FINCORP INVESTMENT LIMITED
	Abridged Unaudited Interim Financial Statements
	31st December 2006
	Balance Sheets																	Statements of Changes in Equity
					GROUP						COMPANY									Share		Share		Capital		Revaluation		General		Retained		Total
					31-Dec-06		31-Dec-05		30-Jun-06		31-Dec-06		31-Dec-05		30-Jun-06					Capital		Premium		Reserve		Reserve		Risk		Profit
		NOTES			Rs'000		Rs'000		Rs'000		Rs'000		Rs'000		Rs'000													Reserve
	ASSETS EMPLOYED																			Rs'000		Rs'000		Rs'000		Rs'000		Rs'000		Rs'000		Rs'000
	NON-CURRENT ASSETS																	GROUP
	Intangible assets				17,794		8,911		19,404		-		-		-			At 1st July 2005		120,155		6,827		398,910		295,316		1,100		852,332		1,674,640
	Property, plant and equipment	4			227,306		186,790		219,569		-		-		-			Share of increase in reserves
	Investments in associates				3,158,277		1,732,182		2,787,667		2,018,257		1,052,481		1,156,055			of associates		-		-		16,233		156,705		-		(10,945)		161,993
	Investments in subsidiaries				-		-		-		150,000		160,000		160,000			Fair value adjustment		-		-		-		11,650		-		-		11,650
	Investment securities				300,997		299,415		342,642		237,746		285,539		334,908			Net gains/(loss) not recognised in
	Loan receivable				326,423		274,958		299,253		326,423		274,958		299,253			the income statement		-		-		16,233		168,355		-		(10,945)		173,643
	Finance lease receivables	5			1,189,310		1,010,737		1,108,580		-		-		-			Profit attributable to
	Deposits with Banks				94,000		-		94,000		-		-		-			shareholders		-		-		-		-		-		97,509		97,509
					5,314,107		3,512,993		4,871,115		2,732,426		1,772,978		1,950,216			Dividends		-		-		-		-		-		(24,031)		(24,031)
	CURRENT ASSETS				513,715		897,409		623,934		26,944		37,924		49,634			At 31st December 2005		120,155		6,827		415,143		463,671		1,100		914,865		1,921,761
	CURRENT LIABILITIES				(973,007)		(508,849)		(584,971)		(266,959)		(140,097)		(200,213)
	NET CURRENT (LIABILITIES)/ASSETS				(459,292)		388,560		38,963		(240,015)		(102,173)		(150,579)			At 1st July 2005		120,155		6,827		398,910		295,316		1,100		852,332		1,674,640
					4,854,815		3,901,553		4,910,078		2,492,411		1,670,805		1,799,637			Share of increase
																		in reserves of associates		-		-		1,141		1,150,031		-		-		1,151,172
	FINANCED BY																	Fair value adjustment		-		-		-		(3,542)		-		-		(3,542)
	SHARE CAPITAL				103,355		120,155		120,155		103,355		120,155		120,155			Net gains not recognised in
	RESERVES				3,054,048		1,801,606		2,839,907		1,862,633		1,075,692		1,180,229			the income statement		-		-		1,141		1,146,489		-		-		1,147,630
	SHAREHOLDERS' INTERESTS				3,157,403		1,921,761		2,960,062		1,965,988		1,195,847		1,300,384			Profit attributable to
	NON-CURRENT LIABILITIES																	shareholders		-		-		-		-		-		197,869		197,869
	Deposits				1,160,108		1,493,155		1,438,963		-		-		-			Dividends		-		-		-		-		-		(60,077)		(60,077)
	Borrowings				526,492		479,615		501,292		526,423		474,958		499,253			At 30th June 2006		120,155		6,827		400,051		1,441,805		1,100		990,124		2,960,062
	Deferred tax liability				10,812		7,022		9,761		-		-		-			Share of increase
					1,697,412		1,979,792		1,950,016		526,423		474,958		499,253			in reserves of associates		-		-		3,868		246,141		-		24,698		274,707
					4,854,815		3,901,553		4,910,078		2,492,411		1,670,805		1,799,637			Fair value adjustment		-		-		-		(26,297)		-		-		(26,297)
	Income Statements																	Net gains not recognised in
							GROUP						COMPANY					the income statement		-		-		3,868		219,844		-		24,698		248,410
					6 Months to		6 Months to		Year to		6 Months to		6 Months to		Year to			Profit attributable to
					31-Dec-06		31-Dec-05		30-Jun-06		31-Dec-06		31-Dec-05		30-Jun-06			shareholders		-		-		-		-		-		175,815		175,815
							Restated											Dividends		-		-		-		-		-		(24,031)		(24,031)
