09:12     NETEL<08256> - Quarterly Results Announcement (2)                   

                                                                              
    2. Loss per share                                                         
                                                                              
    The calculation of basic loss per share  for the three months and nine    
    months ended 28 February 2005 are based on the Group's loss for the three 
    months and nine months ended 28 February 2005 of approximately HK$2,934,  
    000 and HK$9,140,000 respectively (three months and nine months ended 29  
    February 2004 : loss for the period of approximately HK$4,895,000 and     
    HK$12,656,000 respectively) and the weighted average of 386,230,000 and   
    389,675,897 shares in issue during the three and nine months ended 28     
    February 2005 (three months and nine months ended 29 February 2004        
    : 380,000,000 shares).                                                    
                                                                              
    Diluted loss per share for the current and priors periods is not presented
    as there is no dilutive instrument granted by the Company.