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Interim Results

Friday 28th May 2010 at 13:51 GMT

ALPHA PROSPECTS PLC
("Alpha" or the "Company")

Interim Results and Notice of Correction

The Directors of the Company announce the interim results and Chairman's Report for the period ended February 28 2010.

Due to the extension of the year end as reported on 29 January 2010 the Company reports its interims for the six month period ended 28 February 2010 showing comparisons to its 12 months ended 31 May 2009 as reported on 25 September 2009 and against its Final Results for the 15 month period ended 31 August 2009 as reported on 29 January 2010.

Further to this the Company would like to issue a correction it is noted that the previously announced figures for Earnings Per Share for 31 May 2009 and 31 August 2009 were inadvertently stated as -0.14p and -0.06p respectively instead of -0.41p and -0.18p respectively as reported above.

The directors of the issuer accept responsibility for this announcement.

Chairman's Report

I am pleased to present the unaudited financial results for Alpha Prospects Plc for the 6 month period ending 28 February 2010.

The loss for the 6 month period is GBP35,027 (15 months to 2009 - GBP164,272).

In my statement on the 29 January I announced that the Board had entered into a strategic review of operations with a view to extending the Company's investment remit. The Board is continuing to look for other business opportunities that would benefit Alpha including using the Company as a reverse acquisition vehicle to allow a larger Company to obtain a listing on PLUS markets.

The Company has been in preliminary reviews of several interesting opportunities in the last few months and will keep the market and shareholders updated if and when a suitable transaction can be agreed.

On behalf of the Board I would like to take this opportunity of thanking the Company's professional advisors for their support and assistance throughout the year.

Steven Freudmann
Chairman
27 May 2010

PROFIT AND LOSS ACCOUNT
FOR THE PERIOD ENDED 28 FEBRUARY 2010

  Interims 6 months ended 28-Feb 2010 Second Interims 12 months ended 31-May 2009 Final 15 months ended 31-Aug 2009
 
GBP
GBP
GBP
TURNOVER
-200
65,000
57,200
Administrative expenses
-34,830
-448,295
-480,806
OPERATING LOSS
-35,030
-383,295
-423,606
Profit on disposal of investments
-
-
254,668
Interest receivable
3
4,663
4,666
LOSS ON ORDINARY ACTIVITIES BEFORE TAXATION
-35,027
-378,632
-164,272
Tax on loss on ordinary activities
-
-
-
LOSS FOR THE FINANCIAL PERIOD
-35,027
-378,632
-164,272
EARNINGS PER SHARE
Basic EPS (pence)
-0.04
-0.41
-0.18
Diluted EPS (pence)
-0.04
-0.41
-0.18


All amounts relate to continuing operations.

There were no recognised gains and losses for 2010 or 2009 other than those included in the profit and loss account

BALANCE SHEET
AS AT 28 FEBRUARY 2010

  28-Feb 2010 31-May 2009 31-Aug 2009
  GBP GBP GBP GBP GBP GBP
FIXED ASSETS            
Tangible fixed assets   1,234   1,142   1,234
Fixed Asset investments   154,688   10   154,688
    155,922   1,152   155,922
CURRENT ASSETS            
Debtors: amounts falling due after more than one year 312,200   251,200   312,200  
Debtors: amounts falling due within one year 27,379   12,317   24,506  
Cash at bank 52,121   120,220   122,552  
  391,700   383,737   459,258  
CREDITORS: amounts falling due within one year -2,950   -19,550   -35,481  
NET CURRENT ASSETS   388,750   364,187   423,777
TOTAL ASSETS LESS CURRENT LIABILITIES   544,672   365,339   579,699
CAPITAL AND RESERVES            
Called up share capital   472,334   472,334   472,334
Share premium account   451,577   451,577   451,577
Profit and loss account   -379,239   -558,572   -344,212
SHAREHOLDERS' FUNDS   544,672   365,339   579.699


Notes:

1. The information has not been reviewed by the Company's Auditors.

2. The financial information contained in this statement does not constitute statutory accounts as defined in section 434 of the Companies Act 2006. The statement, which is unaudited, has been prepared under the historical cost convention.

Enquiries:

ALPHA PROSPECTS PLC Christopher Foster +44 207 491 9533
RIVINGTON STREET CORPORATE FINANCE Leo Godsall +44 793 045 0156