					Rs'000		Rs'000		Rs'000		Rs'000		Rs'000		Rs'000			Share Buy Back & Cancellation of Shares		(16,800)		(6,827)								(179,226)		(202,853)
	Turnover				124,116		124,077		235,135		25,405		38,046		84,973			At 31st December 2006		103,355		-		403,919		1,661,649		1,100		987,380		3,157,403
	Operating income				96,414		55,029		126,437		56,525		22,786		80,303
	Operating expenses				(33,220)		(25,595)		(55,436)		(1,156)		(992)		(1,803)
	Operating profit				63,194		29,434		71,001		55,369		21,794		78,500			COMPANY
	Share of profit in associates				117,940		72,098		134,230		-		-		-			At 1st July 2005		120,155		6,827		100,596		574,846		-		138,333		940,757
	(Loss)/Profit on disposal of subsidiary				(143)		-		-		1,425		-		-			Fair value adjustment
	Profit before taxation				180,991		101,532		205,231		56,794		21,794		78,500			not recognised in the
	Taxation				(5,176)		(4,023)		(7,362)		(211)		(320)		(652)			income statement		-		-		-		257,647		-		-		257,647
	Profit attributable to shareholders				175,815		97,509		197,869		56,583		21,474		77,848			Profit attributable to
																		shareholders		-		-		-		-		-		21,474		21,474
																		Dividends		-		-		-		-		-		(24,031)		(24,031)
																		At 31st December 2005		120,155		6,827		100,596		832,493		-		135,776		1,195,847
	Data per Share
	Net assets per share (Rs.)				30.55		15.99		24.64		19.02		9.95		10.82			At 1st July 2005		120,155		6,827		100,596		574,846		-		138,333		940,757
	Earnings per share (Rs.)	7			1.47		0.81		1.65		0.47		0.18		0.65			Fair value adjustment
	Dividends per share (Re.)				0.20		0.20		0.50		0.20		0.20		0.50			not recognised in the
	Weighted average number of shares in issue				119,880,955		120,154,860		120,154,860		119,880,955		120,154,860		120,154,860			income statement		-		-		-		341,856		-		-		341,856
	No of shares in issue at end of period				103,355,340		120,154,860		120,154,860		103,355,340		120,154,860		120,154,860			Profit attributable to
																		shareholders		-		-		-		-		-		77,848		77,848
																		Dividends		-		-		-		-		-		(60,077)		(60,077)
																		At 30th June 2006		120,155		6,827		100,596		916,702		-		156,104		1,300,384
	NOTES																	Fair value adjustment
	1. The financial statements are unaudited and have been prepared using the same accounting policies as those adopted in the financial statements for the year ended																	not recognised in the
	30th June 2006 and comply with IAS 34.																	income statement		-		-		-		879,568		-		-		879,568
																		Transfer on disposal of investment		-		-		-		(43,663)		-		-		(43,663)
	2. RESULTS																	Net gain not recognised in
	Results for six months period to 31st December, 2006 increased substantially by 80% to Rs 175.8 million, though this year's figure includes an amount of Rs 46.2																	the income statement		-		-		-		835,905		-		-		835,905
	million which represents profit on sale of certain non-strategic investments. Excluding the above contribution, attributable profits are still up by 33% on 2005,																	Profit attributable to
	driven essentially by the excellent performance of our associates.																	shareholders		-		-		-		-		-		56,583		56,583
	Group results as at 31st December, 2005 have been restated to eliminate the effect of fair value adjustment relating to investment property in the books of Caudan																	Dividends		-		-		-		-		-		(24,031)		(24,031)
	Investment Ltd, an Associate. This adjustment was reversed as at 30th June, 2006 and had adversely affected the Group results of Fincorp at 31st December, 2005																	Share Buy Back & Cancellation of Shares		(16,800)		(6,827)		-		-		-		(179,226)		(202,853)
	for an amount of  Rs 71.7 million.																	At 31st December 2006		103,355		-		100,596		1,752,607		-		9,430		1,965,988
	Net Asset value per share grew by 24% over the six months period to reach Rs 30.55 at 31st December, 2006.
	3. CAPITAL STRUCTURE AND PROSPECTS																	Cash Flow Statements
	As previously announced, the Company completed at the end of 2006 the buy-back from Lloyds TSB Bank Plc of its 14% stake in Fincorp for a consideration of																					GROUP						COMPANY
	Rs 203 million.																					6 Months to		6 Months to		Year to		6 Months to		6 Months to		Year to
	In view of the current encouraging performance of the Group's core investments and taking into account the reduced number of shares in issue, full year results																					31-Dec-06		31-Dec-05		30-Jun-06		31-Dec-06		31-Dec-05		30-Jun-06
	should represent a very satisfactory growth in earnings per share.																					Rs'000		Rs'000		Rs'000		Rs'000		Rs'000		Rs'000
																		NET CASH INFLOW FROM OPERATIONS				18,939		75,614		142,778		34,478		38,489		58,697
	4. PROPERTY, PLANT AND EQUIPMENT				GROUP													TAXATION
					31-Dec-06		31-Dec-05		30-Jun-06									Income tax paid				-		-		(8,647)		-		-		(1,445)
					Rs'000		Rs'000		Rs'000									INVESTING ACTIVITIES
	Assets under operating leases included under the above caption				225,589		185,007		217,423									Purchase of property, plant and equipment				(32,172)		(42,054)		(101,041)		-		-		-
																		Proceeds from sale of property, plant and
																		equipment				4,296		4,768		7,644		-		-		-
	5. FINANCE LEASE RECEIVABLES																	Investment in associate				-		-		(4,173)		-		-		(4,173)
	Receivable within one year and included in current assets				469,611		386,516		434,580									Purchase of intangible assets				(329)		(8,911)		(16,582)		-		-		-
	Receivable after one year				1,189,310		1,010,737		1,108,580									Purchase of investments				-		-		(57,912)		-		-		(57,912)
					1,658,921		1,397,253		1,543,160									Proceeds from sale of investments				117,718		42,095		71,134		117,718		42,095		71,134
																		Deposits with banks				-		-		(94,000)		-		-		-
																		Disposal of subsidiary, net of cash disposed				8,403		-		-		11,425		-		-
	6. SEGMENT INFORMATION				Group		Leasing		Investing		Eliminations							Net outflow from investment in
					Rs'000		Rs'000		Rs'000		Rs'000							finance leases				(118,334)		(138,956)		(284,879)		-		-		-
	6 months to 31st December 2006																	NET CASH (OUTFLOW)/INFLOW FROM
	Total gross income				124,116		122,047		25,405		(23,336)							INVESTING ACTIVITIES				(20,418)		(143,058)		(479,809)		129,143		42,095		9,049
	Operating  profit				63,194		30,825		55,369		(23,000)							NET CASH (OUTFLOW)/INFLOW BEFORE
																		FINANCING ACTIVITIES				(1,479)		(67,444)		(345,678)		163,621		80,584		66,301
	6 months to 31st December 2005																	FINANCING ACTIVITIES
	Total gross income				124,077		103,837		40,576		(20,336)							Deposits (matured)/received				(240,994)		378,461		331,926		-		-		-
	Operating  profit				29,434		27,344		22,090		(20,000)							Net loans				197,282		(22,056)		(24,687)		-		(19,500)		(19,500)
																		Share Buy Back				(202,853)		-		-		(202,853)		-		-
	Year ended 30th June 2006																	Dividends paid				(24,031)		(52,868)		(88,914)		(24,031)		(52,868)		(88,914)
	Total gross income				235,135		214,002		67,948		(46,815)							NET CASH (OUTFLOW)/INFLOW FROM
	Operating  profit				71,001		57,773		57,228		(44,000)							FINANCING ACTIVITIES				(270,596)		303,537		218,325		(226,884)		(72,368)		(108,414)
																		(DECREASE)/INCREASE IN CASH AND CASH
	7. EARNINGS PER SHARE																	EQUIVALENTS				(272,075)		236,093		(127,353)		(63,263)		8,216		(42,113)
	Earnings per share is calculated by dividing the profit attributable to shareholders by the weighted average number of equity shares in issue and ranking for dividend.																	CASH AND CASH EQUIVALENTS
																		BROUGHT FORWARD				(45,744)		81,609		81,609		(185,100)		(142,987)		(142,987)
	8. Copies of the abridged unaudited interim financial statements can be obtained free of charge upon request at the registered office of the Company.																	CASH AND CASH EQUIVALENTS
																		CARRIED FORWARD				(317,819)		317,702		(45,744)		(248,363)		(134,771)		(185,100)
	9. These abridged financial statements were approved for issue by the Board of Directors on the 5th March 2007.
	10. This communiqué is issued pursuant to Listing Rule 12.21.
	The Board of Directors of Fincorp Investment Limited accepts full responsibility for the accuracy of the information contained in this communiqué.
																		BY ORDER OF THE BOARD
																		(S) JEAN-FRANCOIS DESVAUX DE MARIGNY
																		SECRETARY