____5 Year Share Price against EPS chart____


Web Site : http://www.oasisdentalcare.co.uk/

Email News Alert : http://www.oasisdentalcare.co.uk/investors/email/


Oriel Securities 1st Dec 2005 BUY

2005 PTP 2.1M
2005 EPS 1.8p

2006 PTP 2.7M
2006 EPS 2.4p
____________________________________________________________________

Major Shareholders

Advent VCT--------------------7,508,113 (9.20%)
BLS Holdings Ltd Prtnship----6,749,964 (8.27%)
Singer & Friedlander IM Ltd--6,590,000 (8.07%)
Joseph Joe King--------------3,347,500 (4.10%) DIR
Goldman Sachs Group Inc-------2,855,500 (3.50%)
BWD AIM VCT PLC--------------2,542,500 (3.11%)
____________________________________________________________________
Interim results 1st Dec 2005

Oasis Healthcare PLC
Interim Results for the period ending 30 September 2005
Oasis Healthcare PLC, the UK's leading corporate dentistry operator with 122
practices today announces much improved interim results for period ending 30
September 2005.

Turnover______________40.7_____+10%
EBITDA*_______________3.5_____+17%
Operating Profit m*_____1.2_____+50%
EBAT*_______________1.0_____+55%
Earnings per share ++___1.26p_____+56%
* After absorbing additional cluster infrastructure cost of 0.5m for the six
months
++ Excluding goodwill amortisation

Operational
* Changes implemented are delivering results and improved financial
returns
* Cluster structure working well and providing strong base to expand
* New NHS contract provides further opportunity to develop NHS
business
* Re-negotiated our consumable supply contract achieving 0.2 million
in annualised savings
* New Finance Director appointed

Financial
* Operating cash inflow of 2.5 million (2004: 1.5 million) *
* Revised debt repayment structure enabled 1.6 million of
capital to be spent on the business (2004: 0.6 million)
* Considering impact of IFRS - should have positive implications due to
treatment of goodwill

Current Trading
* Performance continues to be positive and prospects for the
second half year are encouraging

Stephen Lambert, Chief Executive, said:
'The management and structural changes we have put in place continue to deliver
operational and financial improvements to our performance. As this performance
accelerates we will continue to invest in dentists, improve customer services
and to build on the strong base the new organisational structure has
established.'
__________________________________________________________________

Recent Institution and Director Buying ;

19th Sept 2005 S Lambert buy 1.0 million @ 10.5p
19th Sept 2005 G Blomfield Buy 500,000 @ 10.5p
29th April 2005 Goldman Sachs Buy 2.855 million.
14th Dec 2005 Stephen Lambert Buy 100,000 @ 12p
3rd Dec 2005 Stephen Lambert Buy 165,000 @ 10.5p
3rd Aug 2004 Stephen Lambert Buy 35,000 @ 16.2p

Latest update from www.armshare.com

The interim results to September 2005 showed sales of 40.1 million (2004: 37.1 million), pre-tax loss of 131,000 (2004: 493,000) and adjusted EPS of 1.26p (2004: 0.81p). The ArmShare editor uses an Oasis practice which he had seen since its acquisition by Oasis lose operationally 'the eye of the owner'; the key to the success of Oasis is how to run a multi site operation and instil into the organisation structure the 'eye of the owner' within each practice - the current CEO was appointed in August 2004 and has installed the cluster structure referred to above, whereby each cluster comprises 4 to 10 practices and is run on a day to day basis by a cluster manager and a cluster clinical director. The editor met the CEO for the first time on 1st December and a full report of the data gleaned at that meeting will be provided shortly after getting clarification on a couple of issues. The company reported that its strategy is to grow sales organically - it achieved organic sales growth during the period of 10% (this from a practice base which had been shrunk from 125 in 2004 to 122) ; the period has absorbed 500,000 of costs associated with the cluster infrastructure; the operating cash inflow during the period was 2.5 million (depreciation amounted to 1.1 million and goodwill amortisation was 1.1 million); despite the 500,000 cluster infrastructure costs, the practice EBITDA (pre central costs) margin to sales has risen from 12.3% to 12.5%; and the board regards prospects for H2 as encouraging.
Research Standing
We said " With the heady days of expansion over, at least for the moment, its going to be a long course of treatment, as exertion of buying muscle and the drive for private patients opens a long road towards the necessary levels of returns. It hasn't been pain free yet, but when the current cavity is filled it may well be time for the healing process to begin."

Oasis has followed the well trodden buy and build strategy, and reached the stage where conventional business skills needed to be applied if the organisation was to deliver shareholder value. In 2004, the CEO who implemented the initial strategy left and his replacement (who joined in August 2004) brought in depth experience of running retail multi-site operations. This lead to the implementation of the cluster infrastructure referred to above - the early signs are that this is producing a virtuous circle of being more attractive to dentists, providing a better service to clients, organic sales growth and better margins. The ArmShare editor met the current CEO on 1st December and has a couple more issues to pursue, following which a fuller description of what appears to be a revitalised business will appear. If the virtuous circle is for real and with the company's present level of sales as a platform, it will become quite straightforward for the company to handle what presently looks like excessive borrowings totalling 40 million.

Watching trades, someone is starting now to pick up some big lumps at mid price, yesterday was one and now today another.