(MDZ) MediaZest

MediaZest Plc

Half-yearly unaudited results for the six months ended 30 September 2011

CHAIRMAN'S STATEMENT

Introduction

The results for MediaZest Plc ("MediaZest", the "Company", and collectively
with its wholly owned subsidiary, TouchVision Limited, the "Group") reflect the
six-month period to 30 September 2011 and incorporate the results of its wholly
owned subsidiary.

Financial Review

Revenue for the period was £1,746,000 (2010 - £1,080,000) and the Group made a
loss for the period, after taxation, of £151,000 (2010 - loss of £109,000)
after finance costs of £42,000 (2010 - £32,000) and having paid administrative
expenses of £754,000 (2010 - £595,000). The basic and fully diluted loss per
share was 0.054p (2010 - 0.065p). The Group had cash in hand of £139,000 (2010
- £2,000) at the period end. EBITDA was a loss of £103,000 (2010 - loss of £
68,000).

Operational Review

The Group operates, currently, two trading businesses: TouchVision ("TV") and
MediaZest Ventures ("MV). TV trades as an audio visual supply and installation
company whilst MV operates as a digital out of home creative agency.

The results for the period demonstrate a significant increase in turnover in
comparison to the corresponding period in 2010. Turnover for the period was
almost as much as was achieved in the whole of the year ended 31 March 2011.
The source of this increase in revenue was due largely to enhanced spending
from existing retail customers, such as O2, HMV and JD Sports, as well as the
securing of business from new clients such as West Bromwich Building Society.

Business in the Education market is challenging. Government cut backs have
affected the sector as a whole and margins are under pressure. Whilst we made
progress in covering a wider range of educational institutions due to our
inclusion on the consortium panel much of our business in this sector was
derived from lower margin equipment sales rather than full scale refurbishments
and installations. Notwithstanding, we were contracted to perform a major
installation with a south eastern based university as well as smaller pieces of
work with other educational establishments.

The Group continued to monitor its cost base closely and looked to trim costs
where possible without compromising the ability of the Group to generate
revenue. James Abdool joined the Group as Sales Director in the period and has
been responsible for introducing meaningful new business to the Group.
Touchvision, the operating company within the Group, traded profitably for the
period but as yet is not generating enough revenue to absorb the entirety of
Group overhead which along with Group financing costs accounted, largely, for
the period loss of £151,000.

Outlook

The Group will continue to place emphasis on MV's retail offering complemented
by the high quality engineering and installation services that TV provides.
Further hiring of experienced personnel in these areas is anticipated to
enhance the Group's revenue. Furthermore, the Group will continue to place
emphasis on improving the quality of its revenues with the longer term
objective of covering monthly overhead in its entirety from this source. We
have increased the flexibility of our business model by acquiring a number of
high demand capital items, some at extremely favourable prices, for hire/long
term rental to customers. The purpose of this is to take advantage of campaign
business which may not be financially viable if the equipment needed to be
purchased by the client. This is already proving to be beneficial and the Group
continues to look for opportunities to extend this activity, particularly with
a number of high profile events in the next 12 months.

In terms of cost reductions, several property leases that the Group inherited
at the time of its acquisition of TV expire within the next few months and
these are unlikely to be renewed. Financing costs remain high and the Group is
negotiating with the providers of credit to provide improved terms going
forward.

The business that the Group's subsidiary conducts is in essence project based
and whilst progress has been made in changing both the business and revenue
mixes this is likely to persist in the near term. Therefore, it is important to
both retain and enhance existing clients and to bring on board new ones that
can generate a better quality of revenue stream wherever possible. To this
effect we expect to carry out installations for several overseas concerns that
are entering the European market and have quoted on some significant projects
with major companies as well as several trials with large retail concerns.

