Ultrasis Plc Regulatory News (ULT)

Ultrasis plc

("Ultrasis" or the "Company")

Interim Results for the six months ended 31 January 2012

Ultrasis, the provider of interactive health care services, announces its unaudited financial results for the six months ended 31 January 2012 (the "Interim Results"):

• Revenue of £513,000 (2011: £1,437,000) is significantly lower than the prior period due mainly to the sustained pause in spending in our core NHS market whilst the government's Health reforms are being implemented.

• Loss before tax of £771,000 (2011: profit before tax of £191,000), reflecting the fall in revenues.

• Administrative expenses of £1,289,000 (2011: £1,227,000): The Company is currently reducing its cost base to better match conservative revenue forecasts for the full year. Accordingly, the Company entered into a consultation period on staff redundancies consequent on restructuring, with some action already implemented.

• Cash reserves of £1,421,000 (2011: £2,123,000) have reduced because of the continued hiatus in UK sales revenue in the NHS.

• Positively, we continue pursuit of our strategy to diversify into new markets at home and abroad with both "GetFit Wellness" solutions and "Beating the Blues" ("BtB"), in an effort to reduce the Company's reliance on the domestic NHS market.

For further information contact:

 Chris Lawrance

Statement from Chairman and Chief Executive

The economic climate remains very tough and the last six months have been particularly challenging in our core market, the UK's NHS, due to fundamental changes to commissioning arrangements under the Health & Social Care Bill. Whilst a large number of the new Clinical Commissioning Groups ("CCG's") and GP Consortia have been established, they are in a "shadow" form with funding arrangements still to be finalised and have only recently been granted legal authority. This situation and the general pressure across the NHS to avoid expenditure commitments have had a severe adverse impact on the Company's sales in the UK. Accordingly, the Company has taken action to mitigate the impact of declining UK sales.

"Beating the Blues" remains a world leading low cost solution for the treatment of anxiety and depression, as evidenced by the choice of countries such as New Zealand, which made BtB available nationally. Already Ultrasis' joint venture with UPMC of Pittsburgh - Usquared Interactive - is gaining traction in the more fertile North American market and we expect to announce more contract gains across a diverse range of new customers in the near future.

However, the NHS remains an important area of focus. There continues to be an increasing number of patients visiting GPs with depression and poor mental health. The current structural reorganisation in the NHS has resulted in a pause in revenue but when the new structures, which are designed to focus on efficient deployment of resources, are fully operational we believe that the cost effective solution that "Beating the Blues" offers will have direct economic relevance to our NHS customer.

Financial highlights

Revenues in the period were £513,000 (2011: £1,437,000), significantly lower than the prior period due to the sustained pause in spending in our core NHS market. Administrative expenses were £1,289,000 (2011: £1,227,000). The loss before tax of £771,000 (2011: profit before tax of £191,000) and the reduced cash reserves of £1,442,000 (2011: £2,123,000) are both reflective of the fall in revenues during the period.

Nigel Brabbins Gerald Malone

Chief Executive Non-Executive Chairman

4 April 2012

CONSOLIDATED statement of comprehensive income for the six months ended 31 January 2012

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY for the six months ended 31 January 2012

CONSOLIDATED STATEMENT OF FINANCIAL POSITION as at 31 January 2012

CONSOLIDATED CASH FLOW STATEMENT for the six months ended 31 January 2012

NOTES TO THE FINANCIAL INFORMATION for the six months ended 31 January 2012

1. Nature of financial information

The consolidated interim financial statements of Ultrasis plc (the "Company") comprise the result of the Company and its subsidiaries for the period 1 August 2011 to 31 January 2012. The financial information contained in this interim report does not constitute statutory accounts as defined by section 435 of the Companies Act 2006. The interim financial information is unaudited and incorporates unaudited comparative figures for the interim period 1 August 2010 to 31 January 2011 and extracts from the audited financial statements for the year to 31 July 2011. The financial information for the year ended 31 July 2011 set out in this interim report does not constitute the Company's statutory accounts for that period. The statutory accounts for the year ended 31 July 2011 have been delivered to the Registrar of Companies. The auditors reported on those accounts; their report was unqualified, did not contain a statement under either Section 498 (2) or Section 498 (3) of the Companies Act 2006 and did not include references to any matters to which the auditor drew attention by way of emphasis.

The interim financial information has been prepared using International Financial Reporting Standards (IFRS and IFRIC interpretations) issued by the International Accounting Standards Board ("IASB") as adopted for use in the EU, with the exception of IAS 34, which is not required for AIM listed companies. The interim financial information has been prepared on a basis consistent with the accounting policies disclosed in the Annual Report and Accounts for the year ended 31 July 2011.

2. Basic and Diluted earnings per share

The calculation of diluted alternative earnings per share assumes conversion of all potentially dilutive ordinary shares, all of which arise from share options.

The calculations of earnings per share are based on the following profits and numbers of shares: