09:07     VTECH HOLDINGS<00303> - Results Announcement                        

    VTech Holdings Limited announced on 27/11/2002:                           
    (stock code: 303)                                                         
    Year end date: 31/3/2003                                                  
    Currency: USD                                                             
    Auditors' Report: N/A                                                     
    Review of Interim Report by: Audit Committee                              
                                                                              
                                                                (Unaudited)   
                                               (Unaudited)      Last          
                                               Current          Corresponding 
                                               Period           Period        
                                               from 1/4/2002    from 1/4/2001 
                                               to 30/9/2002     to 30/9/2001  
                                               ('Million)       ('Million)    
    Turnover                                 : 468.7            529.6         
    Profit/(Loss) from Operations            : 53.6             11.3          
    Finance cost                             : (1.3)            (6.5)         
    Share of Profit/(Loss) of Associates     : (0.4)            (0.2)         
    Share of Profit/(Loss) of                                                 
      Jointly Controlled Entities            : -                -             
    Profit/(Loss) after Tax & MI             : 50.1             3.3           
    % Change over Last Period                : +1,418%                        
    EPS/(LPS)-Basic                          : US 22.2 cents    US 1.5 cents  
             -Diluted                        : US 22.2 cents    US 1.5 cents  
    Extraordinary (ETD) Gain/(Loss)          : -                -             
    Profit/(Loss) after ETD Items            : 50.1             3.3           
    Interim Dividend per Share               : US 1.5 cents     NIL           
    (Specify if with other options)          : N/A              N/A           
    B/C Dates for Interim Dividend           : 20/12/2002 to 27/12/2002 bdi.  
    Payable Date                             : 6/1/2003                       
    B/C Dates for (-) General Meeting        : N/A                            
    Other Distribution for Current Period    : N/A                            
    B/C Dates for Other Distribution         : N/A                            
                                                                              
    Remarks:                                                                  
                                                                              
    (1) GAIN ON SETTLEMENT OF A LAWSUIT                                       
                                                                              
    On 25th January 2001, the Group filed a complaint against Lucent          
    Technologies Inc. ("Lucent") and Lucent Technologies Consumer Products,   
    L.P. in the United States District Court for the Southern District of New 
    York seeking damages and related relief arising out of the acquisition by 
    the Group of Lucent's Wired Consumer Products Business in 2000.           
                                                                              
    On 7th June 2002, the Group and Lucent settled the lawsuit filed by the   
    Group against Lucent in January 2001 in a mutually satisfactory manner.   
    There was no admission of wrongdoing by either party. Under the terms of  
    the settlement, Lucent has agreed to adjust the purchase price of the     
    acquisition downward by US$50.0 million.  The amount has been fully       
    settled.  The net receipt from the settlement, after deducting incidental 
    expenses, was credited to the consolidated income statement.              
                                                                              
                                            (Unaudited)                       
                                            Six months ended 30th September   
                                            2002                              
                                            US$ million                       
    Receipt from settlement of a lawsuit    50.0                              
    Less : incidental expenses              (16.0)                            
                                            ------                            
                                            34.0                              
                                            ======                            
    (2) EARNINGS PER SHARE                                                    
                                                                              
    The calculations of basic and diluted earnings per share are based on the 
    Group's profit attributable to shareholders of US$50.1 million (2001:     
    US$3.3 million).                                                          
                                                                              
    The basic earnings per share is based on the weighted average of 225.5    
    million  (2001: 225.5 million) ordinary shares in issue during the period.
    The diluted earnings per share is based on 225.5 million (2001 : 225.2    
    million) ordinary shares which is the weighted average number of ordinary 
    shares in issue during the period after adjusting for the weighted average
    number of ordinary shares deemed to be issued at no consideration if all  
    outstanding share options and warrants had been exercised at 30th         
    September 2002.  No ordinary shares are deemed to be issued at no         
    consideration during the period (2001:Nil).                               
                                                                              
    To conform with current year's presentation, diluted earnings per share in
    last corresponding period has been changed from US cents 1.4 per share to 
    US cents 1.5 per share.                                                   
                                                                              
    For more details, please refer to the press announcement today.