For Release 7.00am 18 December 2007

Micap plc Interim results for the
six months to 30 th September 2007

Micap plc, the AIM-quoted developer and producer of value added
microencapsulated ingredients to industry, (“Micap” or the “Company”) today reports its interim results for the six months to 30th September 2007.

HIGHLIGHTS

Commercial highlights

• Successful launch of the Micap Ingredients range of products at Food Ingredients (Europe) Exhibition on 30th October 2007

• Improvements to production facility in Athlone, Ireland has led to an increase in orders for sub-contract drying services as customers welcome process efficiency gains

• New contracts won by Licensing and Development team

• With focus on food ingredients business, Micap is carrying out full review of non-core operations to ensure that shareholder value is maximised

• Loss for period after tax for continuing operations was £358,000 in line with last year (2006: £347,000) despite no contribution of royalty following termination of Licence agreement with Firmenich.  Our direct sales as a result currently continue to grow alongside our new strategy being implemented

Post Period End

• Successful placing of new Ordinary shares to raise £950,000 gross.

Commenting on the results, Michael Norris, Chief Executive
of Micap, said :

“In line with our stated strategy, as outlined in the last Annual Report, we have continued to concentrate our efforts on the launch of our food ingredient range, Micap Ingredients, and on generating further opportunities in the food sector through our development services.

Our Ingredients launch was very well received, and we continue to see interest from major companies for our microencapsulation services. Furthermore our production facility in Ireland is now fully operational following further investment in the plant to enhance quality and flexibility.

As a consequence of our focus on the food ingredients business, we are carrying out a full review of our other business interests and sectors to ensure that resources are provided to maximise shareholder value.”

Click below to download the full results in Acrobat reader format (pdf) or Word document format

Title	Date	File Type	File Size
Interim Results for six months to 30th september 2007	18-12-07		134 Kb
Interim Results for six months to 30th september 2007	18-12-07		334 Kb