Key Points:
· TX-6 automatic transmission fit for production (B- Sample) successfully completed and installed in vehicle
· Satisfactory test results of TX-6 transmission at the maximum input speed
· Good progress in winning and execution of engineering service projects
· Revenue for the period of £174k (2009: £ 136k)
· Loss for the period after full impairment of capitalised development costs: £3,954k (2009: £497k). This means that all capitalised development costs have been fully written off as an expense in the income statement as required by the International Financial Reporting Standards (IFRS). Once orders are placed for the TX-6 transmission, the previously impaired development costs (from 2005 to 2010) will basically be reflected as an asset in the balance sheet and credited to the income statement in line with IFRS and thus will improve the results accordingly

· Equity funding facilities of €12.3 million as at 30 June 2010.

Jos Haag, Antonov's Chairman and CEO, commented:

"We have made significant progress in completing the production model of the TX-6 transmission which has been tested with excellent results and which has been installed now successfully in a standard vehicle. We have started to see the positive results of our new strategy announced in early 2009 in several key areas of the business including in winning engineering projects and in strengthening our commercial position in China"