Financial Highlights · 57% growth in revenue to £1.7m (H1 2009: £1.1m)
o Annualised run rate revenue grew to £5million in December 2009, a 66% increase on June 2009
o We see this growth trend continuing in the second half of the financial year.
o Approximately 1.75 million registered customers today, more than one million up from 30 June 2009 and growing by over 150,000 per month
o Improved mix of revenue, with transactional fees reflecting almost 50% of H1 revenues · Operating loss, before share based payments and exceptional item*, of £6.9m (H1 2009: £6.0m) reflecting:
o Increased investment following the acquisition of the remaining 50% of Monilink (£6.0m operating loss excluding the impact of Monilink acquisition)
o Continued investment in geographical expansion and product development
· Financial position benefits from significantly strengthened cash resources:
o Cash balance of £9.5m on 31 December 2009
o Up to £15.8m additional funding in place post period end from a combination of new and existing investors:

£7.4m subscription completed in January 2010

£8.4m conditional subscription and warrant anticipated in first quarter 2010 Strategy Update
· Technology

Over 240 financial institutions now signed up to our Mobile Money Manager platform
· Live operations

Position consolidated in UK by taking 100% ownership of our rapidly growing former joint venture, Monilink

Strong growth in US business through partnership with FIS, following its acquisition of Metavante

New Visa services well into development stage
· Investments

Agreement with Travelex to provide services to 1.75m Cash Passport cardholders

Heads of Terms announced for Asia Pacific joint venture with First Eastern

Progressing with joint venture agreements in India and Africa

Developing significant new retailer proposition with The Carphone Warehouse
Outlook
· Strong growth in registered customers expectedwth in registered customers expecte registered customers expectedwth in registered customers expected to continue throughout the year as new services are launched and new markets come on stream
· Continuing increase in revenue driven by recurring fees from value added services
· UK Operations on track to reach month-on-month cash breakeven this year
· Continued investment in joint ventures and new initiatives to maximise growth in shareholder value
*Exceptional item relates to a one-off £1.0m profit from accounting treatment of Monilink acquisition
Alastair Lukies, Chief Executive Officer, Monitise, said: "Mobile money has now taken off; it is no longer just an opportunity for the future. As of today 1.75 million people have registered for our services and we expect the rapid growth in customer registrations to continue.
"Our customers are moving up the value chain: using more of our services, more often as they upgrade to even more valued propositions. The launch of our portfolio of smartphone apps has taken the banking market by storm.
"I am equally excited by our international growth strategy and our excellent relationship with Visa. We look forward to swift completion of our ground breaking joint venture to develop the Asia Pacific market with First Eastern. We shall have true global reach in 2010.
"Add to this the enormous potential of our development of new retailer propositions with The Carphone Warehouse, enabling a wide range of mobile shopping services, and the geographical and service expansion arms of our strategy are in great shape."
Duncan McIntyre, Chairman, Monitise, said: "This has been an exhilarating six months for the Group. We are well past the tipping point in the development of both the mobile banking and payments market and of Monitise as a company. Our revenue run rate is very encouraging in this, the commercial phase of our development.
"Taking 100% control of our UK operations, as our business accelerates has been a highly successful move. The Board expects UK operations to reach month-on-month cash breakeven this year.
"In addition to growing our live businesses in the UK and North America and with Visa, we intend to invest in the significant opportunities presented with First Eastern and The Carphone Warehouse.
"The additional funding which we confirmed in January 2010 has set us up very well to continue our strategy to ensure that Monitise can both develop its live markets and invest in selected global partnerships and territories."