Key Financial Information (£m)

Balance Sheet 2010 2009 2008
Portfolio value 110.0 101.3 98.4
Cash and deposits 21.5 28.1 33.3
Net asset value excluding intangibles* 134.6 132.5 135.2
Net asset value 173.1 171.0 173.8
Income Statement 2010 2009 2008
Change in fair value of portfolio 4.0 (1.4) (35.5)
Revenue from services and other operating income 2.2 1.5 2.4
Administrative expenses 5.4 6.3 9.6
Profit/(loss) for the period after tax 1.8 (6.1) (40.4)
Cash flow statement 2010 2009 2008
Investments in portfolio 6.9 2.8 9.2
Realisations from portfolio 2.7 0.5 -
Net cash outflow from operating activities 2.5 2.7 3.5

All amounts are displayed in £m.

Information is extracted from IP Group’s audited annual financial statements.

* Net Asset Value Excluding Intangibles comprises all assets and liabilities of the Group excluding intangible assets and the Oxford equity rights asset.