Final Results

10 March 2011

Mentum Inc.

("Mentum" or "the Group")

Final results for the year ended 31 December 2010

Mentum (ticker: MEN.L) the international commodities group announces its results for the year ended 31 December 2010.

Financial Summary

·; Total Group revenues of US$15.6 million (2009: US$20.1 million).

·; Loss for the year US$(5.5) million (2009: US$(14.7) million).

·; Total of non-cash items US$2.9 million (2009: US$8.2 million).

·; As at 31 December 2010 the Group had cash balances of US$1.7 million (2009: US$1.3 million).

Operations

·; Solid trading performance from LME Floor Trading.

·; Continued challenging market conditions in base metals markets during the year.

·; Group maintained a tight control on risk during 2010.

·; Acceleration of cost reduction strategy.

 Current trading and outlook

"Going forward our LME Floor Trading revenues continue to form the core of the Group's income. The Board has now undertaken a fundamental review of the business which has concluded in the complete reshaping of the Group's cost base which will be considerably lower and takes it back to its profitable core trading revenue stream. We are in the process of minimalizing all other costs of the related Group businesses including asset management and non-metals trading desks.

These actions which are now being executed will result in a substantially lower cost base and allow the core business to perform profitably."

Enquiries:

Chief Executive's Statement

Results

Operating income in 2010 was US$6.1 million (2009: Loss US$(4.4) million), reflecting the lower costs associated with the renegotiated agreement with Sucden Financial Limited and the completion of the amortisation of that agreement in 2009. The LME floor revenues were US$14.9 million compared to US$19.3 million generated in 2009. The reduction in revenues is largely attributable to the change in Sucden agreement terms, whereby Sucden paid Mentum 75% of floor revenues throughout 2010, whereas for the majority of 2009, Mentum received 100% of revenues, but with an associated materially higher cost base.

Administrative expenses for the year ended 31 December 2010 of US$6.5 million compared to US$6.9 million in 2009. The impact of cost reduction measures will be felt in 2011.

During the second half of the year, the Group accounted for the remaining expense associated with the share option scheme. Non-cash expense items are substantially lower than in the previous year, reflecting the completion of amortisation of the Tambelan agreement and the fully written down goodwill in 2009.

No dividend is proposed.

As at 31 December 2010 the Group had no debt and its cash balances stood at US$1.7 million compared to US$1.3 million at the previous year end.

Operating Review

During 2010 the Group's main source of revenues continued to be derived from LME floor trading. Despite the headlines achieved by the directional price gains of a number of commodity groups, the underlying trading conditions, particularly in metals trading, remained challenging. Substantive, volatile price moves were not accompanied by a commensurate increase in liquidity, and this lack of liquidity proved a challenge throughout 2010. However, despite these underlying difficult trading conditions the Group's core revenues remained steady.

During the first six months of the year the Group saw an improvement in revenues over the same period in 2009, predominantly in LME floor trading revenues. These revenues exceeded the average monthly revenues achieved during 2009 and it was also encouraging to see an improvement in net margins over the same period. The improvement in margins from LME Floor Trading came as a result of the significantly lower fixed operating cost payable by Mentum during the first half of 2010 which continued into the second half as part of the amendments to the aforementioned Sucden agreement. Whilst revenues in the second half of the year were lower than the first half, a period in which the more volatile price moves referred to above were experienced, LME Floor Trading revenues nevertheless performed solidly for the remainder of the year. Of these revenues commission based income remained strong throughout the year.

Cost Reduction - Focus on Profitable Revenue Stream

The Board has undertaken a thorough review of the business and has decided that given the continued challenging market conditions for commodities based funds and products the Group's asset management business will be closed and the focus of the business will revert to the core revenue stream derived from trading on the London Metal Exchange. Due to a decrease in the assets under management during the prior year, the value of the asset management business was already prudently written down to nil value in the year end accounts to 31 December 2009 and the Group has now commenced a programme to reduce costs in the business, in a continuation of a previously announced cost reduction exercise.