12 December 2011
Lance O'Neill
Chairman



STATEMENT OF COMPREHENSIVE INCOME FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2011

Unaudited Unaudited Audited

Six months Six months 12 months
Notes 30-Sep-11 30-Sep-10 31-Mar-11

£'000 £'000 £'000

Continuing Operations

Revenue 1,746 1,080 1,918

Cost of sales (1,095) (553) (957)

Gross profit 651 527 961

Administrative expenses (754) (595) (1,315)

EBITDA (103) (68) (354)

Administrative expenses - depreciation (6) (9) (20)

Operating loss (109) (77) (374)

Interest expense (42) (32) (83)

Loss before taxation (151) (109) (457)

Taxation - - -

Retained loss and total comprehensive (151) (109) (457)
loss on ordinary activities after
taxation

Loss per ordinary share

Basic 2 (0.061p) (0.065p) (0.252p)

Diluted 2 (0.061p) (0.065p) (0.252p)



CONSOLIDATED STATEMENT OF FINANCIAL POSITION AT 30 SEPTEMBER 2011

Unaudited Unaudited Audited

As at As at As at
30-Sep-11 30-Sep-10 31-Mar-11

£'000 £'000 £'000

Non-current assets

Goodwill 2,772 2,772 2,772

Property, plant and equipment 40 42 32

Total non-current assets 2,812 2,814 2,804

Current assets

Inventories 156 116 120

Trade and other receivables 759 580 523

Cash and cash equivalents 139 2 365

Total current assets 1,054 698 1,008

Current liabilities

Trade and other payables (1,246) (915) (1,008)

Financial liabilities (496) (419) (521)

Total current liabilities (1,742) (1,334) (1,529)

Net current liabilities (688) (636) (521)

Non-current liabilities

Financial liabilities (17) - (25)

Total non-current (17) - (25)
liabilities

Net assets 2,107 2,178 2,258

Equity

Share Capital 2,507 2,428 2,507

Share premium account 3,929 3,580 3,929

Other reserves 7 7 7

Retained earnings (4,336) (3,837) (4,185)

Total equity 2,107 2,178 2,258


CONSOLIDATED STATEMENT OF CHANGES IN EQUITY FOR THE SIX MONTHS ENDED 30
SEPTEMBER 2011

Share
Share Share Options Retained Total
Capital Premium Reserves Earnings Equity

£'000 £'000 £'000 £'000 £'000

Balance at 31 March 2010 2,428 3,580 7 (3,728) 2,287

Loss for the period - - - (109) (109)

Total comprehensive income for the - - - (109) (109)
period



Balance at 30 September 2010 2,428 3,580 7 (3,837) 2,178

Loss for the period - - - (348) (348)

Total comprehensive income for the - - - (348) (348)
period

Issue of share capital 79 361 - - 440

Share issue costs - (12) - - (12)



Balance at 31 March 2011 2,507 3,929 7 (4,185) 2,258

Loss for the period - - - (151) (151)

Total comprehensive income for the - - - (151) (151)
period

Balance at 30 September 2011 2,507 3,929 7 (4,336) (2,107)


CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2011

Unaudited Unaudited Audited
Six Six 12 months
months months

Note 30-Sep-11 30-Sep-10 31-Mar-11

Cash flows from operating activities £'000 £'000 £'000

Cash used in operations 3 (137) (331) (423)

Net cash used in operating activities (137) (331) (423)

Cash flows from investing activities

Purchase of property, plant and equipment (14) (3) (4)

Net cash used in investing activities (14) (3) (4)

Cash flow from financing activities

Bank loan - 48 50

Repayment of borrowings (8) - (9)

Shareholder loans - 81 325

Shareholder repayments (25) - (110)

Interest paid (42) (32) (83)

Net proceeds on issue of shares - - 440

Share issue costs - - (12)

Net cash (used in)/generated from (75) 97 601
financing activities

Net (decrease)/increase in cash and cash (226) (237) 174
equivalents

Cash and cash equivalents at beginning of 151 (23) (23)
period

Cash and cash equivalents at end of period 4 (75) (260) 151


NOTES TO THE FINANCIAL INFORMATION

1. Basis of preparation

The Group's annual financial statements are prepared in accordance with
International Financial Reporting Standards (IFRS) as adopted for use in the EU
applied in accordance with the provisions of the Companies Act 2006 applicable
to companies preparing financial statements under IFRS.

