Interim Results for Six Months ended 31 March 2011

For immediate release: 19 December 2011

MoneySwap Plc

("MoneySwap", the "Group" or the "Company")

Interim Results for Six Months ended 31 March 2011

The Directors of MoneySwap Plc (AIM:SWAP) the Asia focused currency transfer business, are pleased to announce its Interim Results for the six months ended 30 September 2011.

Operational Highlights

·; Admitted onto AIM 31 August 2011;

·; $5 (£3.1 million) million raised before expenses at Admission;

·; Hong Kong sales and marketing team expanded with key new hires;

·; Philippines office opened;

·; Business model for China adjusted to take advantage of the online payment licenses granted to a select number of non-banking institutions by the Chinese Government;

·; Strong pipeline of commercial opportunities being secured which the Board believes will convert into revenue in 2012.

Richard Proksa, CEO of MoneySwap, commented:

"We will continue to focus on building a strong pipeline in both existing and new markets and ensuring our services are competitive, secure and scalable. With our team's track record, expertise and commitment we look forward to the second half of the financial year and 2012 with optimism."

The Interim Results will be available to the shareholders and the public on the Company's web site (www.moneyswap.com) during the course of today.

- Ends -

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CHIEF EXECUTIVE'S STATEMENT

I am pleased to present our Interim Report for the six months ended 30 September 2011. This was a transformational period for the Company, with MoneySwap successfully raising US$5 million (£3.1 million) before expenses and having the Company's shares admitted to trading on AIM on 31 August 2011. We view the admission onto AIM as a key stepping-stone for the Company, it allows us to position ourselves far more credibly in the Asia markets. Indeed, we are already seeing the benefits of this through the strong pipe-line of commercial opportunities that are now being secured for the business which we anticipate will convert into significant revenues in 2012 and beyond.

Business review

Current Trading

Given the Group is still in the build-out phase, revenues from its activities were minimal during the period under review. In light of this, operating expenses were controlled to come in under budget. However, costs associated with the Admission meant that administrative expenses increased from US$2.3 million to US$3.2 million in the period. We are confident, though, that as a result of our expanding marketing and sales coverage, and revised business model for business in China due to new regulations, revenues will start to flow into the Group in 2012.

(i) Expanding Marketing and Sales Coverage

The Group significantly increased its marketing and sales staff and geographic coverage during the six months to 30 September 2011. With the addition of Lincoln Chang, director of business development, to the Hong Kong based sales and marketing team, the Group has successfully built a significant sales pipeline which is expected to generate a substantial revenue stream. With regards to geographic expansion in the region, I am pleased to report that during the period we also established an office in Manila to target the large potential market opportunities in the Philippines. This office is now staffed and operational and under the leadership of Seng Rhee who we successfully recruited to the role of Managing Director, Philippines. The Manila office is now building partnerships with existing financial institutions in the Philippines. Indeed, we are delighted to have attracted Lincoln and Seng, both of whom have an excellent track record, domain knowledge and an influential network in the region.

(ii) Business Model for China

During the period under review, the Chinese government granted online payment licenses to a selected number of non-banking institutions. These licenses enable non-banks to offer online payment services to clients in China. Given our specific focus on currency transfer and payments into and out of China, the Group has approached certain licensed institutions to leverage their customer base outside of China. I am delighted to report we have seen a strong interest by the Chinese licensed companies to expand their services outside of China and as a result we are at an advanced stage of discussions with them.

We likewise are continuing to progress our portfolio of Pre-Paid cards. We therefore anticipate being able to report updates in these areas during the second half of the current financial year.

As at 30 November 2011, the Group had 3,114 individuals and 69 corporates registered as users of the Group.

Outlook

We will continue to focus on building a strong pipeline in both existing and new markets and ensuring our services are competitive, secure and scalable. With our team's track record, expertise and commitment we look forward to the second half of the financial year and 2012 with optimism.

