1. Interim results Six months ended 31st October 2004 15th December 2004

2. Highlights Acquisitions Cabouchon I Want One of Those.com
Television shopping channel
broadcast on Sky 659
re-branding eeZee tv
50% subsidiary being consolidated
European launch
1,500 distributors
retailing well received
Continuing growth in average sales per retailer at Kleeneze UK

3. Financial highlights
Turnover from existing operations up 4.9% to £79.3m (2003: £75.6m)
Operating profit from existing operations up 3.6% to £2.9m (2003: £2.8m)
Profit before tax £4.3m (2003: loss £9.2m)
Normalised basic EPS increased 7.7% to 4.2p (2003: 3.9p)
Interim dividend up 7% to 1.07p (2003: 1.00p)
Cash at bank up £6.4m to £17.5m (2003: £11.1m)

4. Group Profit & Loss Account

5. Kleeneze Europe – Profit & Loss
Increase in ASR offsets reduction in distributors
Kleeneze Netherlands launched in September
Efficiencies from new distribution centre in Bristol

6. Distributor Numbers Kleeneze Europe

7. Farepak – Profit & Loss Voucher sales increasing to 86% in full year
Improvement in production costs will be recognised in second half

8. Non operating exceptional items
£0.9m profit generated from sale of 5% shareholding in Premier for £1.2m in July 2004

9. Balance Sheet at 31st October 2004
Fixed assets increased due to goodwill arising on acquisitions
Long term liabilities include loan notes issued as consideration on the acquisition of I Want One of Those.com

10. Net debt at 31st October 2004

11. Cash flow

12. Cash flow – continuing operations

13. Outlook Integration of acquisitions Further European expansion
Continue to transform Kleeneze into leading home shopping specialist
Full year results in line with expectations