Interim management statement for the period from 1 January 2011 to 11 May 2011

This has been a positive period for o2o.   Our core office products and managed procurement business traded steadily up to the recent bank holiday periods. We have been able to strengthen the business for the future through the provision of additional services and important new contracts, most notably the Advantia contract announced today. Our business critical services division performed well, benefiting from the increasing recognition amongst our client base of the range and breadth of services we now offer. While this is a relatively new activity for the Group, the rate of growth remains encouraging.

Overall, Group trading remains broadly in line with management expectations.

Despite the continued challenging market conditions, the Group's financial base remains strong and the Board remains confident in the prospects for o2o. The Group is focused on a substantial new business pipeline of which the Advantia contract, expected to be worth in excess of £25m per annum, is a part. The Advantia deal is set to commence generating revenue from 1 January 2012 and further demonstrates the growth ambitions and shift in emphasis for the Group. Alongside this, o2o remains determined to capitalise on the low cost operating model it has established over the last two years.

Further Enquiries:

office2office
Simon Moate
01603 691 102

Cardew Group
Tim Robertson/ David Roach/ Georgina Hall
0207 930 0777