RNS Number:5034K
VTR PLC
30 April 2003


                                    VTR plc
                         64 Dean Street, London W1D 4QQ
                 Tel: (020) 7437 0026     Fax: (020) 7439 2443
                                 www.vtrplc.com


                 28 February 2003 Interim Results Announcement


VTR plc announces its interim results for the six months to 28 February 2003.

*        Group profit before tax of #54,000

*        EPS 0.33p

*        D-Cinema fully operational from April 2003

*        K>Post operating ahead of expectations

*        blue post production voted Best Post Production Facility in 2003

*        Operating companies reporting modest improvement in current trading


Making the announcement Chairman Philip Lovegrove said:

"All our companies are reporting a modest improvement in current trading but
conditions remain tough and it is difficult to forecast whether this improvement
will continue. Nevertheless we have responded to the market conditions and your
Board continues to believe that the Group is well placed to take full advantage
of the upturn in economic conditions when it comes."

For further information please contact:

John Banks, Managing Director, VTR plc           020-7437-0026

Martin Lampshire, Charles Stanley                020-7953-2000

Lawrence Dore, Mantra Public Relations           020-7072-2300

Ryszard Bublik, Mantra Public Relations          020-7072-2300


CHAIRMAN'S STATEMENT

In the Trading Statement sent to shareholders on 24 February 2003, I warned
that, given the continuing depressed state of the advertising and broadcast
industries, the results for the half year to 28 February 2003 were likely to be
at or around break even. In the event I am able to report that the Group made a
profit before tax of #53,881 for the period.  The comparative profit before tax
in the previous year was #1,512,744 before an exceptional charge of #4,073,051,
which resulted in a loss of #2,560,307 for the period.


The Group's financial year started encouragingly but turnover in the last few
months has been disappointing.  To offset this, action has been taken to reduce
overheads with a number of staff being released and capital expenditure
deferred.  The costs incurred have been charged against these results.


It is still very difficult to forecast what will happen in the media industry,
and thus to the VTR Group, in the second half of the current financial year.
The Board has therefore decided it would not be prudent to declare an interim
dividend. The payment of future dividends will be subject to results and the
outlook for the media sector as a whole.


blue post production turned in the best performance of the Group's post
production subsidiaries increasing both turnover and profits in very difficult
market conditions.  I am proud to be able to report the company was voted the
Best Post Production Facility by Broadcast Magazine for the second time in four
years.


Both Video Tape Recording and The Machine Room saw reduced turnover and profits
but I am pleased to report that the delayed opening of VTR's D-Cinema division
has now taken place, with the facility becoming fully operational in April.  The
hive animation traded profitably in line with last year while K