BRTR Bartercard

RNS Number:2077L
Bartercard plc
30 October 2006


Bartercard PLC

Results of AGM


At the company's Annual General Meeting on Friday, Chaired by Simon Barker, the
final accounts were accepted, and Grant Thornton were appointed as auditor to
the company.  The construction of the board was changed to be:

Wayne Sharpe, Executive Chairman

Andrew Federowsky, CEO

Murray D'Almeida, non exec

Simon Barker, non exec


Wayne Sharpe, Chairman, made the following comments: "The last year has been one
of intense turmoil;  with an attempted hostile "takeover" of the board at last
year's AGM, and considerable changes to the board of directors (largely as a
direct result of that AGM dispute.)


The company has had to close down and write off all the redundant Universal
businesses we inherited from our Reverse Takeover, and in the meantime has had
to restructure many parts of the Bartercard group to overcome declining or flat
performance. This has included substantial retrenchments, some office closures
and some heavy rethink on expenses.


But most important was we focused on employing and motivating the income
producing people in the group to strive for different and better results.


Bartercard Australia is growing again, and continues to be profitable.
Bartercard UK has become profitable and has broken multiple records in the first
6 months of the year and Bartercard UAE has hit its growth curve for break even
then profit.


International licence sales by Bartercard International are at record levels
with multiple potential deals in the pipeline."

                                                                 30 October 2006


                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

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