48,397)           (19,469)
                                                                                _________          _________
CAPITAL AND RESERVES
Called up share capital                                       3                   240,750            240,750
Share premium account                                                           4,572,706          4,572,706
Profit and loss account - (Deficit)                                           (4,861,853)        (4,832,925)
                                                                                _________          _________
TOTAL CAPITAL EMPLOYED                                                           (48,397)           (19,469)
                                                                                _________          _________



                          WEATHERLY INTERNATIONAL PLC

                       NOTES TO THE FINANCIAL STATEMENTS

                  FOR THE SIX MONTHS PERIOD ENDED 30 june 2003



1.   Exceptional items
     
     Loss associated with liquidation of subsidiary.  Write off of inter-company 
     balance.


2.   Creditors (amounts falling due within one year)

                                                                               6 months         12 months
                                                                           30 June 2003       31 Dec 2002
                                                                                      £                 £


Trade creditors                                                                  82,978            82,852
                                                                              _________         _________




3.   Called Up Share Capital
     
                                                                               6 months         12 months
                                                                           30 June 2003       31 Dec 2002
                                                                                      £                 £
                                                                                                        
Authorised Share Capital
500,000 Ordinary Shares of  £0.1p each                                          500,000           500,000
                                                                              _________         _________
Allotted, called up and fully paid
240,750 Ordinary Shares of £0.1p each                                           240,750           240,750
                                                                              _________         _________



4.   Basis of preparation
   


The interim accounts, which are unaudited, have been prepared in accordance with
the accounting policies adopted by the company as set out in its Annual Report
and accounts for the year ended 31 December 2002.  the information for the year
ended 31 December 2002 has been abridged from the financial statements of the
company for that year, which carry an unqualified auditors report.


                      This information is provided by RNS
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