Accordingly, the consolidated half-yearly financial information in this report
has been prepared using accounting policies consistent with IFRS. IFRS is
subject to amendment and interpretation by the International Accounting
Standards Board (IASB) and the IFRS Interpretations Committee and there is an
ongoing process of review and endorsement by the European Commission. The
financial information has been prepared on the basis of IFRS that the Directors
expect to be applicable as at 31 March 2012.

This interim report does not comply with IAS 34 "Interim Financial Reporting"
(as adopted by the European Union), as permissible under the AIM Rules for
Companies.

Going Concern

The Directors have considered financial projections based upon known future
invoicing, existing contracts, pipeline of new business and the number of
opportunities it is currently working on, particularly in the retail sector. In
addition, these forecasts have been considered in light of the ongoing economic
difficulties in the UK and global economy, previous experience of the markets
in which the company operates and the seasonal nature of those markets, as well
as the likely impact of ongoing reductions to public sector spending. These
forecasts indicate that the company will generate sufficient cash resources to
meet its liabilities as they fall due over the 12 month period from the date of
this interim announcement.

As a result the directors consider that it is appropriate to draw up the
accounts on a going concern basis. Accordingly, no adjustments have been made
to reflect any write downs or provisions that would be necessary should the
Group prove not to be a going concern, including further provisions for
impairment to goodwill and investments in Group companies.

Non-statutory accounts

The financial information contained in this document does not constitute
statutory accounts within the meaning of section 434 of the Companies Act 2006
("the Act").

The statutory accounts for the year ended 31 March 2011 have been filed with
the Registrar of Companies. The report of the auditors on those statutory
accounts was unqualified, did not draw attention to any matters by way of
emphasis and did not contain a statement under section 498(2) or (3) of the
Act. The financial information for the six months ended 30 September 2011 and
30 September 2010 is not audited.

2. Loss per share

Basic loss per share is calculated by dividing the loss attributed to ordinary
shareholders of £151,000 (2010 - £109,000) by the weighted average number of
shares during the period of 247,625,327 (2010 - 167,625,327). The diluted loss
per share is identical to that used for basic loss per share as the exercise of
warrants would have the effect of reducing the loss per share and therefore is
not dilutive under International Accounting Standard 33 "Earnings per Share".

3. CASH GENERATED FROM/(USED IN) OPERATIONS

Unaudited Unaudited Audited

Six months Six months 12 months
30-Sep-11 30-Sep-10 31-Mar-11

£'000 £'000 £'000

Operating loss (109) (77) (374)

Depreciation of tangible assets 6 9 20

Increase in inventories (36) (22) (26)

Increase in payables 238 84 225

Increase in receivables (236) (325) (268)

Cash used in operations (137) (331) (423)

4. CASH AND CASH EQUIVALENTS

Unaudited Unaudited Audited
Six months Six months 12 months

30-Sep-11 30-Sep-10 31-Mar-11

£'000 £'000 £'000

Cash held at bank 139 2 365

Invoice discounting facility (214) (262) (214)

(75) (260) 151

5. Distribution of the Half-yearly Report

Copies of the Half-yearly Report will be available to the public from the
Company website, www.mediazest.com, and from the Company Secretary at the
Company's registered address at 3rd Floor, 16 Dover Street, London W1S 4LR.

MediaZest Plc
Tel: 0207 724 5680
Contact: Geoff Robertson

Nominated Adviser
Northland Capital Partners Ltd
Tel: 0207 796 8800
Contact: Gavin Burnell/Rod Venables

Broker
Hybridan LLP
Tel: 0207 947 4004
Contact: Claire Noyce/Tim Goodman/Deepak Reddy



END

30 September 2011

MediaZest plc ("MediaZest" or the "Company")

Result of AGM

The Board of the Company announces that, at the Annual General Meeting held
on 30 September 2011, all resolutions were duly passed.

Contact:

Geoff Robertson, Chief Executive Officer 020 7724 5680

MediaZest plc

Gavin Burnell / Rod Venables, Nominated Adviser 020 7796 8800

Northland Capital Partners Limited

Claire Noyce, Broker 020 7947 4350

Hybridan LLP



END

8 September 2011

MediaZest Plc

Final Results for year ended 31 March 2011

MediaZest Plc ("MediaZest" or "the Company" or "the Group"; AIM: MDZ), the
creative digital out-of-home advertising company and audio-visual integrator,
announces its final results for the year ended 31 March 2011.

