ITE Group Plc, an international exhibitions specialist, is pleased to announce its Interim Results for the six months ended 31 March 2000.

Key points:

· Turnover of £13.8m

· Profit before amortisation of goodwill, restructuring costs and tax up 44% to £3.75m

· Headline diluted earnings per share up 30% to 1.3p

· Interim dividend of 0.5p per share

· £41 million of acquisitions completed in the period

· 115 trades exhibitions and conferences organised in the period

· Continuation of acquisition programme in Central Asia, the Far East, Central and Eastern Europe and Russia and the CIS.

Lawrie Lewis, Chairman, commented :

"ITE has an exciting future. We have established ourselves as the leading exhibition organiser in a number of emerging markets and our shows are benefiting from considerable cross-selling opportunities. The Board is confident that the full year will show continued progress and acquisitions and joint ventures completed this year will give us a unique geographical network to exploit significant growth for all our exhibitions."

ITE Group Plc	Phone: +44 20 7596 5000
Lawrie Lewis
Buchanan Communications	Phone: +44 20 7466 5000
Richard Oldworth / Isabel Petre

CHAIRMAN'S STATEMENT

I am pleased to report that the Group has continued its growth record in earnings for the interim period ended 31 March 2000. Turnover directly attributable to the Group was £13.782 million (1999: £13.425 million) and profit before tax, goodwill, minority interests and restructuring costs was £3.755 million (1999: £2.608 million). Net assets of the group have increased to £28.74 million (1999: £13.125 million) due to the capitalisation of goodwill on acquisitions as well as the issue of new equity as consideration for acquisitions.

ACQUISITIONS

Our strategy of growth by acquisitions has continued in the current financial year and to date we have concluded the following acquisitions and joint ventures:

The Group now organises over 350 trade exhibitions per year with net exhibition space sold annualised at over 500,000 sq.ms. Our focus continues to be in emerging markets with our largest markets being in Russia and Turkey. We have also just secured a five year agreement until December 2005 for all our major products to be held at the Expocentre in Moscow, Russia's premier exhibition venue.

The acquisition of the E-Business show in the UK has given us the opportunity to replicate this show in our other markets and we have already announced E-Business exhibitions and conferences in Russia, Kazakhstan, Turkey, Egypt and India.

INTERNET ACTIVITIES

We are progressing with our plan to launch a number of business to business vertical portal sites through our subsidiary b4bportals.com limited. These sites, projected to go live by the end of August, will create tightly focused online trade communities, where buyers and sellers can engage in e-commerce and auctions, communicate with each other and access information about their sector. These portals will operate in geographical markets where ITE currently has a physical presence, leveraging off its extensive databases, both locally and internationally, of exhibitors and visitors.

A final decision has not yet been made but the Board is currently exploring the possibility of demerging b4bportals.com into a separate public company.

DIVIDENDS

An interim dividend of 0.5p has been declared by the Board, representing an increase of 4.2% over the interim dividend declared in 1999. This will be payable on 10 July 2000 to shareholders on the register on 5 July 2000. Shareholders can elect to take their dividend either in cash or in new shares in ITE.

MANAGEMENT

Since the year end there have been certain changes to the holding company Board. Darra Comyn has resigned as the Financial Director and his role has been taken over by Ian Tomkins, who has been Darra's deputy for over 18 months. Darra will remain as a consultant for a further six months, which will ensure a seamless transition.

I have taken over as Chief Executive from Steve Monnington, who is going to return to his original acquisition broking business but he will remain associated with the Group looking for new acquisition opportunities.

ITE is a fast moving company operating in a number of different geographical markets with a network of strong local partners, who still retain an equity interest in their local operations. Our management structure reflects these characteristics with a recently formed operational committee in London focusing on international sales in the countries where our local partners operate together with strict financial controls and reporting. The unique strength of ITE is in its strong local presence, nurtured through a combination of decentralised management and centralised controls.

OUTLOOK

ITE has an exciting future. We have established ourselves as the leading exhibition organiser in a number of emerging markets and our shows are benefiting from considerable cross-selling opportunities. The Russian economy is becoming more stable and, with the recent acquisitions of the leading technology and food shows in Moscow, we are well positioned to benefit from the expected upturn. E-Business and B2B activities are a major focus for ITE both in terms of physical exhibitions and online activities.

The Board is confident that the full year will show continued progress and acquisitions and joint ventures completed this year will give us a unique geographical network to exploit significant growth for all our exhibitions.

