Preliminary results for the year ended 31 December 2004

BNB, announces a return to profitability (before goodwill amortisation) in its preliminary results for the year ended 31 December 2004.

Financial Highlights
Considerably improved results following significant restructuring of the group ñ return to full year profitability before goodwill amortisation and tax, with 0.3m profit (2003: 6.1m loss)

- Strong year on year organic growth in gross profit pre-acquisitions:
- Total organic gross profit 17.8% (total including acquisitions 46.5%)
- Recruitment solutions 13.5% (total including acquisitions 26.0%)
- Recruitment consultancy 27.4% (total including acquisitions 90.3%)

Three significant acquisitions in 2004 ñ Apollo Group (March 2004), TCS (July 2004), MGMS International (November 2004)

Simon Grinstead, Executive Chairman of BNB, said:

ì2004 was a very positive year for BNB. The group returned to profitability (before goodwill amortisation) following a significant period of restructuring and rebuilding; our underlying businesses showed strong organic growth, and we completed three significant acquisitions.

2005 has started positively and we look forward to the remainder of the year with confidence.î