Highlights

* Revenue for the year of £1,918,000 (2010: £2,572,000)

* Reduced losses after tax of £457,000 (2010: £747,000)

* Improvement in gross margins as business mix moves towards higher margin
installation, maintenance and consulting services

* Successful fund raise of £440,000 (before expenses) in March 2011 from both
existing and new shareholders

* Cash balance at 31 March of £365,000

* Appointment of James Abdool as Group Sales Director

* Markedly increased year-on-year revenues for Q1 2012

The Company has posted the Annual Report and Financial Statements for the year
ended 31 March 2011 to shareholders.

A copy of the Annual Report and Financial Statements is also available from the
Company's registered office and from the Company's web site, www.mediazest.com

Enquiries:

Geoff Robertson, 020 7724 5680

Chief Executive Officer

MediaZest Plc

Luke Cairns/Rod Venables 020 7796 8800

Nominated Adviser

Northland Capital Partners Limited

Claire Noyce, Broker 020 7947 4350

Hybridan LLP


CHAIRMAN'S STATEMENT

Introduction

The results for MediaZest plc (the "Group") for the year ended 31 March 2011
incorporate the results of its subsidiaries, all of which are wholly owned.

Results for the Year and Key Performance Indicators

Turnover for the year was £1,918,000 (2010: £2,572,000), cost of sales was £
957,000 (2010: £1,451,000) and the Group made a loss for the year, after
taxation, of £457,000 (2010: £747,000) after finance costs of £83,000 (2010: £
32,000) and having paid administrative expenses of £1,335,000 (2010: £
1,836,000).

The basic loss and diluted loss per share was 0 pence (2010: 1 pence). The
Group had cash in hand of £365,000 (2010: £37,000) at the year end, and an
invoice discounting facility over the debtors of Touch Vision of which £214,000
(2010: £60,000) was in use at 31 March 2011.

As at 31 March 2011 the Group also had loans from shareholders of £505,000
(2010: £290,000).

As at 31 March 2011, the Group has a current maximum limit of £350,000 under
the existing invoice discounting facility. The overdraft facility was converted
into a loan of £50,000 repayable over three years with the same bank on 27
August 2010.

Business overview

The Group operates, currently, two trading businesses, Touch Vision (TV) and
MediaZest Ventures (MV). TV trades as an Audio Visual supply and installation
company whilst MV operates as a `digital out of home' creative agency.

The Group's previous accounting period was fifteen months in duration (15
months to 31 March 2010) and the Group finished the year, a 12 month accounting
period ending 31 March 2011, with monthly average sales figures broadly
consistent with the prior period. The Group's full year loss for the current
year was £457,000 (2010 - loss of £747,000).

Group turnover was £1,918,000 (2010 - £2,572,000) with turnover in the latter
half of the year being less than anticipated due, in part, to disappointing
trading over the Christmas and Easter periods. However, there was an
improvement in gross profit margins as a higher proportion of installation,
maintenance and consulting services rather than equipment sales constituted the
larger part of the year's turnover in comparison to the previous period.

In the current year, the Board is targeting a return to improved turnover
levels whilst maintaining the lower cost base that has been achieved in the
last twelve months. The Board's strategy is to attain this level of turnover by
increasing the higher margin business achievable through MV whilst both
maintaining and expanding revenue through the Education Framework agreements
that TV became a participant to in November 2010.

This strategy is already showing evidence of success as turnover in Q1 for the
period ending 31 March 2012 is anticipated to be in excess of £800,000 (a 63%
increase on the comparative period), although it is evident that margins are
under more pressure this year.

The Group raised £440,000 before expenses in March 2011 from both existing and
new shareholders, the proceeds of which were to be applied towards
strengthening the sales team and to improve the working capital resources
available to the Group's operating subsidiaries.

James Abdool joined the Group as a consultant in October 2010 and became Group
Sales Director in August 2011. James is an experienced Sales Director with a
strong history of achievement in both generating revenue and introducing new
business lines. In addition, two further salesmen joined the Sales team during
the year.

