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COMPANY ANNOUNCEMENT: Interim Directors Statement 17/06/2009

The following is a Company Announcement issued by Simonds Farsons Cisk plc pursuant to the Malta Financial Services Authority Listing Rules 9.51 and 9.53.  This statement is based on the unaudited management accounts of Simonds Farsons Cisk p.l.c. up to 31 May 2009 and other financial information.

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Interim Directors’ Statement

The Board of Directors hereby announces that since the publication, on 28 April 2009, of its preliminary statement of annual results for the financial year ended 31 January 2009 and which included an outlook for the financial year under review, no material events and/or transactions have taken place that would have an impact on the financial position of the Holding Company and its controlled undertakings, such that they would require specific mention, disclosure or announcement pursuant to the applicable Listing Rules.

Trading conditions remain challenging.  Group turnover has reduced marginally as compared to the same period last year, but the various measures of cost containment taken by management have made up for the shortfalls in revenues, and to date, targeted results are close to being attained.

Subject to the performance of the early summer month sales, the Directors remain cautiously optimistic that the operational profit for the six months to 31 July 2009 will be better than that reported for the same period last year. Furthermore, the directors also remain satisfied with the performance of all other segments of the Group.                     

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Arthur Muscat
Company Secretary