Image Scan Holdings plc Advanced X-ray Imaging Solutions FY 2007 Preliminary Results

1. Image Scan Holdings plc Advanced X-ray Imaging Solutions FY 2007Preliminary Results

2. Financial Results Profit and loss account Year ended 30 September 2004 2005 2006 2007 Sales (£’000) 424 843 1,422 1,541 Gross margin (%) 44% 47% 50% 46% Overheads (£’000) 1,448 1,116 1,220 1,522 Profit/(loss) (£’000) (1,210) (692) (470) (761) EPS (pence) (6.3) (2.7) (1.3) (1.9)

3. Financial Results Balance Sheet 30th September 2004 2005 2006 2007 FY FY FY FY (£’000) (£’000) (£’000) (£’000) Fixed assets 211 174 190 111 Net cash (5) 137 (36) 1,531 Net current assets/(liabilities) (103) 162 (111) 1,796 Total net assets/(liabilities) 75 315 (143) 1,877 Accumulated losses (4,001) (4,693) (5,164) (5,925)

4. Financial Results • Sales at £1.5m with disappointing order intake in H2 • Slow take-up of the TPXi system • Reduced margins caused by customer-led delays in commissioning JM contract and development of 2nd generation MDXi system • Increased headcount to address H1 contract requirements • Write-off of formerly capitalised R&D and IPR • Bank balance currently stands at £1.3 million

5. Changes • Appointed new Chairman – Gilbert Chalk • Appointed new NED – Jerry Horwood • Refocus of sales team with appointment of new sales & marketing manager – Vince Deery • Reduction in headcount of 7 staff, net annualised saving of £330k • Shift to a more commercially-aware workforce • Appointment of an Operations Manager

6. Overview Security • AXIS-3D – order for 4 units for the Beijing Olympics • TPXi – recent order for further units from BTP • TPXi – sales of 15 in FY07 and 14 in Q1 FY08 • TPXi – Distributor, ICM, has strong rising sales trend but orders are still lumpy and not easily predictable

7. TPXi in Taiwan

8. Overview Industrial • Poor order intake in H2 2007 • British Nuclear Group contract to complete March 2008 with £400k revenue due in FY08 • Johnson Matthey installation delayed until February by customer • £110k of recurring revenue from maintenance contracts, plus spares • On-going sales opportunities arising from the catalytic converter market

9. Growing the Company • On track to achieve profitability through organic growth • Scope to advance the process through add-on acquisitions • Reviewing strategic options

10. Prospects • Aiming to achieve recurring sales from standard products – TPXi being of particular importance • Opportunity to capitalise on long term prospects for security products in China • Principal focus of the new sales manager is to build up the industrial pipeline • 2009 target to achieve profits of 10% on sales

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