MediaZest Ventures Division

MediaZest Ventures continues to provide the Group with its largest and most
attractive opportunities. However, operating in the retail sector, projects
continue to be under budget pressure although there have been positive signs of
growth with a number of large scale future projects being discussed with
clients.

During the year, MediaZest Ventures added a number of high quality new clients,
including Microsoft, British Gas, Killik and Co, and continued to work with
long term clients such as Barclays Bank, JD Sports and Footlocker.

One of the most notable developments during the year was the launch of the
MediaZest version of 3M's "virtual mannequin" concept which drew widespread
acclaim. Since its launch at Luton Airport in February 2011 MV has provided
units to various clients, including Birmingham Airport, with several other
potential orders in the pipeline. In addition, the product has been very
popular in our other markets including retail and education. Plans are in
progress to launch an interactive version as well as a point-of-sale version.

The Company also continues to be well regarded in the market place for its
digital poster projections which have been well received and as such this is a
product that the Board believes will continue to bring ongoing revenues .

In order to improve operational efficiencies and reduce administrative costs,
the MediaZest Ventures trading division has been transferred into the Touch
Vision legal entity. The brand name will be continued, trading as a division of
Touch Vision Ltd and the original limited company made dormant.

Touch Vision Ltd

The most significant business win during the year for Touch Vision was its
success in tendering for a number of specific Lots under the Inter-Regional AV
Equipment Framework Agreement ("Framework Agreement").

The Framework Agreement will run for a term of three years, 2 November 2010 to
1 November 2013, with provision for an extension of a further year. The

Framework Agreement covers four purchasing consortia:

* Higher Education Purchasing Consortium, Wales ("HEPCW") - comprising 12

members

* Value Wales - comprises 122 member institutions and includes public sector
bodies such as Companies House, the DVLA and the Food Standards Agency, as well
as a number of Educational institutions

* London Universities Purchasing Consortium ("LUPC") - comprising 68 full

member institutions

* Southern Universities Purchasing Consortium ("SUPC") - comprising 112

member institutions

The Lots which Touch Vision has successfully tendered for are as follows:

AV equipment supply only - for HEPCW, Value Wales, LUPC, SUPC. This Lot has an
estimated annual value of £2million and Touch Vision is one of five companies
to have been successful in tendering for this Lot.

AV presentation systems, equipment and services (including design, supply and
installation) - for HEPCW, Value Wales and LUPC. The HEPCW and Value Wales
element has an estimated annual value of £1million and Touch Vision is one of
eleven companies to have been successful in tendering for this Lot. The LUPC
element of this Lot has an estimated annual value of an additional £2.5million

and Touch Vision is one of nine companies to have been successful in tendering
for this section of the Lot.

Supply of projector lamps - for all four purchasing consortia. This Lot has an
estimated annual value of £2million. Touch Vision is one of four companies to
have been successful in tendering for this Lot.

The expected total annual spend by the consortia in respect of the Lots to
which Touch Vision has been appointed is £7.5million.

Although Touch Vision must win business under competitive terms of tender it
does give the company access to a large number of new potential clients.
Despite only being awarded the opportunity to participate the Framework
Agreement in November 2010, the company has already won several significant
pieces of business and developed new client relationships. In light of the
ongoing changes in funding within the Education sector, it appears that
spending for the 2011 calendar year will be subdued across these consortia but
the Board believes there will be strong ongoing opportunities generated from
this and subsequent framework agreements and that this will provide additional
revenue opportunities in the coming years.

Outside of these agreements, the Education division continues to add clients
including the Licensed Victuallers School in Ascot and Burton College in the
Midlands, and performs ongoing work with long term clients such as London South
Bank University.

Touch Vision's retail customers such as HMV and Kuoni continue to be a
significant part of the business. These clients continue to provide excellent
revenue for the company.

The more traditional Corporate market is also providing opportunities again for
the company as clients look for better value solutions and reliable systems
providers. This has helped the company win a number of new clients including
ETC Venues in the conference facilities market.

