6pm Holdings plc - Interim Directors’ Statement

On 11 November, 6pm Holdings plc published its Interim Directors’ Statement explaining that the Company is now beginning to see small signs of change from the tough market conditions experienced in recent months. This follows an appreciable increase in interest for 6pm’s own products in the UK Health sector and other smaller contracts in other sectors especially in Malta. The Directors expressed their confidence that these changes are a prelude to improving trading conditions in 2010. Moreover, the Directors stated that Sterling has marginally strengthened against the euro this year but acknowledged the fact that it is still far from former exchange rates and will not recover until beyond 2010.

The Directors explained that during the second half of the current financial year, 6pm strengthened its relationships with both big consultancy organisations and major global software vendors. Furthermore the Directors stated that their vertical alignment strategy with an emphasis on the public sector and the creation of its own intellectual property has been vindicated. In fact, 6pm now has a suite of products which fit the requirements of the UK Health sector. Moreover the Company has experienced increased demand for its Agile solution which is an effective tool to accelerate IT projects with minimal risk and cost.

In conclusion, the Directors gave a cautiously optimistic outlook for 2010 and 2011 despite the uncertain environment.

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