Half Year Results

December 2007

Connexionz Limited (NZAX:CNX)
Results for announcement to Market
Reporting period: 6 months to 30 September 2007
Previous reporting period: 6 months to 30 September 2006

Amount (000); Percentage change
Revenue from ordinary activities: $NZ 1,197; +92%
Profit (loss) from ordinary activities after tax attributable to security holders: $NZ (303); +5%
Net profit (loss) attributable to security holders: $NZ (303); +5%

Interim/Final Dividend:
Amount per security; Imputed amount per security
Payment of a dividend is not proposed.
Not applicable

Record date: Not applicable
Dividend payment date: Not applicable

See Chairman's commentary below.

Connexionz (NZAX:CNX) has made a consolidated loss of $356,025
compared to a loss of $317,531 for the corresponding period last year.

The Chairman, Craig Boyce said that, "the losses were due to: the board's decision to write down a portion of its intangible assets ($214,099); unavoidable delays to the deployment of the Charlottesville contract; the additional cost for the development required to fulfil the Reading Borough Council project; and the decision of the Greater Manchester Public Transport Executive, for the time being, to discontinue fiscal support to maintain their RTPI system while they review their strategic plans.

"On the other hand, for the first time, Connexionz is simultaneously deploying three contracts, being Charlottesville, the University of Virginia and Reading Borough Council, collectively worth approximately $2.2m. Consequently the company has had to incur considerable expenses in equipment and component purchases in addition to upfront technology development. These projects will be completed during 2008. Furthermore, Connexionz has traded profitably in October and November as revenues from the three contracts came on stream."

The Reading Borough Council GBP 370,000 ($997,000) order involves upgrading all the existing buses with on board computers capable of displaying full motion video as well as supporting their new citywide WiMAX communications network. Connexionz develops real-time information systems for public transport. It now has systems deployed in Christchurch and Auckland New Zealand; Sydney, Australia; Maryland, Virginia (second system underway), Oregon and California in the USA. In addition Connexionz UK office maintains systems in Southampton, Reading and Manchester and Eindhoven in The Netherlands.