Kiln prepares its first full financial statements under International Financial Reporting Standards (IFRS)...

Kiln will prepare its first full financial statements under International Financial Reporting Standards (IFRS) for the year ending 31 December 2005 and will also issue its interim results to 30 June 2005 in accordance with IFRS requirements.

The company does not envisage any significant impact on the fundamental economics of its business, its capital solvency or on its ability to pay dividends. However the overall impact of IFRS will change the way in which Kiln accounts for and reports on certain aspects of its financial data.

The main areas where IFRS has an impact on the reporting of Kiln's results include the pension scheme, performance-related remuneration and foreign exchange.

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