Lawrie Lewis
Chairman

		31 March	31 March	30 September
		2000	1999	1999
	Notes	Unaudited	Unaudited	Audited
		£'000	£'000	£'000
Fixed assets		.	.	.
Goodwill		19,048	3,743	7,196
Tangible assets		1,726	2,662	1,973
Associates		28,614	-	1,904
Other investments	.	3,265	2,871	1,041
		52,653	9,276	12,114
Current assets
Debtors		11,291	12,075	12,658
Cash at bank and in hand		7,490	20,086	19,493
Current liabilities
Creditors: amounts falling due within one year	8	(38,124)	(27,807)	(27,333)
Net current (liabilities) / assets		(19,343)	4,354	4,818
Total assets less current liabilities		33,310	13,630	16,932
Creditors: amounts falling due after more than one year		(4,570)	(505)	(1,750)
Net assets		28,740	13,125	15,182
Capital and reserves
Called up share capital		1,887	1,628	1,682
Share premium account		23,354	7,328	9,978
Other reserves		2,238	4,943	2,983
Profit and loss account		724	(1,294)	48
Equity shareholders' funds		28,203	12,605	14,691
Minority interests		537	520	491
Total capital employed		28,740	13,125	15,182

		Six months to 31 March	Six months to 31 March	Year Ended 30 September
		2000	1999	1999
	Notes	Unaudited	Unaudited	Audited
		£'000	£'000	£'000
Operating profit		2,191	1,871	8,904
Depreciation charges		229	146	355
Profit on sale of tangible fixed assets		(6)	(152)	(227)
Profit on sale of own shares		-	-	(332)
Amortisation of goodwill		708	53	218
Decrease in debtors		1,021	4,753	7,400
Decrease in creditors		(1,485)	(2,415)	(10,933)
Net cash inflow from operating activities		2,658	4,256	5,385
Returns on investments and servicing of finance		312	537	946
Taxation		(604)	(80)	(1,880)
Capital expenditure and financial investment		(711)	1,593	2,753
Acquisitions and disposals		(12,644)	(2,702)	(4,723)
Equity dividends paid		(1,309)	(931)	(1,461)
Cash (outflow) / inflow before management of liquid resources & financing		(12,298)	2,673	1,020
Management of liquid resources		12,878	(609)	4,194
Financing		295	(1,018)	(567)
Increase in cash in the period		875	1,046	4,647

NOTES

1. The six months accounts have been prepared on the historical cost basis, are unaudited and do not constitute statutory accounts within the meaning of Section 240 of the Companies Act 1985.

2. The results for the year ended 30 September 1999 have been extracted from the statutory accounts which have been reported on by the Group's auditors and have been delivered to the Registrar of Companies. The auditors' report was unqualified and did not contain any statement under Section 237 (2) or (3) of the Companies Act 1985.

3. Operating profit before amortisation of goodwill has been calculated after charging restructuring, redundancy and compensation for loss of office amounts of £264,000 for the six month period to 31 March 2000 (Six months to 31 March 1999: £147,000, Year ended 30 September 1999: £427,000).

4. Exceptional amounts written off investments in the year ended 30 September 1999 relates to the full provision for the company's investment in Philip Johnstone Group Limited. This investment arose from the former activities of the Group and has no relationship to the Group's current business.

5. Headline diluted earnings per share has been based on the profit for the financial year adjusted for amortisation of goodwill and exceptional items, divided by 179,588,000 ordinary shares allowing for the effect of all dilutive potential shares.

6. Basic earnings per share has been based on the profit for the financial year divided by the weighted average of the number of shares in issue being 172,909,000.

7. Diluted earnings per share has been based on the profit for the financial year divided by 179,588,000 ordinary shares allowing for the effect of all dilutive potential shares.

8. Creditors: amounts falling due within one year include amounts representing deferred income of £16,920,000 (31 March 1999: £19,241,000, Year ended 30 September 1999: £15,585,000).

9. Copies of this document are being sent to Shareholders. Further copies are available from the Company's registered office.

INDEPENDENT REVIEW REPORT TO ITE GROUP Plc

Introduction We have been instructed by the company to review the financial information set out on pages 4 to 7 and we have read the other information contained in the interim report and considered whether it contains any apparent misstatements or material inconsistencies with the financial information.

Directors responsibilities
The interim report, including the financial information contained therein, is the responsibility of, and has been approved by, the directors. The directors are responsible for preparing the interim report in accordance with the Listing Rules of the Financial Services Authority and applicable United Kingdom accounting standards. The Listing Rules require that the accounting policies and presentation applied to the interim figures should be consistent with those applied in preparing the preceding annual accounts except where any changes, and the reasons for them, are disclosed.

Review work performed

We conducted our review in accordance with guidance contained in Bulletin 1999/4 issued in the United Kingdom by the Auditing Practices Board and with our profession's ethical guidance. A review consists principally of making enquiries of group management and applying analytical procedures to the financial information and underlying financial data and, based thereon, assessing whether the accounting policies and presentation have been consistently applied unless otherwise disclosed. A review excludes audit procedures such as tests of controls and verification of assets, liabilities and transactions. It is substantially less in scope than an audit performed inaccordance with Auditing Standards and therefore provides a lower level of assurance than an audit. Accordingly we do not express an audit opinion on the financial information.

Review conclusion

On the basis of our review we are not aware of any material modifications that should be made to the financial information as presented for the six months ended 31 March 2000.

Arthur Andersen
Chartered Accountants

20 Old Bailey
London
EC4M 7AN