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Half-Yearly Report

Wednesday 11th May 2011 at 15:15 GMT

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

Interim Results for six months to 28 February 2011

Chairman's Report

I am pleased to present the unaudited financial results for Alpha Prospects Plc for the six month period ending 28 February 2011.

The loss for the period was GBP62,432 (2010: GBP35,027).

In December 2010, the Company announced that it had participated in a series of transactions resulting in Alpha holding an additional 65,292 ordinary shares in Hill Street Investments plc and Hill Street Investments plc investing GBP424,398 for 28,293,249 ordinary shares in Alpha. In addition, on 17 December 2010, Hill Street Investments notified Alpha that it had purchased an additional 6,912,543 ordinary shares in Alpha. Following these transactions, Hill Street Investment holds 26.12% of the issued share capital of Alpha.

Following this reporting period, the Company held its Annual General Meeting which approved the adoption of its new investment strategy which is to acquire or invest in listed and unlisted companies across a variety of sectors, including exploration and mining, digital media, publishing, electrical technology, food and wine and health and beauty. In addition Alpha will be looking to strengthen its board so as to widen its strategic focus and capabilities.

Steven Freudmann
Chairman
May 2011

PROFIT AND LOSS ACCOUNT
FOR THE PERIOD ENDED 28 FEBRUARY 2011

 
Interims
Interims
Final
 
6 months ended 28-Feb 2011
6 months ended 28-Feb 2011
12 months ended 31-Aug 2010
 
GBP
GBP
GBP
TURNOVER
-
-200
-200
Administrative expenses
-62,435
-34,830
-386,067
OPERATING LOSS
-62,435
-35,030
-386,267
Profit on disposal of investments
-
-
-
Interest receivable
3
3
6
LOSS ON ORDINARY ACTIVITIES BEFORE TAXATION
-62,432
-35,027
-386,261
Tax on loss on ordinary activities
-
-
-
LOSS FOR THE FINANCIAL PERIOD EARNINGS PER SHARE
-62,432
-35,027
-386,261
Basic EPS (pence)
-0.05
-0.04
-0.37
Diluted EPS (pence)
-0.05
-0.04
-0.37

All amounts relate to continuing operations.

There were no recognised gains and losses for 2011 or 2010 other than those included in the profit and loss account

BALANCE SHEET
AS AT 28 FEBRUARY 2011

  28-Feb 2011 28-Feb 2010 31-Aug 2010
 
GBP
GBP
GBP
GBP
GBP
GBP
FIXED ASSETS
Tangible fixed assets
809
1,234
925
Fixed asset investments
586,851
154,688
202,398
 
587,660
155,922
203,323
CURRENT ASSETS
Debtors: amounts falling due after more than one year
251,200
312,200
251,200
Debtors: amounts falling due within one year
9,922
27,379
3,523
Cash at bank
27, 264
52,121
49,235
 
288,386
391,700
303,958
CREDITORS: amounts falling due within one year
-20,642
-2,950
-13,843
NET CURRENT ASSETS
267,744
388,750
290,115
TOTAL ASSETS LESS CURRENT LIABILITIES
855,404
544,672
493,438
CAPITAL AND RESERVES
Called up share capital
673,800
472,334
532,334
Share premium account
974,509
451,577
691,577
Profit and loss account
-792,905
-379,239
-730,473
SHAREHOLDERS' FUNDS
855,404
544,672
493,438

The financial information contained in this announcement has not been reviewed by the Company's auditor.

The Directors of the Company accept responsibility for the announcement.

Enquiries:

ALPHA PROSPECTS PLC Christopher Foster +44 203 176 3031
RIVINGTON STREET CORPORATE FINANCE Eran Zucker +44 207 562 3373