Balance sheets at 31 March 2001

The financial statements were approved by the board of directors on
24 August 2001 and were signed on its behalf by :

John F. Kearney, Chairman

Ian Cuthbertson, Finance Director

Consolidated Profit and Loss account for the year ended 31 March 2001

The group has no recognised gains or losses other than the losses shown above and therefore no separate statement of total recognised gains and losses has been presented.

There is no difference between the loss on ordinary activities before taxation and the retained loss for the year stated above, and their historical cost equivalents.

Consolidated cash flow statement for the year ended 31 March 2001