As a result we would expect to see the benefits of a 30% per cent reduction in costs over the remainder of 2011 as obligations under contracts are phased out and increase to a 60% per cent reduction in costs on a full year basis as we enter 2012. This after netting revenues generated from sub-let office space in London. In addition, share option costs (US$2.9 million in 2010) and direct trading costs associated with the first year of the renegotiated Tambelan deal (US$0.8 million in 2010) will not recur in 2011.

Current trading and outlook

Our LME Floor Trading revenues continue to form the core of the Group's income. The Board has concluded a fundamental review of the business which has resulted in the complete reshaping of the Group's cost base which will be considerably lower going forward and take it back to its profitable core trading revenue stream. We are in the process of minimising all other costs of the related Group businesses including asset management and non-metals trading desks.

In the first couple of months of the current financial year we continued to experience the highly volatile trading conditions that were demonstrated by commodities markets during 2010 and expect these to persist throughout 2011. As such we will to continue to prudently employ our risk parameters, which served to deliver a solid core revenue stream during the last year.

David Phipps

Chief Executive

10 March 2011

1 Accounting policies

a) Basis of preparation

The Company was incorporated as a Corporation in the Cayman Islands which does not prescribe the adoption of any particular accounting framework. The Board has therefore adopted and complied with International Financial Reporting Standards as adopted by the European Union (IFRS).

The Group's shares are listed on the AIM market of the London Stock Exchange.

The principal accounting policies of the Group, which have been applied consistently, are detailed in the Group's annual report and consolidated financial statements.

2 segmental reporting

IFRS 8 requires an entity to report financial and descriptive information about its reportable segments. Reportable segments are operating segments or aggregations of operating segments that meet specified criteria. Operating segments are components of an entity about which separate financial information is available that is evaluated regularly by the chief operating decision maker in deciding how to allocate resources and in assessing performance. Generally, financial information is required to be reported on the same basis as is used internally for evaluating operating segment performance and deciding how to allocate resources to operating segments.

The chief operating decision maker of the Group is the Chief Executive Officer (CEO). Financial information used internally by the CEO for evaluating performance and deciding how to allocate resources does not identify separable geographical or operating segments but rather presents information for the Group as a whole. For this reason, the Group reports financial information in its financial statements on the basis of the Group as a whole and does not report by operating or geographic segment.

3 tax

There is no tax charge for the year (2009: US$nil). The acquisition of Mentum Partners Limited and Mentum LLP in 2009 has meant that a proportion of the Group's operations were taxable in the UK.

The tax assessed for the period differs from the standard rate of corporation tax in the UK as follows:

Any tax losses available to carry forward in relation to the UK entities are not significant to the Group.

4 LOSS per share

The calculation of the basic loss per share is based on the net loss for the year of $(5,474,000) (2009: loss $14,660,000) divided by the weighted average number of shares in issue during the year of 349,268,114 (2009: 349,268,114). This results in a loss per share of $0.016 (2009: $0.042).

The impact of the share options and warrant is anti-dilutive on the basic loss per share in 2010 and 2009.

5 PUBLICATION

The financial information set out in this preliminary announcement does not constitute statutory accounts.The consolidated statement of financial position at 31 December 2010 and the consolidated statement of comprehensive income, consolidated statement of changes in equity, consolidated statement of cash flows and enclosed notes for the year then ended have been extracted from the Group's 2010 statutory financial statements upon which the auditors opinion is unqualified.

The Annual Report for the year ended 31 December 2010 will be posted to shareholders shortly.

The Annual General Meeting of the Group will be held at the Company's Geneva offices, Place Chevelu 6, 1211 Geneva 1, Switzerland on 7 April 2011 at 11.30am CEST (Geneva time).

Copies of the report will be available on the company's website, www.commoditrade.net.