INTERIM RESULTS FOR SIX MONTHS ENDED 31 JANUARY 2008
04.23.08

Highlights for the Period

• Revenue of US$836 thousand
• Net loss of US$ 5.87 million or $0.14 per basic and diluted share
• Launch of new product ventures for waste to ethanol and other advanced fuels and advanced batteries
• Launched successful effort to re-domicile to Jersey and obtain admission to CREST electronic trading service
• Commenced construction of 31,000 square foot consolidated lab, rapid prototyping shop and corporate headquarters in Alameda, California
• Agreement to acquire full rights to intellectual property of high-capacity renewable energy storage battery company, Plurion Limited

Applied Intellectual Capital Limited, an AIM-listed company that funds, develops, patents and commercialises electrochemical and advanced separations technologies in clean energy,

electricity storage, water treatment, metals recovery and other emerging markets, is pleased to report its unaudited interim results for the period 1 August 2007 to 31 January 2008.

The interim results are reported under International Financial Reporting Standards for the first time.

The Company reported revenues of $836 thousand and a net loss of $5.87 million or $0.14 per basic and diluted share for the six-month period ended 31 January 2008.

Dr. Steven Clarke, CEO, said "The loss for the period reflects expenditures for research and development of $3.60 million across our four key ventures - advanced batteries, metals recovery, high-capacity renewable energy batteries, and bio-fuels. Infrastructure costs have grown in support of the expanded research capability of the company.

"As we make this report, we are moving into our new laboratory and rapid prototyping shop that enables us to bring together all of the disciplines that we use in a single collaborative environment. We designed our new facility and staffed up to support the growth that we have committed to deliver to our shareholders.

"Our outlook for progress on our key ventures for the balance of the year is good as we continue to add talent, capacity, and project backlog.

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ENQUIRIES:

Applied Intellectual Capital: Dr. Stephen Clarke Tel. +1 925 639 9399

Pelham Public Relations : Archie Berens Tel. +44 (0)7802 442486

Nabarro Wells: Marc Cramsie Tel. +44 (0)207 710 7400

NOTES FOR EDITORS

About AIC

AIC is an AIM listed company that funds, develops, patents and commercialises electrochemical and advanced separations technologies in clean energy,
electricity storage, water treatment, metals recovery and other emerging markets. AIC listed on AIM in January 2007 and currently has a market
capitalisation of approximately £107 million.