Outlook

As noted above, the Company has increased its resource in its sales and
marketing function and this investment is leading to new business
opportunities.

Work in progress during the year to date includes several significant projects.
Firstly, Touch Vision has completed an installation programme for a large UK
University in excess of £300,000 which was outside of the Framework Agreement
noted above. Second, the Framework Agreement has also provided some ongoing
equipment only purchases which, despite being of a lower margin than our
installation work, have enabled TV to buy more effectively and begin developing
relationships with new clients.

In the corporate market, MV's hologram solutions have been used by blue chip
companies including Astra Zeneca and British Telecom. We have also undertaken a
branch refurbishment programme with the West Bromwich Building Society which is
currently ongoing.

Looking forward, the Group's businesses operate in markets that are affected by
both the level of retail customer demand and government/local authority
expenditure. Whilst customer demand and interest is good, presently, the Board
recognises that a re-emergence of an economic slowdown may have an effect on
future trading performance.

However, the Board believes that the Group is now more versatile and nimble
enough to deal with changes in the business environment on a more timely basis
and as a consequence give itself a greater ability to cope with events beyond
its control, than in previous years. Notwithstanding, the Board is committed to
moving the Group forward to profitability and believes that the strategy that
it has implemented is achievable.

Lance O'Neill

Chairman

MediaZest plc

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 MARCH 2011

Year ended 15 months
ended

31 March 2011 31 March 2010

£'000 £'000

Continuing operations

Revenue 1,918 2,572

Cost of sales (957) (1,451)

Gross profit 961 1,121

Administrative expenses (1,335) (1,836)

Operating loss (374) (715)

Finance costs (83) (32)

Loss on ordinary activities (457) (747)
before taxation

Tax on loss on ordinary - -
activities

Loss and total comprehensive loss on (457) (747)
ordinary activities after taxation

Loss per ordinary 0.1p share

Basic (0.002p) (0.010p)

Diluted (0.002p) (0.010p)

MediaZest plc

CONSOLIDATED STATEMENT OF FINANCIAL POSITION

AS AT 31 MARCH 2011

31 March 2011 31 March 2010

£'000 £'000

Non-current assets

Goodwill 2,772 2,772

Property, plant and 32 48
equipment

Total non-current assets 2,804 2,820

Current assets

Inventories 120 94

Trade and other 523 255
receivables

Cash and cash equivalents 365 37

Total current assets 1,008 386

Current liabilities

Trade and other payables (1,008) (629)

Financial liabilities (521) (290)

Total current liabilities (1,529) (919)



Net current liabilities (521) (533)

Non-current liabilities

Financial liabilities (25) -

Total non-current (25) -
liabilities

Net assets 2,258 2,287

Equity

Share capital 2,507 2,428

Share premium account 3,929 3,580

Share options reserve 7 7

Retained earnings (4,185) (3,728)

Total equity 2,258 2,287

MediaZest plc

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 MARCH 2011

Share Share Share Retained Total
Options

Capital Premium Reserves Earnings Equity

£'000 £'000 £'000 £'000 £'000

Balance at 1 January 2009 2,283 3,211 7 (2,981) 2,520

Loss for the period - - - (747) (747)

Total comprehensive income - - - (747) (747)
for the year

Issue of share capital 145 379 - - 524

Share issue costs - (10) - - (10)

Balance at 31 March 2010 2,428 3,580 7 (3,728) 2,287

Loss for the year - - - (457) (457)

Total comprehensive income - - - (457) (457)
for the year

Issue of share capital 79 361 - - 440

Issue costs - (12) - - (12)

Balance at 31 March 2011 2,507 3,929 7 (4,185) 2,258

MediaZest plc

CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2011

2011 2010

£'000 £'000

Net cash used in operating activities (423) (667)

Cash flows used in investing activities

Purchase of property, plant and equipment (4) (10)

Net cash used in investing activities (4) (10)

Cash flow (used in)/from financing
activities

Bank loan 50 -

Repayment of borrowings (9) -

Shareholder loans 325 290

Shareholder repayments (110) -

Interest paid (83) (32)

Cash proceeds from invoice discounter - 90

Proceeds of share issue 440 434

Share issue costs (12) (10)

