U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF
THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): August 13, 2008

Berkeley Technology Limited
(Exact Name of Registrant as Specified in its Articles)
----------------------

0-21874
(Commission File Number)

Jersey, Channel Islands Not applicable
(State or Other Jurisdiction (I.R.S. Employer Identification No.)
of Incorporation)

4 Wests Centre
Bath Street
St. Helier
Jersey, JE2 4ST
Channel Islands
Tel: 011 44 1534 607700
(Address and telephone of Principal Executive Offices)

N/A
(Former Name or Address, if Changed Since Last Report)

The following information is furnished pursuant to this Item 7.01,"Regulation FD
Disclosure" and Item 2.02, "Results of Operations and Financial Condition."

FOR IMMEDIATE RELEASE August 13, 2008

Berkeley Technology Limited

Interim Report
For the Six Months Ended
June 30, 2008

London, August 13, 2008 - Berkeley Technology Limited (OTCBB: BKLYY.PK,
London: BEK.L) (the "Company") is an international venture capital and
consulting firm with a focus on Silicon Valley technology companies.

The Company today reported financial results for the six months ended June
30, 2008. The Company's consolidated net loss for the six months ended June 30,
2008, was $(1.1) million, or $(0.02) per diluted share and $(0.21) per diluted
ADR, compared with consolidated net income of $0.4 million, or $0.01 per diluted
share and $0.07 per diluted ADR, for the six months ended June 30, 2007. The
Company computes and reports consolidated net income (loss) and diluted earnings
(loss) per share and ADR in accordance with U.S. generally accepted accounting
principles.

We are operating in a much weaker economic environment this year. A $0.9
million decrease in realized investment gains, a $0.3 million reduction in
consulting fee income and a $0.2 million decline in investment income due to
lower interest rates and insurance policy maturities contributed to the net loss
for the first half of 2008. During the half, we received a further $0.3 million
payment representing the final distribution from the WorldCom, Inc. securities
litigation. Along with the $1.2 million received in January 2007, this recovers
part of the realized loss recorded by London Pacific Assurance Limited ("LPAL")
on its WorldCom bonds in 2002. In February 2008, the Company submitted a claim
in the Enron Securities class action settlement, based on Enron bonds previously
held by LPAL. Any receipts based on the claim are not expected until 2009 at the
earliest and the amount of the recovery is unknown at this time.

Our intention is to continue managing the Company to create value for our
shareholders. We believe that our long history of successfully investing in
Silicon Valley technology companies positions us well to create value by
acquiring equity positions in promising private companies. We back entrepreneurs
directly with our own capital, or by coinvesting with clients, or in certain
cases we may benefit from investments made by clients if their investments are
successful. Last year, we established several new equity positions, through
direct investment and through equity rights received as part of our consulting
activities. We use our consulting relationships in part to generate fees that
cover operating expenses. The level of consulting fees is expected to be
volatile depending on the nature and extent of our work at any point in time.

This interim management report and the following condensed set of financial
statements and responsibility statement represent the Company's half yearly
financial report for the six months ended June 30, 2008, in accordance with the
Disclosure and Transparency Rules of the Financial Services Authority in the
U.K.

*****

Berkeley Technology Limited
Condensed Consolidated Statements of Operations
Under U.S. GAAP (unaudited)
In thousands, except per share and ADS amounts

Six Months Ended
June 30,
.............................
2008 2007
............ ............

Revenues:

Consulting fee income $ 264 $ 570
Investment income 199 436
Realized investment gains 270 1,198
............ ............
733 2,204
Expenses:
Operating expenses 1,809 1,791
Amounts credited on insurance policyholder accounts 3 40
............ ............
1,812 1,831
............ ............
Income (loss) before income tax expense (1,079) 373

Income tax expense 2 2
............ ............
Net income (loss) $ (1,081) $ 371
............ ............
............ ............

Basic and diluted earnings (loss) per share $ (0.02) $ 0.01
............ ............
............ ............

Basic and diluted earnings (loss) per ADS $ (0.21) $ 0.07
............ ............
............ ............

Berkeley Technology Limited
Condensed Consolidated Balance Sheets
Under U.S. GAAP (unaudited)
In thousands, except share amounts

June 30, December 31,
2008 2007
............ .............
ASSETS

Current assets:

Cash and cash equivalents $ 13,779(1) $ 14,568
Accounts receivable, less allowances of $34 as of June 30, 2008
and December 31, 2007 241 423
Interest receivable 7 14
Pepaid expenses and deposits 93 164
............ ............
Total current assets 14,120 15,169

Private equity investments (at lower of cost or estimated fair value) 1,984(1) 1,984
Property and equipment, net of accumulated depreciation of $174 and $175
as of June 30, 2008 and December 31, 2007, respectively 12 14
............ ............
Total assets $ 16,116 $ 17,167
............ ............
............ ............

LIABILITIES AND SHAREHOLDERS' EQUITY

Current liabilities:
Accounts payable and accrued expenses $ 530 $ 547
Policyholder liabilities (due in less than one year) 144 46
............ ............
Total current liabilities 674 593

Policyholder liabilities (due in more than one year) - 95
............ ............
Total liabilities 674 688
............ ............
Commitments and contingencies

Shareholders' equity:
Ordinary shares, $0.05 par value per share: 86,400,000 shares authorized;
64,439,073 shares issued and outstanding as of June 30,
2008 and December 31, 2007 3,222 3,222
Additional paid-in capital 67,833 67,789
Retained earnings 7,384 8,465
Employee benefit trusts, at cost (13,522,381 shares as of
June 30, 2008 and December 31, 2007) (62,598) (62,598)
Accumulated other comprehensive loss (399) (399)
............ ............
Total shareholders' equity 15,442 16,479
............ ............
Total liabilities and shareholders' equity $ 16,116 $ 17,167
............ ............
............ ............

<FN>
(1) Includes $1,844 of investments and $10,596 of cash and cash equivalents in the Company's insurance
subsidiary (LPAL) which are not currently available to fund the operations or commitments of the Company
or its other subsidiaries.
</FN>

Berkeley Technology Limited
Condensed Consolidated Statements of Cash Flows
Under U.S. GAAP (unaudited)
In thousands

Six Months Ended
June 30,
.............................
2008 2007
............ ............

Net cash used in operating activities $ (1,057) $ (733)

Cash flows from investing activities:
Proceeds from maturity of held-to-maturity fixed maturity securities - 3,000
Proceeds from maturity of available-for-sale fixed maturity securities - 8,000
Proceeds from WorldCom, Inc. securities litigation settlement 270 1,198
Capital expenditures (2) -
............ ............
Net cash provided by investing activities 268 12,198
............ ............

Cash flows from financing activities:
Insurance policyholder benefits paid - (3,510)
............ ............
Net cash used in financing activities - (3,510)
............ ............

Effect of exchange rate changes on cash - 14
............ ............
Net increase (decrease) in cash and cash equivalents (789) 7,969
Cash and cash equivalents at beginning of period 14,568 6,707
............ ............
Cash and cash equivalents at end of period (1) $ 13,779 $ 14,676
............ ............
............ ............

<FN>
(1) The amount for June 30, 2008 includes $10,596 in the Company's insurance subsidiary (LPAL) which
is not currently available to fund the operations or commitments of the Company or its other subsidiaries.
</FN>

Berkeley Technology Limited
Notes to the Interim Report
For the Six Months Ended June 30, 2008

This interim report has not been audited or reviewed by independent
auditors pursuant to the Auditing Practices Board guidance on Review of Interim
Financial Information.

As used herein, the terms "Company," "we," "us" and "our" refer to Berkeley
Technology Limited. Except as the context otherwise requires, the term "Group"
refers collectively to the Company and its subsidiaries.

Note 1. Basis of Presentation and Principles of Consolidation

The accompanying condensed consolidated financial statements are unaudited
and have been prepared by the Company in conformity with United States generally
accepted accounting principles ("U.S. GAAP"). These unaudited condensed
consolidated financial statements include the accounts of the Company, its
subsidiaries, the Employee Share Option Trust ("ESOT") and the Agent Loyalty
Opportunity Trust ("ALOT"). Significant subsidiaries included in the operations
of the Group and discussed in this document include London Pacific Assurance
Limited ("LPAL") and Berkeley International Capital Corporation ("BICC"). All
intercompany transactions and balances have been eliminated in consolidation.

Certain information and note disclosures normally included in the Company's
annual consolidated financial statements have been condensed or omitted. In the
opinion of management, the unaudited condensed consolidated financial statements
reflect all adjustments (consisting of normal recurring accruals) which are
necessary for a fair statement of the results for the interim periods presented.

While the Company's management believes that the disclosures presented are
adequate to make the information not misleading, these unaudited condensed
consolidated financial statements should be read in conjunction with the audited
financial statements and related notes for the year ended December 31, 2007,
which are contained in the Company's Annual Report. The December 31, 2007
condensed balance sheet data was derived from audited financial statements but
does not include all disclosures required by U.S. GAAP.

The results for the six month period ended June 30, 2008 are not indicative
of the results to be expected for the full fiscal year.

From January 1, 2008, the unaudited condensed consolidated balance sheets
are presented in a classified format as is appropriate for a consulting company
rather than in an unclassified format as is appropriate for a life insurance and
annuities company. The majority of the Group's assets continue to be held by its
life insurance and annuities business; however, there are few policies remaining
and no new policies or maturities are expected in 2008. Policy maturities and
surrenders during 2007 were $3.6 million. This change has no impact on the
Company's shareholders' equity at January 1, 2008. The Group's primary business
is now consulting in venture capital. See Note 3 "Investments" below for a
discussion of the impact of this change on the Company's accounting policy for
its private equity investments.

The Company is incorporated under the laws of Jersey, Channel Islands. Its
Ordinary Shares are traded on the London Stock Exchange and in the U.S. on the
Over-the-Counter Bulletin Board in the form of American Depositary Shares
("ADSs"), which are evidenced by American Depositary Receipts ("ADRs").

Use of Estimates

The preparation of financial statements in conformity with U.S. GAAP
requires management to make estimates and assumptions that affect the reported
amounts of assets and liabilities and disclosure of contingent assets and
liabilities as of the date of these unaudited condensed consolidated financial
statements as well as the reported amount of revenues and expenses during this
reporting period. Actual results could differ from these estimates. Certain
estimates such as fair value and actuarial assumptions have a significant impact
on the gains and losses recorded on investments and the balance of life
insurance policy liabilities. Other accounting policies that include significant
estimates include the measurement of the Group's deferrd tax asset and the
corresponding valuation allowance, and fair value estimates for the expense of
employee share options.

Note 2. Earnings Per Share and ADS

The Company calculates earnings per share in accordance with Statement of
Financial Accounting Standards No. 128 ("SFAS 128"), "Earnings per Share." This
statement requires the presentation of basic and diluted earnings per share.
Basic earnings per share is calculated by dividing net income or loss by the
weighted-average number of Ordinary Shares outstanding during the applicable
period, excluding shares held by the ESOT and the ALOT which are regarded as
treasury stock for the purposes of this calculation. The Company has issued
Ordinary Share options, which are considered potential common stock under SFAS
128. The Company has also issued Ordinary Share warrants to Bank of Scotland in
connection with the Company's bank facility (now terminated), which are also
considered potential common stock under SFAS 128. Diluted earnings per share is
calculated by dividing net income by the weighted-average number of Ordinary
Shares outstanding during the applicable period as adjusted for these
potentially dilutive options and warrants which are determined based on the
"Treasury Stock Method."

For both of the six month periods ended June 30, 2008 and 2007, there were
no "in-the-money" options or warrants, and therefore no potentially dilutive
securities. As a result, diluted earnings (loss) per share is the same as basic
earnings (loss) per share.

Earnings (loss) per ADS is equivalent to ten times earnings (loss) per
Ordinary Share.

A reconciliation of the numerators and denominators for the basic and
diluted earnings (loss) per share calculations is as follows:

Six Months Ended
June 30,
-----------------------------
2008 2007
------------ ------------
(In thousands, except per
share and ADS amounts)

Net income (loss)...................................................... $ (1,081) $ 371
------------ ------------
------------ ------------
Basic and diluted earnings (loss) per share and ADS:
Weighted average number of Ordinary Shares outstanding,
excluding shares held by the employee benefit trusts................. 50,917 50,917
------------ ------------

Basic and diluted earnings (loss) per share............................ $ (0.02) $ 0.01
------------ ------------
------------ ------------

Basic and diluted earnings (loss) per ADS.............................. $ (0.21) $ 0.07
------------ ------------
------------ ------------

Note 3. Investments

As discussed above in Note 1 "Basis of Presentation and Principles of
Consolidation," the Group's primary business for financial reporting purposes is
now considered to be consulting in venture capital rather than life insurance
and annuities. As such, the Group's private equity investments are now carried
at cost less any other-than-temporary impairments in accordance with Accounting
Principles Board Opinion No. 18 (As Amended) ("APB 18"), "The Equity Method of
Accounting for Investments in Common Stock." Previously, the Group carried its
private equity investments at fair value in accordance with Statement of
Financial Accounting Standards No. 115 ("SFAS 115"), "Accounting for Certain
Investments in Debt and Equity Securities." Under paragraph 127(b) of SFAS 115,
insurance companies are required to report equity securities at fair value even
if they do not meet the scope criteria in paragraph 3 of SFAS 115. With respect
to the Group's private equity investments held at December 31, 2007, the Group's
best estimate of their fair value was their cost basis. Therefore, the change
from an insurance company for financial reporting purposes to a consulting
company as of January 1, 2008 did not have an impact on the carrying values of
the Group's private equity investments. Marketable debt and equity securities
will be carried at fair value in accordance with SFAS 115, should the Group make
such investments in the future.

As of June 30, 2008 and December 31, 2007, the Group's only investments
were private equity securities.

Because all of the Group's private equity investments are less than 20% in
the investee companies, and the Group does not have any significant influence on
the investee companies, all such investments are accounted for in accordance
with the cost method. The carrying amount of such investments is compared to
their estimated fair value, and if any impairment is determined to be
other-than-temporary, then an impairment charge would be taken during the period
such determination is made by the Group's management.

SFAS 157 defines fair value as the price that would be received to sell an
asset or paid to transfer a liability in an orderly transaction between market
participants at the measurement date (an exit price). SFAS 157 has also
established a fair value hierarchy that prioritizes the inputs to valuation
techniques used to measure fair value into three broad levels. See Note 4 "Fair
Value Measurements and Disclosures" below for the three levels of the SFAS 157
hierarchy. Level 3 inputs apply to the determination of fair value for the
Group's private equity investments. These are unobservable inputs where the
determination of fair values of investments requires the application of
significant judgment. It is possible that the factors evaluated by management
and fair values will change in subsequent periods, especially with respect to
the Group's privately held equity securities in technology companies, resulting
in material impairment charges in future periods. Historically, the Group has
determined that its best estimate of the fair value of its private equity
investments has equaled its cost basis, unless there has been a temporary or
other-than-temporary impairment of the investment. From January 1, 2008, only
other-than-temporary impairments will be recognized and the carrying value of a
private equity investment cannot be increased above its cost unless the investee
company completes an initial public offering or is acquired. For the six months
ended June 30, 2008, there were no other-than-temporary impairments of the
Group's private equity investments.

Investment Concentration and Risk

As of June 30, 2008, the Group's investments consisted of three private
corporate equity securities with individual carrying values of less then 10% of
the Group's shareholders' equity. One of these investments, with a carrying
value of $1.0 million, is in preferred stock of a technology company that is a
consulting client of BICC. Another investment, with a carrying value of
$140,000, is in preferred stock of another technology company that was a
consulting client of BICC in prior years. The third investment has a carrying
value of $844,000 and is in preferred stock of a technology company.

As of June 30, 2008, the Company's Jersey based life insurance subsidiary,
LPAL, owned 93% of the Group's $2.0 million in private equity securities. LPAL
is a regulated insurance company, and as such it must meet stringent capital
adequacy requirements and no transfers, except in satisfaction of long-term
business liabilities, are permitted from its long-term insurance fund without
the consent of LPAL's directors and actuary. LPAL's investments are not
currently available to fund the operations or commitments of the Company or its
other subsidiaries. However, in April 2008, the Company obtained approval from
the Jersey Financial Services Commission ("JFSC") for LPAL to make dividend
payments up to a total of $5.0 million to the Company in the future. As a
condition of the JFSC's approval, the Company has agreed to provide financial
support to LPAL in the unlikely event LPAL's funds are insufficient to pay off
its policy liabilities totaling $144,000 as of June 30, 2008, as well as the
operational costs of LPAL.

Realized Investment Gains

In the first six months of 2008, the Company recorded realized investment
gains of $270,000, representing the final distribution from the WorldCom, Inc.
securities litigation. LPAL held certain WorldCom, Inc. publicly traded bonds
which it sold at a loss in 2002. This $270,000 payment, in addition to the $1.2
million initial payment received from the WorldCom securities litigation in the
first six months of 2007, reverses part of LPAL's realized loss recorded in
2002. Since these payments are for LPAL's account, they are not currently
available to fund the operations or commitments of the Company or its other
subsidiaries.

In February 2008, LPAL submitted a claim in the Enron Securities class
action settlement, based on certain Enron bonds previously held by LPAL which
LPAL believes constitute "Category 1" securities eligible for the Enron
settlement proceeds. The Group does not expect any payment based on LPAL's claim
until 2009 at the earliest. The amount of the recovery of LPAL's realized
investment losses recorded in 2002 is currently unknown.

Note 4. Fair Value Measurements and Disclosures

The Company adopted SFAS 157 for financial assets and liabilities as of
January 1, 2008. SFAS 157 defines fair value as the price that would be received
to sell an asset or paid to transfer a liability in an orderly transaction
between market participants at the measurement date (an exit price). The
standard also outlines a valuation framework and creates a fair value hierarchy
in order to increase the consistency and comparability of fair value
measurements and the related disclosures. Under U.S. GAAP, certain assets and
liabilities must be measured at fair value, and SFAS 157 details the disclosures
that are required for items measured at fair value.

Financial assets and liabilities are measured using inputs from the three
levels of the SFAS 157 hierarchy. The three levels are as follows:

Level 1 - Inputs are unadjusted quoted prices in active markets for
identical assets or liabilities that are accessible by the Company. During the
six months ended June 30, 2008, the Company's Level 1 assets included money
market mutual funds which are included in cash and cash equivalents in the
condensed consolidated balance sheets. As of June 30, 2008, the Company had
$1,083,000 in money market mutual funds, compared to $1,871,000 as of December
31, 2007.

Level 2 - Inputs include quoted prices in markets that are not active or
financial instruments for which all significant inputs are observable, either
directly or indirectly. During the six months ended June 30, 2008, the Company
held no Level 2 assets.

Level 3 - Unobservable inputs for the asset or liability including
significant assumptions of the Company and other market participants. As of
December 31, 2007 and June 30, 2008, the Group held $1,984,000 of private equity
investments which are carried at cost, as adjusted for other-than-temporary
impairments. In order to determine if any other-than-temporary impairments
exist, the Group must first determine the fair values of its private equity
investments using Level 3 unobservable inputs, including the analysis of various
financial, performance and market factors. For the six months ended June 30,
2008, there were no other-than-temporary impairments of the Group's private
equity investments.

Cash and cash equivalents, accounts receivable, interest receivable,
prepaid expenses and deposits, accounts payable and accrued expenses, and
insurance policyholder liabilities are reflected in the condensed consolidated
balance sheets at carrying values which approximate fair values due to the
short-term nature of these instruments.

Note 5. Share Based Compensation

Equity Compensation Plan

The London Pacific Group 1990 Employee Share Option Trust ("ESOT"), which
was approved by shareholders in 1990, provides for the granting of share options
to employees and directors. Options are generally granted with an exercise price
equal to the fair market value of the underlying shares at the date of grant.
Such grants to employees and directors are generally exercisable in four equal
annual installments beginning one year from the date of grant, subject to
employment continuation, and expire seven to ten years from the date of grant.

Share Based Compensation Expense

Effective January 1, 2006, the Company adopted Statement of Financial
Accounting Standards No. 123 (revised 2004) ("SFAS 123R"), "Share-Based
Payment," which establishes standards for the accounting of transactions in
which an entity exchanges its equity instruments for goods or services,
primarily focusing on accounting for transactions where an entity obtains
employee services in share based payment transactions. SFAS 123R requires a
public entity to measure the cost of employee services received in exchange for
an award of equity instruments, including share options, based on the fair value
of the award on the grant date, and to recognize it as compensation expense over
the period the employee is required to provide service in exchange for the
award, usually the vesting period. SFAS 123R supersedes the Company's previous
accounting under Accounting Principles Board Opinion No. 25 ("APB 25"),
"Accounting for Stock Issued to Employees," and related interpretations, for
periods beginning in fiscal 2006. In March 2005, the SEC issued Staff Accounting
Bulletin No. 107 ("SAB 107") relating to SFAS 123R. The Company applied the
provisions of SAB 107 in its adoption of SFAS 123R.

The Company adopted SFAS 123R using the modified prospective transition
method as permitted under SFAS 123R. Accordingly, prior period amounts were not
restated. Under this application, the Company is required to record compensation
expense for all awards granted after the date of adoption and for the unvested
portion of previously granted awards that remain outstanding at the date of
adoption. Prior to the adoption of SFAS 123R, the Company used the intrinsic
value method as prescribed by APB 25 and thus recognized no compensation expense
for options granted with exercise prices equal to the fair market value of the
Company's ordinary shares on the date of grant.

In November 2005, the Financial Accounting Standards Board ("FASB") issued
Staff Position No. FAS 123(R)-3 ("FSP 123R-3"), "Transition Election Related to
Accounting for the Tax Effects of Share-Based Payments." The Company elected to
adopt the alternative transition method provided in FSP 123R-3 for calculating
the tax effects of share based compensation under SFAS 123R. The alternative
transition method includes simplified methods to establish the beginning balance
of the additional paid-in capital pool ("APIC pool") related to the tax effects
of share based compensation, and for determining the subsequent impact on the
APIC pool and consolidated statements of cash flows of the tax effects of share
based compensation awards that are outstanding upon adoption of SFAS 123R.

SFAS 123R requires companies to estimate the fair value of share based
payment awards on the date of grant using an option pricing model. The value of
the portion of the award that is ultimately expected to vest is recognized as
expense over the requisite service periods in the Company's consolidated
statements of operations.

Share based compensation expense recognized in the Company's consolidated
statements of operations for the first quarter of 2008 and 2007 includes
compensation expense for share options granted prior to, but not yet vested as
of December 31, 2005, as well as compensation expense for 4.5 million share
options granted to employees and directors on March 27, 2007. No share options
have been granted since March 27, 2007. SFAS 123R requires forfeitures to be
estimated at the time of grant and revised, if necessary, in subsequent periods
if actual forfeitures differ from those estimates. Share based compensation
expense calculated in accordance with SFAS 123R is to be based on awards
ultimately expected to vest, and therefore the expense should be reduced for
estimated forfeitures. The Company's estimated forfeiture rate of zero percent
for the first six months of 2008 and 2007 is based upon the fact that all
unvested options relate to longstanding employees and directors. As discussed in
Note 10 below, during the third quarter of 2008, the Company gave notice to its
Chief Financial Officer that his employment agreement would end on June 30,
2009. This is not expected to materially affect shared based compensation
expense or the forfeiture rate estimate in the future.

SFAS 123R requires the cash flows resulting from the tax benefits resulting
from tax deductions in excess of the compensation cost recognized for those
options to be classified as financing cash flows. As there were no share option
exercises during the first six months of 2008 or 2007, the Company had no
related tax benefits during those periods. Prior to the adoption of SFAS 123R,
those tax benefits would have been reported as operating cash flows had the
Company received any tax benefits related to share option exercises.

The fair value of share option grants to employees is calculated using the
Black-Scholes option pricing model, even though this model was developed to
estimate the fair value of freely tradable, fully transferable options without
vesting restrictions, which differ significantly from the Company's share
options. The Black-Scholes model also requires subjective assumptions, including
future share price volatility and expected time to exercise, which greatly
affect the calculated values. The expected term of options granted is derived
from historical data on employee exercises and post-vesting employment
termination behavior. The risk-free rate is based on the U.S. Treasury rates in
effect during the corresponding period of grant. The expected volatility is
based on the historical volatility of the Company's share price. These factors
could change in the future, which would affect the share based compensation
expense in future periods, if the Company, through the ESOT, should grant
additional share options.

Valuation and Expense Information Under SFAS 123R

The estimated fair value of share option compensation awards to employees
and directors, as calculated using the Black-Scholes option pricing model as of
the date of grant, is amortized using the straight-line method over the vesting
period of the options. For the six months ended June 30, 2008 and 2007,
compensation expense related to share options under SFAS 123R totaled $44,000
and $27,000, respectively, and is included in operating expenses in the
accompanying statement of operations.

On March 27 2007, 4,500,000 options were granted to employees and directors
at an exercise price equal to the fair market value of the underlying shares on
the grant date which was $0.10. These options were valued using the
Black-Scholes option pricing model using the following assumptions: expected
share price volatility of 66%, risk-free interest rate of 4.52%, weighted
average expected life of 6.25 years and expected dividend yield of zero percent.
The fair value of the 4,500,000 options was $292,000. During 2007, 250,000
options became vested, 100,000 options were forfeited and no options were
exercised. During the first six months of 2008, 1,362,500 options became vested,
no options were forfeited and no options were exercised. At June 30, 2008, there
were 9,625,000 options outstanding with a weighted average exercise price of
$1.45. Of these options, 6,037,500 were exercisable at June 30, 2008, and these
have a weighted average exercise price of $2.26. The remaining 3,587,500 options
were unvested at June 30, 2008. These unvested options have a weighted average
exercise price of $0.10. As of June 30, 2008, total unrecognized compensation
expense related to unvested share options was $210,000, which is expected to be
recognized as follows: $44,000 in the remainder of 2008, $77,000 in 2009,
$72,000 in 2010 and $17,000 in 2011. For additional information relating to our

employee share options, see Note 12 to the Company's consolidated financial
statements included in our Annual Report for the year ended December 31, 2007.

Note 6. Income Taxes

In June 2006, the FASB issued Interpretation No. 48 ("FIN 48"), "Accounting
for Uncertainty in Income Taxes." FIN 48 clarifies the accounting for
uncertainty in income taxes recognized in an enterprise's financial statements
in accordance with Statement of Financial Accounting Standards No. 109,
"Accounting for Income Taxes." This interpretation prescribes a recognition
threshold and measurement attribute for the financial statement recognition and
measurement of a tax position taken or expected to be taken in a tax return. FIN
48 also provides guidance on de-recognition of tax benefits, classification on
the balance sheet, interest and penalties, accounting in interim periods,
disclosure and transition. The Company adopted FIN 48 effective on January 1,
2007.

The Company's management believes that its income tax positions would be
sustained upon examination by appropriate taxing authorities based on the
technical merits of such positions, and therefore the Company has not provided
for any unrecognized tax benefits at the adoption date, and there has been no
change to the $0 unrecognized tax benefits from January 1, 2007 through June 30,
2008. In general, the Company's tax returns remain subject to examination by
taxing authorities for the tax years 2003 through 2007.

Note 7. Commitments and Contingencies

Guarantees

In November 2002, the FASB issued FASB Interpretation No. 45 ("FIN 45"),
"Guarantor's Accounting and Disclosure Requirements for Guarantees, Including
Indirect Guarantees of Indebtedness of Others - an interpretation of FASB
Statements No. 5, 57 and 107 and rescission of FASB Interpretation No. 34." The
following is a summary of the Company's agreements that the Company has
determined are within the scope of FIN 45.

Under its Memorandum and Articles of Association, the Company has agreed to
indemnify its officers and directors for certain events or occurrences arising
as a result of the officer or director serving in such capacity. The maximum
potential amount of future payments the Company could be required to make under
these indemnification agreements is unlimited. However, the Company maintains
directors and officers liability insurance that limits the Company's exposure
and enables it to recover a portion of any future amounts paid. As a result of
its insurance coverage, the Company believes the estimated fair value of these
indemnification agreements is minimal and has no liabilities recorded for these
agreements as of June 30, 2008.

The Company enters into indemnification provisions under its agreements
with other companies in its ordinary course of business, typically with business
partners, clients and landlords. Under these provisions, the Company generally
indemnifies and holds harmless the indemnified party for losses suffered or
incurred by the indemnified party as a result of the Company's activities. These
indemnification provisions sometime include indemnifications relating to
representations made by the Company with regard to intellectual property rights.
These indemnification provisions generally survive termination of the underlying
agreement. The maximum potential amount of future payments the Company could be
required to make under these indemnification provisions is unlimited. The
Company believes the estimated fair value of these agreements is minimal as
historically, no payments have been made by the Company under these
indemnification obligations. Accordingly, the Company has no liabilities
recorded for these agreements as of June 30, 2008.

Note 8. Business Segment and Geographical Information

The Company reports segment results in accordance with Statement of
Financial Accounting Standards No. 131, "Segment Reporting." The Company's
reportable operating segments are classified according to its businesses of
consulting in venture capital, and life insurance and annuities.

Intercompany transfers between reportable operating segments are accounted
for at prices which are designed to be representative of unaffiliated third
party transactions.

Summary revenue and investment gain information by geographic segment,
based on the domicile of the Group company generating those revenues, is as
follows:

Six Months Ended
June 30,
-----------------------------
2008 2007
------------ ------------
(In thousands)

Jersey............................................................... $ 440 $ 1,527
Guernsey............................................................. - 47
United States........................................................ 293 630
------------ ------------
Consolidated revenues and net investment gains ...................... $ 733 $ 2,204
------------ ------------
------------ ------------

Revenues and income (loss) before income tax expense for the Company's
reportable operating segments, based on management's internal reporting
structure, were as follows:

Six Months Ended
June 30,
-----------------------------
2008 2007
------------ ------------
(In thousands)
Revenues and net investment gains:

Consulting in venture capital........................................ $ 264 $ 570
Life insurance and annuities ........................................ 417 1,511
------------ ------------
681 2,081
Reconciliation of segment amounts to consolidated amounts:
Interest income ..................................................... 52 123
------------ ------------
Consolidated revenues and net investment gains ...................... $ 733 $ 2,204
------------ ------------
------------ ------------
Income (loss) before income taxes:
Consulting in venture capital........................................ $ (453) $ (130)
Life insurance and annuities ........................................ 226 1,150
------------ ------------
(227) 1,020
Reconciliation of segment amounts to consolidated amounts:
Interest income...................................................... 52 123
Corporate expenses................................................... (904) (770)
------------ ------------
Consolidated income (loss) before income tax expense ................ $ (1,079) $ 373
------------ ------------
------------ ------------

Note 9. Client Concentration

The Group's revenues are from a limited number of clients. In the first six
months of 2008, the Group's largest consulting client accounted for 22% of its
consolidated revenues. No other consulting client accounted for more than 10% of
consolidated revenues.

Note 10. Executive Officer Employment Agreement

On August 12, 2008, the Company gave notice to Mr. Ian K. Whitehead, Chief
Financial Officer, that his employment agreement would end on June 30, 2009.
Reference is made to Exhibit 10.3.1 to the Company's Form 10-K for the year
ended December 31, 2000 for a copy of Mr. Whitehead's employment agreement and
to the Company's Proxy Statement dated April 29, 2008 for a description of his
salary waiver of May 2003. In connection with the notice to end his employment
agreement reference above, Mr. Whitehead gave notice to the Company that he has
rescinded his salary waiver. The Company's operating expenses will increase by
approximately $0.7 million during the 12 months ending June 30, 2009.

Note 11. Related Party Transactions

The Company had no related party transactions during the first six months
of 2008 that have materially affected the financial position or the performance
of the Company during that period, and there were no changes in the related
party transactions described in our Annual Report for 2007 that could have a
material effect on the financial position or performance of the Company in the
first six months of 2008.

Note 12. Principal Risks and Uncertainties

We consider the principal risks and uncertainties for the remaining six
months of 2008 to be the following: (1) the level of consulting fee revenues is
expected to be volatile depending on the nature and extent of our work at any
point in time, particularly in the current economic environment; (2) by their
very nature, venture capital investments are risky, and the private equity
investments held by the Company's insurance subsidiary could decline in value;
and (3) U.S. dollar interest rates have fallen significantly this year and could
continue to fall further, thereby reducing our interest income.

Responsibility and Cautionary Statements

Responsibility Statement

We confirm that to the best of our knowledge:

The condensed set of consolidated financial statements for the six
months ended June 30,2008 included in this interim report, which has
been prepared in conformity with United States generally accepted
accounting principles ("U.S. GAAP"), gives a true and fair view of the
assets, liabilities, financial position and profit or loss of the
Company;

This interim report includes a fair review of the information required
by the Financial Services Authority's Disclosure and Transparency
Rules ("DTR") 4.2.7 R (an indication of important events that have
occurred during the first six months of the financial year and a
description of principal risks and uncertainties for the remaining six
months of the financial year); and

This interim report includes a fair review of the information required
by DTR 4.2.8 R (disclosure of related party transactions and changes
therein).

Cautionary Statement

This report is addressed to shareholders of Berkeley Technology Limited and
has been prepared solely to provide information to them.

This report is intended to inform the shareholders of the Company's
performance during the six months ended June 30, 2008. Statements contained
herein which are not historical facts are forward-looking statements that
involve a number of risks and uncertainties that could cause the actual results
of the future events described in such forward-looking statements to differ
materially from those anticipated in such forward-looking statements. Factors
that could cause or contribute to deviations from the forward-looking statements
include, but are not limited to, (i) variations in demand for the Company's
products and services, (ii) the success of the Company's new products and
services, (iii) significant changes in net cash flows in or out of the Company's
businesses, (iv) fluctuations in the performance of debt and equity markets
worldwide, (v) the enactment of adverse state, federal or foreign regulation or
changes in government policy or regulation (including accounting standards)
affecting the Company's operations, (vi) the effect of economic conditions and
interest rates in the U.S., the U.K. or internationally, (vii) the ability of
the Company's subsidiaries to compete in their respective businesses, (viii) the
ability of the Company to attract and retain key personnel, and (ix) actions by
governmental authorities that regulate the Company's businesses, including
insurance commissions. The Company undertakes no obligation to update any
forward-looking statements, whether as a result of new information, future
developments or otherwise.

On behalf of the Board

Ian K. Whitehead
Chief Financial Officer
August 13, 2008

*****

Please address any inquiries to:

Ian Whitehead Jersey (0)1534 607700
Chief Financial Officer
Berkeley Technology Limited

Form 10-Q for the quarter ended June 30, 2008

A copy of the above document will be submitted to the U.K. Listing Authority and
will be shortly available for inspection at the U.K. Listing Authority's
Document Viewing Facility, which is situated at:

Financial Services Authority
25 The North Colonnade
Canary Wharf
London
E14 5HS

Tel: 020 7676 1000