Highlights refer to the period of the six months ended 30 September 2009.

• Group revenues up 20% to £26.8m (H1 2008: £22.3m)
• Pharmacy revenues up 25% to £15.2m (H1 2008: £12.1m) with a gross margin of 30% (H1 2008: 27%)¹
• Group trading profit of £1.7m (H1 2008: £1.9m loss)
• Net assets of £178.2m (31 March 2009: £173.7m), equivalent to 65.4p (31 March 2009: 66.7p) per Share²
• Investment portfolio of £306.9m (31 March 2009: £278.9m) reflecting a net initial yield of 6.27% (31 March 2009: 6.27%)
• 23 rent reviews settled (H1 2008: 18) resulting in average annualised rental growth increase of 3.4% (H1 2008: 6.1%)
• Rent roll of £22.3m⁴
• Net debt drawn amounting to £224m
• Debt facilities in place providing total facilities of £272m
• £21.5m repaid to National Australia Bank with further £8.5m debt reduction on track to be repaid in advance of year end deadline
• £25.2m cash and cash equivalents

• 117 investment properties at 30 September 2009 and three investment properties under construction on site
• 32 pharmacies trading^5,6
• 21 additional pharmacy contracts granted, four of which are being disposed of and are currently in solicitors’ hands⁵
• 30 GPCos formed covering a population of 3.1 million patients⁵
• 68 NHS services won or at preferred bidder stage with an estimated aggregate mature run rate of £27m revenue per annum⁵
• 48 live NHS services^5,7

^{1 Excludes 50% share of revenue derived from pharmacies owned in joint venture with GP Care.
2 Adjusted diluted net asset value per Ordinary Share (excluding the notional mark to market value of the Company’s interest rate swap and own shares held).
3 Excludes investment properties under construction.
4 Including the rental value of own premises.
5 As at 23 November 2009.
6 Includes six pharmacies which form part of the joint venture with GP Care.
7 Excludes 10 private services and contracts which are yet to be operational or are at preferred bidder stage.}