Unaudited Condensed Consolidated Interim Report for the six months ended 30 June 2011

5 September 2011 - UNAUDITED CONDENSED CONSOLIDATED INTERIM REPORT FOR THE SIX MONTHS ENDED 30 JUNE 2011

The Board of Hydrogen Group Plc (“Hydrogen” or “the Group”), the specialist international recruitment Group, is pleased to announce its unaudited interim results for the six months ended 30 June 2011.

Financial Highlights

• Group revenue increased by 45% to £80.0m (2010: £55.2m)

• Group net fee income (‘NFI’) increased by 14% to £15.1m (2010: £13.2m)

• Profit before tax increased by 64% to £1.8m (2010: £1.1m)

• Profit conversion (ratio of profit before tax: NFI) increased by 50% to 12% (2010: 8%)

• Basic earnings per share increased by 76% to 6.01p (2010: 3.42p)

• Reduction in net debt to £1.5m (31 December 2010 £2.2m)

• Interim dividend maintained at 1.4p (2010: 1.4p)

Operating Highlights

• Strong contract performance with NFI up 41% to £8.1m (2010: £5.7m)

• NFI from Engineering increased by 71% to £2.9m (2010: £1.7m)

• Hong Kongoffice opened in April 2011

• Headcount servicing international markets increased by 13% to 112 (31 December 2010: 99), representing 40% of Group fee earning headcount (31 December 2010: 38%)

Commenting, Ian Temple, Executive Chairman of Hydrogen Group plc said:

“The Group has delivered good results for the first six months of the year. A strong performance from our contract business, combined with continued tight control of costs has enabled us to increase profitability, whilst carefully investing in our international network to ensure we are well positioned for medium-term growth.

Whilst uncertainty in the macro economic outlook continues to result in reduced visibility in our markets, the Group is performing in line with expectations, with our performance in July and August broadly consistent with that of the previous quarter.”

Enquiries:

Hydrogen Group Plc 020 7240 2500

Ian Temple, Executive Chairman

John Glover, Finance Director

Hudson Sandler 020 7796 4133

Financial PR Advisers

Kate Hough

Alex Brennan

Oriel Securities 020 7710 7600

NOMAD to Hydrogen

Nicholas How

Emma Griffin

An analyst meeting will be held at 11:30am at Hydrogen’s offices, Nicholas House, 3 Laurence Pountney Hill, London, EC4R 0EU on 5 September 2011.

Notes to Editors:

Hydrogen is a leading international specialist recruitment group that places high quality staff into clients on a permanent and contract basis and operates across four core sectors: Technology, Finance, Professional and Engineering. In each of these areas we have scale and strong brand recognition.

As a Group, we are focused on finding and building local and global relationships with hard to find, in demand, specialist candidates that clients cannot source themselves. We continue to leverage these strengths to grow and develop our offering into new markets and geographies, and have placed candidates in over 40 countries in the last 12 months.

The Group currently has approximately 350 employees globally, of which 40% are international facing.