Preliminary announcement for six months ended 31 December 2005 - 28.04.2006

MWB Business Exchange Plc is the UK’s second largest provider of flexible office space, currently operating from 51 centres. The Company successfully listed on AIM in December 2005.

HIGHLIGHTS

• Successful AIM listing – raised £15m before costs through placing of 18.75m new shares.
• Cash to be used to eliminate debt and finance further planned expansion.
• 25% increase in total revenue at £35.9m against £28.6m for the six months ended 31st December 2004.
• Dramatic improvement in EBITDA to £3.1m, compared to £2.5m for the year ended 30th June 2005.
• Operating profits rise to £2.6m from an operating loss of £0.9m for the year ended 30th June 2005.
• Pre-tax profits were £2.1m in this period against a loss of £0.9m before a one-off property sale profit of £4.2m in the year ended 30th June 2005.
• Annualised revenue per available workstation (REVPAW) for the month of December 2005 rose 22% to £6,980 from £5,700 for December 2004.  Average REVPAW for the quarter to December 2005 was £7,210.
• Annualised revenue per occupied workstation (REVPOW) for the month of December 2005 rose 13% to £8,430 from £7,450 for December 2004.  Average REVPOW for the quarter to December 2005 was £8,580.
• 33% increase in meeting and conference room income at £2.4m against £1.8m for 6 months ended 31st December 2004

MWB Business Exchange Plc provides five star Serviced Offices operating a portfolio of over 1,500,000 sq ft of prime office Space throughout the UK, Meeting Venues with over 250 meeting rooms, and Virtual Offices.