Net cash generated from financing 601 772
activities

Net increase in cash and cash equivalents 174 95



Cash and cash equivalents at beginning of (23) (118)
year

Cash and cash equivalents at end of the 151 (23)
year





NOTES

1. Basis of Preparation

The financial information set out above does not constitute the Company's
statutory accounts for the 15 month period ended 31 March 2010 or the year
ended 31 March 2011 within the meaning of section 434 of the Companies Act
2006. Statutory accounts for the 15 month period ended 31 March 2010 have been
delivered to the Registrar of Companies and those for the year ended 31 March
2011 will be delivered in due course.

The auditors have reported on the accounts for the 15 month period ended 31
March 2010; their report was unqualified and did not include references to any
matters to which the auditors drew attention by way of emphasis without
qualifying their report, and did not contain a statement under section 498(2)
or (3) of the Companies Act 2006.

The auditors have reported on the statutory accounts for the year ended 31
March 2011: their report was unqualified, and did not include references to any
matters to which the auditors drew attention by way of emphasis without
qualifying their report, and did not contain a statement under section 498 (2)
or (3) of the Companies Act 2006.

The Company's statutory accounts for the year ended 31 March 2011 have been
prepared in accordance with International Financial Reporting Standards
("IFRS") as adopted by the European Union ("EU") and in accordance with the
Group's accounting policies as set out in the 2010 statutory accounts.

The financial statements contained in the statutory accounts have been prepared
under the historic cost convention unless otherwise stated.

2. Going concern

The Directors have carefully considered the going concern assumption on the
basis of financial projections and the factors outlined below.

The Directors have considered financial projections based upon known future
invoicing, existing contracts, pipeline of new business and the increasing
number of opportunities it is currently working on, particularly in the retail
sector. In addition, these forecasts have been considered in light of the
ongoing economic difficulties in the UK and global economy, previous experience
of the markets in which the Company operates and the seasonal nature of those
markets, as well as the likely impact of ongoing reductions to public sector
spending. These forecasts indicate that the Company will generate sufficient
cash resources to meet its liabilities as they fall due over the 12 month
period from the date of the approval of the accounts.

The Directors have obtained letters of support from shareholders who have
provided loans to the Group totalling £480,000 at 31 March 2011, stating that
they will not call for repayment of the loans within the next 12 months or, if
earlier, until the Group has sufficient funds to do so.

As a result, the Directors consider that it is appropriate to draw up the
accounts on a going concern basis. Accordingly, no adjustments have been made
to reflect any write downs or provisions that would be necessary should the
Group prove not to be a going concern, including further provisions for
impairment to goodwill and investments in Group companies.

3. Loss per Ordinary Share

2011 2010

£'000 £'000

Losses

Losses for the purposes of basic and diluted 457 747
earnings per share being net loss attributable to
equity shareholders

Number of shares

Weighted average number of ordinary shares for the 181,068,853 69,917,362
purposes of basic earnings per share

Number of dilutive shares under option or warrant - -

Weighted average number of ordinary shares for the 181,068,853 69,917,362
purposes of dilutive loss per share

Basic loss per share is calculated by dividing the loss attributed to ordinary
shareholders of £457,000 (2010: £747,000) by the weighted average number of
shares during the year of 181,068,853 (2010: 69,917,362). The diluted loss per
share is identical to that used for basic loss per share as the exercise of
warrants and options would have the effect of reducing the loss per share and
therefore is not dilutive.

4. Posting of the Annual Report and Financial Statements

The Report and Accounts for the year ended 31 March 2011 have been posted to
shareholders together with a notice convening the Annual General Meeting for 30
September 2010 to approve the Annual Report and Accounts. The Report and
Accounts will also be available on the Company's web site: www.mediazest.com.

Notes to Editors:

About MediaZest

MediaZest is a creative media agency that specialises in providing innovative
out-of-home marketing solutions to leading brand owners and media agencies. The
group supplies an integrated service from content creation and system design to
installation, technical support and maintenance. MediaZest has its headquarters
in London, whilst Touch Vision, its design and engineering division, is based
in Farnham in Surrey. Its customer base includes Astra Zeneca, Chivas, HMV,
Fiat, Microsoft, Nike, O2, Shell and Vodafone. MediaZest was admitted to
London's AIM market in February 2005. For more information, please visit
www.mediazest.com



END

17 August 2011

MediaZest Plc

Trading and business update

Appointment of new Sales Director

MediaZest Plc ("MediaZest" or "the Group"; AIM: MDZ), the creative digital
out-of-home advertising company and audio-visual integrator, provides the
following trading update.

Group trading results were below previous expectations for the year ending 31
March 2011 as a consequence of the sales performance in the second half of the
year, prior to the fundraising at the end of the 4th quarter of that financial
year. However, Group revenues have improved since the start of the new
financial year in April 2011 with turnover of £800,000 for the quarter ended
June 30 2011. This improvement in turnover is expected to carry through into
the quarter ending 30 September 2011 The Board is pleased to announce £200,000
worth of new and additional work with a long standing customer in the form of a
roll out of bespoke audio technology into over 100 retail stores. In addition,
the Group has secured a contract worth over £120,000 with a new client, the
West Bromwich Building Society. Furthermore, the Group continues to work with a
number of high profile clients including O2, Barclays Bank, Kuoni and Fiat as
well as gaining business from new clients British Gas, FiloFax and Astra
Zeneca.

Further to the announcement made by MediaZest on 2 March 2011 relating to a
proposed conversion of £90,000 debt to equity at 0.55pence per new ordinary
share, the Board plan to seek the necessary authorities in combination with the
Annual General Meeting, to be held in September 2011.

The Group announced on 2 March 2011 that it intended to finance growth of its
operations from the proceeds of its capital raising and is, therefore, pleased
to announce the appointment of James Abdool as an executive Director of
MediaZest and as Sales Director with immediate effect. Prior to his
appointment, James has been working with the Group as a consultant for the last
few months.

James has been actively involved in Sales and Marketing for a number of media
related companies since 1994. He most recently worked with PlayNetwork Inc.
where he was instrumental in setting up their international operations
throughout Europe, the Middle East and Africa (EMEA). Prior to this, he worked
at EnQii, the global digital signage and display network company, heading up
its EMEA operations and Imagesound Plc as Retail Sales Director. Prior to his
involvement in these companies, he developed and subsequently completed the
sale of his family's digital out of home audio business.

Commenting on James' appointment, Geoff Robertson, MediaZest's CEO, said "James
is an experienced company director and his appointment will broaden the range
of skills and expertise available to the Board. Furthermore, the Board views
his appointment as an important step in achieving its strategy of improving
both the quality of the Group's revenues and volume of sales".

Further Information

James Christopher Abdool, aged 40, is beneficially interested in 1,818,182
ordinary shares in the Group, representing 0.73 per cent. of the Company's
issued ordinary share capital. James Abdool has held the following
directorships or partnerships within the last five years.

Current Past

MediaZest plc Playnetwork Ltd

Copthorne School Trust Ltd TSC Music Systems Limited

Copthorne School Services Ltd

The Evelina Family Trust


There are no further disclosures to be made in accordance with schedule 2 (g)
of the AIM Rules.

Notes to Editors:

About MediaZest

MediaZest is a creative media agency that specialises in providing innovative
out-of-home marketing solutions to leading brand owners and media agencies. The
group supplies an integrated service from content creation and system design to
installation, technical support and maintenance. MediaZest has its headquarters
in London, whilst Touch Vision, its design and engineering division, is based
in Farnham in Surrey. Its customer base includes Adidas, Boots, Chivas, Diesel,
L'Oreal, Motorola, Nintendo, Nokia, O2, Shell and Vodafone. MediaZest was
admitted to London's AIM market in February 2005. For more information, please
visit www.mediazest.com.

Enquiries:

Geoff Robertson, 020 7724 5680

Chief Executive Officer

MediaZest Plc

Gavin Burnell / Rod Venables 020 7796 8800

Nominated Adviser

Northland Capital Partners Limited

Claire Noyce, Broker 020 7947 4350

Hybridan LLP




END