RNS Number:3723T
Cabouchon PLC
19 December 2003

                                 Cabouchon plc

                 Unaudited Interim Results to 30 September 2003



Interim Statement

Less than three months have elapsed since the publication of our annual
accounts. During that time the company has changed its name to Cabouchon plc,
the resolution for this having being passed at the AGM.

Losses of #144,322 in the six months to 30 September represent an improvement on
the annual results, which were significantly affected by the write down of
goodwill. Sales were at similar levels to those of the previous year, but this
period includes the quiet summer months and we are looking forward to an
improvement during Christmas trading. In the meantime, we have had to rely
financially on the sale of our holding in Jubilee Investment Trust plc and the
issue of share warrants.

As indicated in the Chairman's Statement accompanying the annual accounts, the
extension of our network market continued to be disappointing and we have,
therefore, been examining other ways of marketing our products. We continue to
work with Ideal World, a digital shopping channel. We also mentioned that we
were piloting another route which could also prove successful. This development
has now seen the issue of our first mail order catalogue earlier this month
under the name of a newly created subsidiary - The Costume Jewellery Company
Limited. The catalogue has been circulated with magazines such as Harpers &
Queen and Tatler, as well as being mailed to names on appropriate purchased
databases. Early signs are encouraging and a full report will be sent to
shareholders when the statistics have been analysed.


By order of the Board

19 December 2003


Unaudited Profit & Loss for the six months ended 30 September 2003



                                                                          For the 6 months      For the year
                                                                        ended 30 September    ended 31 March
                                                                                      2003              2003
                                                                                         #                 #

Turnover                                                                            70,357           148,074

Cost of sales                                                                     (15,486)         (115,605)

Gross profit                                                                        54,871            32,469

Administrative expenses                                                          (198,538)       (1,125,359)

Operating loss                                                                   (143,667)       (1,092,890)

Loss on sale/amounts written off investments                                         (655)         (352,125)
Other interest receivable and similar income                                             -               831

Loss on ordinary activities before taxation                                      (144,322)       (1,444,184)

Tax on loss on ordinary activities                                                       -                 -

Loss for the financial period transferred from reserves                          (144,322)       (1,444,184)



There were no recognised gains or losses other than the loss for the period.

All of the activities of the group are classified  as continuing.



Unaudited Balance Sheet as at 30 September 2003

                                                           30 September  30 September   31 March      31 March        
                                                                   2003          2003       2003          2003       
                                                                      #             #          #             #

Fixed assets
Intangible assets
    Goodwill                                                                  283,333                  300,000
Tangible assets                                                                26,469                   30,260
                                                                              309,802                  330,260

Current assets
Stock                                                            55,492                   41,417
Debtors                                                               -                        -
Investments                                                           -                   97,875
Cash at bank and in hand                                         19,487                        4
                                                                 74,979                  139,296

Creditors: amounts falling due within one year                (224,458)                (257,036)

Net current (liabilities)/assets                                            (149,479)                (117,740)

Total assets less current liabilities                                         160,323                  212,520

Creditors: amounts falling due after more than one                            (4,500)                  (4,500)
year

                                                                              155,823                  208,020

Capital and reserves
Called up share capital                                                   1,530,000                  1,530,000
Share premium account                                                      333,307                     333,307
Share warrants                                                             92,125                            -
Profit and loss account                                                  (1,799,609)               (1,655,287)

Shareholders' funds                                                           155,823                  208,020

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