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AIM-Listed Amino Technologies soars into profit

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AIM-listed Amino Technologies soars into profit

Cambridge, UK, 27 July 2004: Amino Technologies PLC, the Cambridge-based broadband network software and systems manufacturer, which listed on the London Stock Exchange AIM market in early June, has reported a first-half profit before tax and exceptional items of £0.84 million up from a loss of £1.57 million for the same period last year.

The company is primarily involved in the design and manufacture of miniature set-top boxes (STBs) for the Internet Protocol Television (IPTV) market which is starting to evolve very rapidly. IPTV allows telephone operators ('telcos') to use their existing copper lines to provide multiple television channels, true video-on-demand and CD-quality music, alongside voice and Internet services. For the subscriber, IPTV offers high quality viewing and full interactivity while the service providers benefit from being able to offer highly targeted, local advertising opportunities.

Amino's turnover for the half-year ending 30th June 2004 increased to £7.42 million compared with £0.15 million for the same period last year. The company shipped over 91,000 of its STBs during the period, up from under 1,000.

Grant Masom, Amino's Chairman, commented, "We are absolutely delighted by these results. In the past 6 months the IPTV market has started to evolve at great speed and early adopters are now rolling out systems in America and the Far East and we are starting to see deployments in Europe. Our success is evidenced by our extensive range of partners, many of which are the best-known names in the telecommunications and television equipment industry. They have introduced us into a wide range of trial and active roll-out opportunities and we are very grateful for their support."

Amino has played a key role in the development of the IPTV market and recognised two years ago that its take up would depend on how quickly the industry could deliver the necessary equipment at a competitive cost. The subscriber equipment, including the STB, is a large part of this cost, and Amino has been an aggressive market leader in driving it down to the levels needed to ensure success.

In addition to selling systems which operate across broadband networks Amino is also having considerable success in delivering IPTV technology which operates on high-speed private networks. In particular, it is currently involved in a complete system deployment known as TALIA for a major UK hotel chain.

Currently, over 360 companies worldwide are evaluating Amino products, up from 147 in the first half of last year and the number of customers involved in volume roll-outs, that is in excess of 1,000 units, increased from two to 20.

Bob Giddy, Amino's CEO, commented, "Once our products are 'designed in' as part of a field trial, the complexities of IPTV mean that there are very significant barriers to entry for our competitors. The future revenue streams resulting from the design-in are a direct result of the telco's commercial success with the new service. This is one reason why our recent revenue growth has been very significant."

Amino offers its customers a flexible business model with direct product supply, own label manufacturing and a range of licensing options. Grant Masom stated, "We believe this flexibility will enable us to translate our early leadership into a significant role in the emerging mass market. We also continue to invest heavily in our underlying technology, with half of our personnel being focussed on research and development."

Summary highlights for half year ending 30th June 2004
(Similar period last year in brackets)
• Turnover - £7.42 million (£0.15 million)
• Profit before tax and exceptional items - £0.84 million (loss of £1.57 million)
• 91,765 units shipped (859)
• Companies evaluating products - 366 (147)
• Companies conducting field trials of 100 to 1000 units - 30
• Companies in volume roll-out of 1000 or more units - 20
• Customers in 50 countries across Europe, USA and the Far East

About Amino
Amino Communications (www.aminocom.com) is a designer and supplier of electronic systems and consultancy, specialising in products for digital broadcast and on-demand TV, IP-TV (telco triple-play applications), and in-home multimedia distribution.

The Amino range of small, low cost, high functionality set-top boxes and gateway products is designed for consumer applications in telecom, satellite and digital terrestrial broadcast markets, as well as on-demand systems for hotels and hospitality markets, healthcare, retail and education. Amino also provides systems consultancy, and partners with world-leading companies in content aggregation, middleware, conditional access, and head-end systems.

Amino Communications is part of Amino Technologies PLC. listed on the London Stock Exchange AIM, symbol AMO. Amino is based near Cambridge, UK, and has offices in Atlanta Georgia.

For further information please contact: Geoff Boyes/Jenna Keighley, EML, The Albany Boathouse, Lower Ham Road, Kingston, Surrey, KT2 5BB. +44 (0)20 8408 8000, amino@eml.com

David Cormie, Amino Communications Buckingway Business Park, Anderson Road, Swavesey, Cambridge, CB4 5UQ +44 (0)1954 234100, https://www.aminocom.com

EML3940 - 27/07/2004