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Fantastic Interims from LNR Highlights: • Turnover more than trebled to £4.52m (2006: £1.2m)• Gross Profits increased 450% to £820,000 (2006: £187,000) • Net Assets of £21.48m (2006: £12.75m) • Net cash of £2.52m (31st December 2007: £0.4m) SEE: http://www.investegate.co.uk/Article.aspx?id=200709280701376557E

SEE:__________http://www.investegate.co.uk/Article.aspx?id=200709280849487080E

http://www.investegate.co.uk/Article.aspx?id=200709280705536936E

Some recent interesting news of projects in hand and two Director Buys reported yesterday. Worth keeping an eye open on this Stock. SEE:_________Investor Information - Regulatory Announcements on website.

Nice one Lynica, hope you removed the ears first. I think in a few months time the SP will be well above the current. Best wishes.

Hi sparkyA1, well I'm OK but made a blip or two of late, but nothing to worry about. How are things with you, well I hope. I've heard nothing regarding the will story and like all, wish it was resolved. I agree it's dragging on and was wondering if was in Town in October, am tempted to visit The Biometrics Exhibition at Queen Elizabeth II Hall and pop the question. However, if anyone is planning a visit there, do likewise. If I do hear anything I shall post it up. Best wishes for now sparky.

Hi Sandhopper, just noticed your footprint. Good luck, this should turn around on further good news. I would say the SP is wellcheap and I and others I know, look foward to a normal situation when the Will is sorted and things back to normal. They are a very good at what they do.

Clapham House Holding in Company The Board of Clapham House announces that they received formal notification on 26 September 2007 from Kaupthing Bank Luxembourg S.A. ("Kaupthing") that as at 25 September 2007 Kaupthing held, on behalf of a client, an indirect interest in 1,866,500 ordinary shares of 10 pence each in the Company representing 5.10% of the current issued share capital of the Company. The entire interest of Kaupthing in the Company is held through contracts for difference in the Company (with no voting rights).

Lynica ( do you like Walkers crisps ?) I know of no reason for the drop. No bad news I'm aware of, last news as I'm sure you are aware was the Aquilo Inspection and Reinstatement Services Ltd take over which can only add to profits in due course. On Friday I span a coin shall I add to ROK or punt on AAZ. Like the D--k Head I am of late it turned out Heads for ROK. Sure, it hurts right now, but I know they will pull up. I am also considering the fact that there were fat profits and big rises in the SP over the past two years, so for sure some profit taking and fear of a possible Shakey period for the Market. ROK is still a class Company.

Agree Guys, and good morning. Unsettled Market probably affecting many Stocks. The words___' sales are on target at its flagship Newhaven development ' are what one wants to hear. If it drops, buy!

Talking of Share Price drops, RCG now shows a jump down this AM. Also resting on excellent recent results. Wonder how many have 'done their peices' with NRK and are selling other stocks. I see this as a buying opportunity too.

I don't think there is much to worry about here either dasv. I also think the proposed consolidation if it goes through will help the Company. Noticed cynic's name below, I wonder whatever happened to him, I miss his input. I hope he didn't consume too much chicken soup!

Gresham House to sell Dorking property for 8.2 mln stg to Linden 25-SEP-2007 LONDON Gresham House PLC it has agreed to sell its investment property interests in Vincent Lane, Dorking for 8.2 mln stg to Linden Ltd to fund the company's working capital. The property and early-stage investment trust said it has also agreed to sell its property interests in Speke Boulevard, Speke, Liverpool for a consideration of 61 mln stg or 85 pct of the market value to a third party. Gresham said the Dorking property sale is conditional only on planning permission being granted for residential development by November 2008, while the Liverpool property sales is conditional on planning permission being granted for the change of use to A1 retail. TFN.newsdesk@thomson.com

Miners BHP Billiton, Xstrata, Rio Tinto and Vedanta Resources were among the best risers on near record metal prices. BHP Billiton was buoyed by reports that it is preparing to announce a big upgrade of gold resources at its Olympic Dam mine.

Worth telephoning their office, often less frighting than one may think! http://www.tersusenergy.com/contact.html

"BIOMETRICS 2007" will be held in at the Queen Elizabeth II Conference Centre in Westminster, London, UK on 17 - 19 OCTOBER 2007 SEE:_______________http://www.biometrics.elsevier.com/sponsors.htm

Management: The CEO, Jeff Hopmayer, is to leave with the US disposal, which is good news for the rest of Blavod. Hopmayer has made a few errors in his days - from promoting the shares and selling his stake at a high; to agreeing an equity line of credit proposal with Headstart; to frivolously spending money on brand promotion with little regard to the bottom line. Richard Ambler, the original Blavod head, is a more trustworthy replacement and is very capable of pushing Blavod into profitability. Bull Points: - Loss-making US business to be sold - Stronger management in place - UK sales growing rapidly - Stronger balance sheet Bear Points: UK competition means limited scope for margin improvement on the vodka business

In recent weeks Blavod has proposed to sell off its US operations to a company controlled by current CEO Jeff Hopmayer. The terms of the deal are very favourable to Blavod and will slash annual losses of £2.56 million from the accounts. On completion, Blavod will receive $800,000 in cash, and the buyer will assume the liability for the amounts owed under its current bank facility of around $3.2 million. It is now clear that the 2004 acquisition of the US enterprise was a mistake, so the disposal news will be viewed positively by existing shareholders and transforms the prospects of the Blavod business. A review of operations found that while overall sales are growing, the company's own brand sales are slowing, and the US arm would need serious funding to grow the portfolio or acquire new brands. Meanwhile, in the UK, sales of Blavod Black Vodka are growing despite severe price competition by other leading vodka brands. That competition is unlikely to ease off in the short term, the management admits, so that gross margins will struggle to get above 18%. In the interim period of 2006, UK margins were at 24%. However, it is important to emphasize that the margins on other products (the distribution of Rothschild wines and some small spirit brands) remain good and are capable of rising in partial compensation for the Black Vodka margin setback. This should lead to an overall improved margin result in the March 2007 numbers, which are yet to be released.

The Investment Case: Blavod (BES) has been racking up heavy losses for a few years but three weeks ago, the company announced a plan that would rectify all that: to sell off the US business. The remaining UK business has major profit potential - in fact it is profitable at an operating level. The shares, at 3.25p, will be re-rated once the new strategy proves out. The management and balance sheet have also been strengthened, making the story even more attractive. Company Description: Blavod Extreme Spirits is an international spirits company with US operations based in Franklin, Tennessee. Formed by the 2003 merger of Blavod Black Vodka and Extreme Beverage Company, Blavod Extreme Spirits produces and sells its black-coloured vodka across the globe. In the US, Blavod is the exclusive distributor of an elite wine portfolio of Italian vintages. It also carries out the marketing and selling of various spirits, as well as importing Blavod Black Vodka, and distributing several other liquors, including the Players Extreme line of intensely flavour-infused vodkas and rums. The company also distributes Agwa, a herbal liqueur containing coca leaf, guarana and ginseng, and in the UK wholesales Marie Brizard & Roger International brands.

Valuation and 3-year Target: The group should turn in a heavy loss of £4.3 million for the year ended March 2007. But that is to be ignored; the real potential lies in the remaining UK business which must now be trading at breakeven on its own. If Blavod meets our March 2008 sales forecast of £4 million, that could be what it takes to send this company into profitably, by around £300,000. That translates to earnings of 0.4p. At a growth rate of 30%, UK sales could plausibly reach £5.2 million in 2009, generating profits of £0.8 million and earnings of 1p. The stock is thus rated on a forward multiple of 3.25 times, which more than discounts the poor performance of the US business and any forecast risk. A valuation of just over 50% of next year's sales must tempt trade buyers into having a look. Assessment: The share price has been battered this year but whatever way you look at it, Blavod's prospects have been positively rejuvenated, with heavy recurring losses and debt taken out of the picture, and a winning product that has huge profit making potential. Sentiment on this stock is not great but we believe it has bottomed out leaving enormous potential upside from here. BUY.