KBC Advanced Technologies plc Interim Results Six months to 30 June 2002

IMPROVING DOWNSTREAM PROFITS 2 August 2002 Formed in 1979 as an independent consulting business Global operation=USA/UK/Holland/Singapore/Japan Serves the hydrocarbon= Over 200 clients worldwide process industry Independent consultant =No conflict with contractors, process licensors, catalyst and hardware suppliers or operating oil companies KBC - Leading consultants in the downstream oil industry

IMPROVING DOWNSTREAM PROFITS 3 August Process Consulting  Profit Improvement Program (PIP)  11 month program  Development of refinery simulation base case  Identification of profit improvement opportunities 2.Implementation Services  2 nd and 3 rd year program  Implementation of opportunities identified in PIP 3.Reliability, Availability & Maintenance (RAM)  Turnaround and shut down optimisation  Inspection and preventative maintenance best practice KBC - Service Offering

IMPROVING DOWNSTREAM PROFITS 4 August 2002 KBC - Service Offering 4.Planning and Scheduling  Management of crude and feedstock costs  Reduction of inventories and internal movements 5.Other Services  Remote monitoring and technical outsourcing  Energy conservation and clean fuel studies  Project risk assessment and analysis  Capital project design  Economic and market evaluation 6.Software  Petrofine – refinery wide simulation  Refinery reactor models

IMPROVING DOWNSTREAM PROFITS 5 August 2002 Overview – First Half 2002  Global economic slowdown gives rise to difficult trading conditions  Sales order cycle slow for first four months of the year  Signs of improvement in May and June  Successful integration of Petroleum Economics and Linnhoff March  Sale of Hyprotech by AEA to Aspen Technology Inc delays commercialisation of HYSYS.Refinery

IMPROVING DOWNSTREAM PROFITS 6 August 2002 Operational Highlights – First Half 2002  Slow start to 2002 with low utilisation  Pick up by end of period with six new PIPs started since 1 June  First PIP in Russia and second Petrochemical PIP started  Continued growth in South America with award of $15m multi–refinery, 30 month contract  Strong growth in Reliability and Maintenance services

IMPROVING DOWNSTREAM PROFITS 7 August 2002 Summarised profit and loss account £000£000 £000 Turnover20,18619,34742,000 Operating profit1,2531,8724,158 Goodwill amortisation(204)-- Other operating exceptional items(851)7,4147,414 Net Interest Profit before tax4029,60112,285 Taxation (140) (3,011)(3,972) Profit after tax 2626,5908,313 Dividends (636) (620)(2,002) Retained (loss)/profit (374)5,9706,311 Earnings per share - basic0.54p13.67p17.20p - fully diluted0.54p13.58p17.09p - basic before goodwill and expectional items 2.19p2.90p6.46p Average number of shares in issue48.5m48.2m48.3m 6 months to6 months to 12 months to 30 June June Dec 2001

IMPROVING DOWNSTREAM PROFITS 8 August 2002 Summarised group cash flow statement £000 £000 £000 Net cash from operations1,6684,592 5,435 Operating exceptional items(851) 7,414 7,414 Net interest received Tax paid(1,586)(1,000) (3,176) Capital expenditure(397)(1,851) (2,166) Dividends paid(1,361)(1,249) (1,893) New shares issued Net cash outflow from acquisitions (5,179) - ____ - Net cash generated(7,466)8,342 6,454 6 months to 6 months to 12 months to 30 June June Dec 2001

IMPROVING DOWNSTREAM PROFITS 9 August 2002 Summarised group balance sheet £000£000£000 Fixed assets11,1546,3585,937 Net current assets (excl cash)6,9942,4264,786 Cash10,74420,15818,218 Creditors due after 1 year(600)-- Provisions (719) (804) (775) Net assets27,57328,138 28,166 Share capital and reserves7,4667,4247,430 Profit and loss20,10720,714 20,736 27,57328,13828,166 At 30 June At 30 JuneAt 31 Dec

IMPROVING DOWNSTREAM PROFITS 10 August 2002 Revenues by region 58% 20% 22% 50% 21%29%

IMPROVING DOWNSTREAM PROFITS 11 August 2002 Revenues by business area £m

IMPROVING DOWNSTREAM PROFITS 12 August 2002 Order book value £17M£21M£35M£40M£28M£29M

IMPROVING DOWNSTREAM PROFITS 13 August 2002 Consultant utilisation

IMPROVING DOWNSTREAM PROFITS 14 August 2002 Acquisitions profit and loss account £000 Turnover 1,279 Operating profit298 Goodwill amortisation_(204) Operating profit after Goodwill amortisation 94 Integration costs (206) 6 months to 30 June 2002

IMPROVING DOWNSTREAM PROFITS 15 August 2002 Acquisitions - continued Petroleum Economics: (PEL) Linnhoff March: (LM) Operations relocated to KBC Walton office PEL services added to PIP proposals Core business on plan New opportunities arise in due diligence and other services to Financial Institutions Operations integrated with KBC Energy Business Line, now led from LM office in Manchester Technology and tools rationalised to pick best in class from each company Core business ahead of plan New opportunities being pursued – refining and other process industries

IMPROVING DOWNSTREAM PROFITS 16 August 2002 Software alliance  Hyprotech sold by AEA to Aspen Technology  Rights to HYSYS.Refinery remain with AEA for duration of agreement with KBC  Arbitration continues to resolve commercial difficulties  Discussions with Aspen Technology and AEA are ongoing to attempt to find resolution of all issues  Sales of HYSYS.Refinery software on hold until disagreement resolved

IMPROVING DOWNSTREAM PROFITS 17 August 2002 Longer term industry outlook  Fall in refinery margins in last 12 months and continued over- capacity leading to focus on costs and profitability  Budgetary constraints reduce discretionary expenditure for consulting services in current economic downturn  Competitive pressures of globalisation, deregulation and clean fuel specifications will continue to impact the oil industry  Short term prospects of improvement in product demand limited  No significant change in the number of large complex sites – the key market for KBC’s services

IMPROVING DOWNSTREAM PROFITS 18 August 2002 Penetration of Available PIP Market at 30 June 2002 Number of refineries

IMPROVING DOWNSTREAM PROFITS 19 August 2002 Strategy  Resolve difficulties with Software partnership with AEA and Aspen Technology  Develop a ‘World Class Refining’ product to meet the vision and the needs of our clients, typically a 5 year program  Develop and/or acquire a broad range of services to address the expanded product requirements  Seek to increase further the length of client engagements through evergreen technical support services  Reduce vulnerability of KBC revenue streams to economic cycle