lawyer: Sep 28, 2010

The first period represents the time leading up to the Company's listing on
PLUS and the associated work involved in that process. The work leading up to
the PLUS listing was considerable and there was no small effort by the
Directors and staff of Climate Human Capital in getting the Company to market.
I would like to thank them for their hard work and commitment during that time.

The second period represents the time since the Company's listing on PLUS and
subsequent launch. During this period the Directors and staff of Climate Human
Capital have worked tirelessly to build the business and start implementing its
operational plan. This is reflected in the loss for the half year, which is in
line with expectations. We now have in place a high quality team which is
already building a reputation in the market for its expertise and knowledge in
the `green' recruitment sector. We have successfully established a research and
execution infrastructure in line with our original plan and we continue to
develop and grow our database of candidates and companies. All of this has been
achieved within a very short period of time and within expected cost.

We continue to experience increased market penetration in a number of chosen
`green' related sectors including Consulting, Energy and Financial Services and
this has been expanded into non-domestic markets, most specifically Europe and
latterly Asia and the US. As a result we are seeing an increase in recruitment
mandates and our first international placement is already completed. We expect
this activity to continue building as we go forward.

As a start up business in the recruitment sector, establishing a market
presence and gaining access to companies is vital. We are achieving this
through both conventional marketing means and through the implementation of our
wider operational plan. One aspect of this which is proving particularly
successful is our stand alone research and business intelligence product
provided by Climate Human Capital's Research team. This bespoke sector research
has been well received by companies and has resulted in specific recruitment
mandates being won. It gives the Company a high level of differentiation in the
market place and is helping establish Climate Human Capital as a 'thought
leader'. It also provides the Company with access to revenue at an earlier
stage than might be expected for a start up executive search business.

Whilst there is still a level of caution in the market, our innovative research
led approach has been well received and it is clear there is business to win.
We do not doubt that there will be challenges going forwards, although our
objectives are clear; to win mandates, execute them, grow revenue and thereby
generate profit.

To support the growth and development of the business Eduard Sparkes, a
corporate financier with significant experience of working with owner managed
high growth companies and an advisor who helped the Company during the PLUS
listing process, will join the Board as a Non-Executive Director. We believe
that Eduard's experience and complementary skills will prove beneficial as we
grow the business.

Going forward, the Company intends to continue developing and growing its
executive search and research business and expects revenues to increase as
mandates are won, fulfilled and recognised. We believe there is an opportunity
to capitalise on the demand for high quality, specialist staff in the `green'
sector and, in turn, develop Climate Human Capital into a key player in its
field.

Tuesday, September 28, 2010

Climate Human Capital Plc (CLIP)

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