RNS Number:6185N
SRS Technology Group PLC
16 July 2003


For Immediate Release                                             16 July 2003


               SRS Technology Group Plc (the "Company"or"SRS")

     Estimated Profit and Loss Account for the year ended 30 June 2003
                and Estimated Net Assets as at 30 June 2003


The Directors wish to announce an estimated loss before tax  for the year to 30
June 2003 of approximately #1.59 million compared with a loss before tax of
#1.59 million for the same period last year.

Although sales are substantially ahead of last year both in the UK and
internationally, their growth has been slower than anticipated at the time of
the Company's admission to AIM.  Nevertheless the Directors believe in the
potential of the Company's products and the loss reflects the continued
investment in new product development.  The existing product range will be
complemented by the launch, later this year, of SRS Lite and Intellec.

SRS Lite will address the needs of the light use market within the healthcare
sector and facilitate access into the elderly consumer market, whilst Intellec,
an upgrade of the SRS 100, will incorporate 'voice announcement'.

To enable the Company to exploit the potential of these new products, further
working capital is required and the Company's  brokers, Hoodless Brennan, are in
an advanced stage of arranging a placing.

The early release of the estimated loss figure set out above will enable certain
members of the board to participate in the proposed placing to the extent of
approximately #95,000, the details of which will be sent to shareholders
shortly.  The placing will be subject to shareholders approval at a duly
convened extraordinary general meeting.

Set out below is the Directors' estimated profit and loss account for the year
ended 30 June 2003 and estimated net assets at that date.



Estimated Profit and Loss Account
Year Ended 30 June
                                                                                   Actual
                                                             Estimated            audited   
                                                                  2003               2002
                                                                 #'000              #'000

Turnover                                                           609                274
Cost of sales                                                    (296)              (153)

Gross profit                                                       313                121
Sales and administration costs                                 (1,941)            (1,811)

Operating loss                                                 (1,628)            (1,690)
Net interest                                                        35                 95

Loss on ordinary activities before taxation                    (1,593)            (1,595)



Estimated Net Assets
At 30 June
                                                                 #'000              #'000

Fixed assets                                                       184                187

Current assets
Cash at bank and in hand                                           306              2,079
Other current assets                                               471                321
                                                                   777              2,400
Creditors: amounts falling due within one year                   (349)              (415)
Net current assets                                                 428              1,985
Creditors: amounts falling due after more than one year           (10)               (27)
Net assets                                                         602              2,145





Basis of Preparation

The estimated profit and loss account for the year ended 30 June 2003 and the
estimated net assets at 30 June 2003 have been prepared on a basis consistent
with the accounting policies normally adopted by the Group and have been made by
the directors after due and careful enquiry.  The estimates have been based on
the unaudited interim results of the Group for the six months ended 31 December
2002, and the unaudited management accounts of the Group for the six months
ended 30 June 2003.



For further information, please contact:

Contact:         Graeme Thom (Grant Thornton)                   0870 991 2790

Contact:         Tim Anderson/Rebecca Dietrich                  020 7466 5000
                 (Buchanan Communications)




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