Richard V. Proksa

Chief Executive Officer

Date: 19 December 2011

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

FOR THE SIX MONTHSENDED 30 SEPTEMBER 2011

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

FOR THE SIX MONTHSENDED 30 SEPTEMBER 2011

CONSOLIDATED STATEMENT OF FINANCIAL POSITION

AS AT 30 SEPTEMBER 2011

CONSOLIDATED STATEMENT OF CASH FLOWS

FOR THE SIX MONTHSENDED 30 SEPTEMBER 2011

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS

FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2011

1 Basis of preparation

The interim consolidated financial statements incorporate the results of MoneySwap Plc (the "Company") and entities controlled by the Company (its subsidiaries) (collectively the "Group").

The interim consolidated financial statements of the Group have been prepared in accordance with International Accounting Standard 34 Interim Financial Reporting and do not include all of the information required for full annual financial statements.

The interim consolidated financial statements are unaudited, do not constitute statutory accounts within the meaning of Gibraltar Companies (Accounts) Act 1999, and were approved by the Board of directors on 19 December 2011.

The preparation of interim consolidated financial statements requires management to make judgements, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets and liabilities, income and expense. Actual results may differ from these estimates.

In preparing the interim consolidated financial statements, the significant judgements made by management in applying the Group's accounting policies and the key sources of estimation uncertainty were the same as those that applied to the consolidated financial statements as at and for the year ended 31 March 2011.

The accounting policies applied by the Group in the interim consolidated financial statements comply with each International Financial Reporting Standards that is mandatory for accounting for the six months ended 30 September 2011. These policies are consistent with those adopted in the Group's consolidated financial statements for the year ended 31 March 2011 and those which will be adopted in the Group's consolidated financial statements for the year ending 31 March 2012.

The principal risks and uncertainties of the Group have not changed since the last annual financial statements where a detailed explanation of such risks and uncertainties can be found.

2 Segmental analysis

In the opinion of the directors, the Group has three reportableoperating segments as follows:

- Casinos and online gaming ("Casinos")

- Small and medium-sized entities ("SMEs")

- International remittance

For the Group's internal reporting process, operating performance for SMEs and International remittance are assessed together and therefore, their segmental results are combined.

The directors consider that is neither possible nor meaningful to distinguish aggregate administrative expenses between the business segments, nor segmental net assets. As a result these amounts are not reported to the chief operating decision maker on a segmental basis.

The Group organised around two main geographical areas and a split of the geographical segments is as follows:

The major changes in segment assets during the period relate to the cash received from new shares issued (as in the consolidated statement of cash flows).

3 Taxation

Taxation of the Company and its subsidiaries is recognised based on the rules and regulations of their respective countries of incorporation.

A deferred tax asset has not been recognised in respect of all tax losses available to carry forward against suitable future trading profits as the directors consider there is insufficient evidence that all the assets will be recovered.

These assets can be recovered against suitable future trading profits.

4 Loss per share

During the six months ended 30 September 2011, the Group acquired assets with a cost of approximately US$56,000 (six months ended 30 September 2010: US$298,000).

The goodwill relates to the excess of consideration paid over the net assets acquired in MoneySwap Limited and MoneySwap FX Limited.

The recoverable amount of the cash-generating unit was determined based on value-in-use calculations, which was determined similarly to the 31 March 2011 goodwill impairment test.

In April 2011, 3,333,333 ordinary shares were issued for the acquisition of remaining 0.44% of equity interest in MoneySwap Holdings Limited, and 4,555,555 ordinary shares were issued for the conversion of loans payables by the Group.

In April 2011 and August 2011, 54,000,000 ordinary shares were issued for services rendered by consultants and employees.

In August 2011, 62,500,000 ordinary shares were issued as per subscription agreements dated 18 July 2011.

Dividends

The directors do not recommend the payment of a dividend for the six months ended 30 September 2011.

The fair value of the share options granted is measured using the Binomial Model.

At 30 September 2011 there were no capital commitments that had not been provided for.

There were no contingent liabilities at 30 September 2011.

12 Investments in subsidiaries

The Company holds issued share capital of the following subsidiary undertakings:

On 14 April 2011 approximately 0.44% of the issued share capital of MoneySwap Holdings Limited was transferred to the Company via a share for share exchange.

On 4 March 2011 the software acquisition agreement signed by MoneySwap Holdings Limited on 5 September 2009 was cancelled. As a result, on 18 May 2011 the 50,000,000 ordinary shares in MoneySwap Holdings Limited, approximately 6.7% of the issued share capital of MoneySwap Holdings Limited, issued in consideration for the software was transferred to the Company.

After the above two share transfers, MoneySwap Holdings Limited became a wholly owned subsidiary of the Company.

On 22 September 2011 the Company set up a wholly owned subsidiary in Philippines, with paid-in capital of PHP6,250,000.

13 Related party transactions

Related parties comprise mainly companies which are controlled or significantly influenced by the Group's key management personnel and their close family members.

In April 2011 Power Capital Exchange Corp. loaned a further US$416,000 to the Group. On 9 May 2011 a debt for equity agreement was signed to convert part of the loan of £200,000 to 4,000,000 ordinary shares at £0.05 per ordinary share, resulting in total outstanding balance due to Power Capital Exchange Corp. of US$1,349,000. On the same day Power Capital Exchange Corp. and the Company signed a loan agreement detailing the terms on which this amount was loaned. The loan is interest free and has a term of two years from the date of loan agreement.

The loan amount is repayable at the Company's discretion in any number of instalments. The loan amount may also be converted into ordinary shares at the Company's sole option at any time during the term, the conversion price will be the average mid market price of the Shares in the ten business days prior to notice of such conversion being given by the Company.

Between 30 April 2011 and 25 July 2011 Power Capital Exchange Corp. loaned a further US$749,254 to the Group. On 25 July 2011 Power Capital Exchange Corp. and the Company signed a loan agreement detailing the terms on which this amount was loaned. The loan is interest free and was repaid in September 2011.

Apart from the above, during the period Power Capital Exchange Corp. loaned US$324,000 to the Group. The loan is interest free and has no fixed repayment terms.

On 11 April 2011, the Company agreed to allot 20,000,000 ordinary shares to Black Swan FZE and 30,000,000 ordinary shares to Power Capital Exchange Corp. as consideration for services provided by Black Swan FZE and Power Capital Exchange Corp. to MoneySwap Holdings Limited in connection with the Company's admission to AIM of the London Stock Exchange, corporate restructuring, management support and financial support provided by these two organisations over the preceding 18 months.

On 28 April 2011 the Company allotted 500,000 ordinary shares to Richard Victor Proksa (the Company's Chief Executive Officer) to hold for and on behalf of Chee Boon Lee (the Company's Group Finance Director). These were subsequently transferred to Chee Boon Lee on 9 August 2011, as required pursuant to Chee Boon Lee's terms of employment.

On 5 May 2011 2,000,000 ordinary shares were allotted in the Company to Mr. Shih-Chieh Chang as consideration for his consultancy services to MoneySwap Holdings Limited.

On 9 August 2011 the Company allotted 1,000,000 ordinary shares in the Company to Dominic Madden, a previous employee of the Group.

In August 2011 the Company allotted 500,000 ordinary shares to Allenby Capital, the Company's nominated adviser.

On 12 August 2011 the Company granted options over 19,800,000 ordinary shares to the Group's directors, employees and consultant, exercisable for half to ten years at £0.03 to £0.05 per ordinary share.

On 25 August 2011 the Company granted options over 2,139,229 and 2,949,538 ordinary shares to a broker exercisable for five years at £0.05 and £0.03 per ordinary share respectively.

Intra group transactions

Transactions between Group companies have not been disclosed as these have all been eliminated in the preparation of the Interim Consolidated Financial Statements.

14 Ultimate controlling party

As at 30 September 2011 the Group had no controlling party.

15 Post balance sheet events

On 18 October 2011 the Company granted options over 4,200,000 ordinary shares to an employee exercisable for one and a half to ten years at £0.05 per ordinary share.