RNS Number:3330Q
Peerless Technology Group PLC
30 September 2003


                         PEERLESS TECHNOLOGY GROUP PLC

             INTERIM STATEMENT FOR THE 6 MONTHS ENDED 30 JUNE 2003

CHAIRMAN'S STATEMENT

I am pleased to report on Peerless Technology Group's unaudited interim
statement for the 6 months ended 30 June 2003.

For the 6 months ended 30 June 2003, the Company had a loss before and after tax
of #66,599, and had cash reserves of #2,200,361.

Since the Company's listing on the market in September 2001 the board has
considered a number of potential investment opportunities and has expanded its
remit following the extraordinary general meeting in June 2003.  The Board
remains hopeful of being able to conclude a transaction in due course.

A AHMED

Chairman
30 September 2003

BALANCE SHEET (UNAUDITED) AS AT 30 JUNE 2003

                                                                             Unaudited          Unaudited
                                                                           6 months to        6 months to
                                                                          30 June 2003       30 June 2002
                                                                                     #                  #
Current assets

Cash                                                                         2,200,361          2,307,851

Debtor                                                                        4,456                10,450

                                                                           2,204,816            2,318,301

Creditors:  Amounts Falling Due Within One Year                               (35,467)           (33,701)

                                                                             2,169,349          2,284,601

Capital and reserves

Share capital                                                                  149,625            149,625

Share premium                                                                2,193,742          2,193,742

Profit and loss                                                              (174,017)           (58,766)

                                                                             2,169,349          2,284,601


PROFIT AND LOSS (UNAUDITED)
FOR THE 6 MONTHS ENDED 30 JUNE 2003


                                                                             Unaudited          Unaudited
                                                                           6 months to        6 months to
                                                                          30 June 2003       30 June 2002
                                                                            #                  #

Turnover                                                                             -                  -

Administrative Expenses                                                       (97,358)           (62,302)

Operating Loss                                                                (97,358)           (62,302)

Net Interest Receivable                                                         30,759             40,481

Loss on Ordinary Activities Before Taxation                                   (66,599)           (21,821)


Taxation                                                                             -                  -

Loss on Ordinary Activities After Taxation                                    (66,599)           (21,821)

Reserves b/f                                                                 (107,418)           (36,944)

Reserves c/f                                                                 (174,017)           (58,766)

Copies of this statement are being sent to shareholders of the Company and are
also available at the Company's Registered Office.


                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

IR BBLFXXKBBBBK