Interim Results for the Six Months ended 31 December 2009

Key Financial Points

• Turnover £5.29m (2008: £0.35m)
• Operating profit  £0.39m (2008: loss of £4.24m)
• Pre tax profit £0.11m (2008: loss of £4.95m)
• Net borrowings £8.79m (2008: £6.79m) and bank facility renewed
• Stocks and investment property £50.73m (2008: £54.26m)
• Net assets £41.87m (2008: £47.40m)

Key Operational Points

• Sale of 40 plots during the period and a further 105 plots since 31 December 2009
• Planning application at RAF West Drayton was submitted for 775 homes and 55,000 sq ft for employment and community use
• Inland’s housebuilding activities now producing sales
• Secured planning consent for 23 residential plots since 1 July 2009
• Land portfolio now includes 1,980 plots of which 628 are now consented

Stephen Wicks, Chief Executive of Inland commented:

"The impact of the credit crunch on the UK property market has been much publicised over the last 18 months.  Our business, like many others in the sector, has had to make adjustments and re-evaluate strategy.  Despite this, the last few months have proved to be something of a watershed with demand for land increasing as housebuilders start to replenish their land banks.  Our prime sites in the south east are proving attractive to these buyers.

Our ability to progress a number of exciting land opportunities whilst also disposing of a number of our smaller plots is testament to the drive and dedication of the team here at Inland.  We look forward to the next six months with renewed optimism."

For further information please contact:

Inland Plc
Stephen Wicks, Chief Executive
Nishith Malde, Finance Director
Tel: 01494 762450

FinnCap Nominated Adviser & Broker
Matthew Robinson (Corporate Finance)
Rhydian Bankes (Corporate Finance)
Tel: 020 7600 1658

Buchanan Communications
Jeremy Garcia /  Christian Goodbody
Tel: 020 7466 5000

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