Interim Results

Ultrasis plc

("Ultrasis" or the "Company")

Interim Results for the six months ended 31 January 2013

Ultrasis, the provider of interactive health care services, announces its unaudited financial results for the six months ended 31 January 2013 (the "Interim Results"):

·; Revenue of £486,000 (2012: £513,000) is broadly in line with the prior period. The sustained pause in NHS spending has continued, however we are pleased to report that invoiced sales for the half year totalled £255,000 compared with £211,000 last year and, consistent with previous years, we anticipate a stronger second half of the year. This provides a firm revenue base upon which to build, added to which Clinical Commissioning Groups ("CCGs") are now being formed and given authority to spend NHS funds.

·; Loss before tax of £632,000 (2012: £771,000).

·; Administrative expenses of £1,112,000 (2011: £1,289,000) reflect the effects of the cost saving measures implemented in the prior period.

·; Cash balances of £614,000 (2012: £1,442,000) have reduced as the hiatus in UK sales revenue in the NHS continued. In February 2013, post period end, we secured an equity subscription of £0.5m at 0.28 pence per share together with two loan facilities totalling £2.35m, which together remove the material uncertainty about the Group's ability to continue as a going concern and provide Ultrasis with medium term financial security.

·; We continue to pursue our strategy of diversifying into new markets at home and abroad with both "GetFit Wellness" solutions and "Beating the Blues" ("BtB"). Progress is being seen over a diverse range of markets in North America for our joint venture with University of Pittsburgh Medical Centre, USquared Interactive.

For further information contact:

 Chris Lawrance

Statement from Chairman and Chief Executive

A key milestone for the Company was reached via the investment in Ultrasis by an existing significant shareholder, Mr Paul Bell, which was announced on 29 January 2013 and which made available up to £2.85m through a combination of both new equity (£0.5m) and debt (£2.35m) facilities. This investment provides the Company with medium term financial security during difficult times, allowing the management team to focus on business development, both in the UK and internationally.

The economic climate remains very tough and particularly challenging in our core market, the UK's NHS. The significant changes to commissioning arrangements under the Health & Social Care Act are now nearing final form, with new CCGs being established and funding arrangements put in place. The NHS Commissioning Board has now authorised CCGs to commission services for their communities in 163 of the 211 CCGs planned to be in place by 1 April 2013.

The incidence of anxiety and depression across the country is continuing to increase and the NHS remains an important area of focus. The emergence of CCGs will provide GPs with a greater opportunity to influence the decision making that delivers outcomes that matter to them and their patients. Recent new contract gains and continued renewals confirm that BtB, as recommended by the National Institute for Health and Clinical Excellence, remains an efficacious solution for the treatment of anxiety and depression. BtB remains a world leading low cost solution with direct economic relevance to the NHS.

In North America, USquared Interactive is making solid progress with BtB US. Notable achievements include our first Blue Cross Blue Shield insurer in South Carolina; commencement of three large research projects, funded by the National Institute of Mental Health America, utilising BtB US ; commencement of a pilot with New York State office of Mental Health in a number of primary care clinics; and the successful pilot with the Veterans Association of Michigan. Revenues are starting to build in the US and discussions are advancing with a number of other potential healthcare providers.

Post period end, we were pleased to welcome Mr Daniel Bate to the Board on 14 February 2013. We anticipate Mr Bate's experience of UK capital markets being of significant use to Ultrasis as we seek to grow the business.

Outlook

The NHS market in the UK remains weak, but the Board sees evidence that, as the newly formed Clinical Commissioning Groups begin to take up their responsibilities, some resumption of purchasing activity is taking place and anticipates that this trend will continue.

Nigel Brabbins Gerald Malone

Chief Executive Non-Executive Chairman

20 March 2013

CONSOLIDATED statement of PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

 for the six months ended 31 January 2013

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY for the six months ended 31 January 2013

CONSOLIDATED STATEMENT OF FINANCIAL POSITION as at 31 January 2013

CONSOLIDATED CASH FLOW STATEMENT for the six months ended 31 January 2013

NOTES TO THE FINANCIAL INFORMATION for the six months ended 31 January 2013

1. Nature of financial information

The consolidated interim financial statements of Ultrasis comprise the result of the Company and its subsidiaries for the period 1 August 2012 to 31 January 2013. The financial information contained in this interim report does not constitute statutory accounts as defined by section 434 of the Companies Act 2006. The interim financial information is unaudited and incorporates unaudited comparative figures for the interim period 1 August 2011 to 31 January 2012 and extracts from the audited financial statements for the year to 31 July 2012. The financial information for the year ended 31 July 2012 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 2012 have been delivered to the Registrar of Companies. The auditors reported on those accounts; their report was unqualified and did not contain a statement under either Section 498 (2) or Section 498 (3) of the Companies Act 2006. However, their report drew attention by way of emphasis to the basis of preparation of the financial statements.

The interim financial information has been prepared using accounting policies consistent with International Financial Reporting Standards (IFRS and IFRIC interpretations) issued by the International Accounting Standards Board ("IASB") as adopted for use in the EU. 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 2012.

Amendments to IAS1 presentation of items of other comprehensive income

The Group has applied the amendments to IAS1 titled Presentation of Items of Other Comprehensive Income (effective for annual periods beginning on or after 1 July 2012). The amendments require items of other comprehensive income to be grouped into two categories in the other comprehensive income: (a) items that will not be reclassified subsequently to profit or loss and (b) items that may be reclassified subsequently to profit or loss when specific conditions are met. Tax on items of other comprehensive income is required to be allocated on the same basis. The amendments have been applied retrospectively, and hence the presentation of other comprehensive income has been modified to reflect the changes. Other than the above mentioned presentational changes, the application of the amendments to IAS 1 do not result in any impact on profit or loss, other comprehensive income and total comprehensive income.

2. Basic and Diluted loss per share

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

The calculations of loss per share are based on the following losses and numbers of shares: