08:31     FORTUNE TELECOM<00110> - Results Announcement                       

    Fortune Telecom Holdings Limited announced on 15/04/2005:                 
    (stock code: 00110 )                                                      
    Year end date: 31/12/2004                                                 
    Currency: HKD                                                             
    Auditors' Report: Unqualified                                             
                                                                              
                                                            (Audited   )      
                                         (Audited   )       Last              
                                         Current            Corresponding     
                                         Period             Period            
                                         from 01/04/2004    from 01/04/2003   
                                         to 31/12/2004      to 31/03/2004     
                                   Note  ('000      )       ('000      )      
    Turnover                           : 2,086,140          1,947,201         
    Profit/(Loss) from Operations      : 64,597             54,796            
    Finance cost                       : (12,788)           (16,549)          
    Share of Profit/(Loss) of                                                 
      Associates                       : 0                  0                 
    Share of Profit/(Loss) of                                                 
      Jointly Controlled Entities      : N/A                N/A               
    Profit/(Loss) after Tax & MI       : 42,916             31,627            
    % Change over Last Period          : N/A       %                          
    EPS/(LPS)-Basic (in dollars)       : 0.142              0.105             
             -Diluted (in dollars)     : N/A                N/A               
    Extraordinary (ETD) Gain/(Loss)    : N/A                N/A               
    Profit/(Loss) after ETD Items      : 42,916             31,627            
    Final Dividend                     : HK$0.0375          HK$0.05           
      per Share                                                               
    (Specify if with other             : N/A                N/A               
      options)                                                                
                                                                              
    B/C Dates for                                                             
      Final Dividend                   : 23/06/2005         to 28/06/2005 bdi.
    Payable Date                       : 28/07/2005                           
    B/C Dates for Annual                                                      
      General Meeting                  : 23/06/2005         to 28/06/2005 bdi.
    Other Distribution for             : N/A                                  
      Current Period                                                          
                                                                              
    B/C Dates for Other                                                       
      Distribution                     : N/A                                  
                                                                              
    Remarks:                                                                  
                                                                              
    1.      Basis of preparation and accounting policies                      
                                                                              
    During the period, the Company changed its financial year end date from 31
    March to 31 December in order to coincide with that of the major          
    subsidiaries operating in the People!|s Republic of China (the "PRC"), of 
    which year end date is set at 31 December each year by the PRC            
    registration.                                                             
                                                                              
    The consolidated financial statements for the current period cover the    
    nine months period from 1 April 2004 to 31 December 2004. The             
    corresponding comparative amounts shown for the consolidated income       
    statement and related notes cover a twelve months period from 1 April 2003
    to 31 March 2004 and therefore may not be comparable with amounts shown   
    for the current period.                                                   
                                                                              
    The financial statements have been prepared under the historical cost     
    convention, as modified for the revaluation of investment property and    
    other investments, and in accordance with accounting principles generally 
    accepted in Hong Kong.                                                    
                                                                              
    In 2004, the Hong Kong Institute of Certified Public Accountants issued a 
    number of new or revised Hong Kong Accounting Standards and Hong Kong     
    Financial Reporting Standards ("HKFRS(s)") (herein collectively referred  
    to as "new HKFRS(s)") which are effective for accounting periods beginning
    on or after 1 January 2005. The Group has not early adopted these new     
    HKFRS(s) in the financial statements for the nine months period ended 31  
    December 2004.                                                            
                                                                              
    The Group has commenced considering the potential impact of these new     
    HKFRS(s) but is not yet in a position to determine whether these new      
    HKFRS(s) would have a significant impact on how its results of operations 
    and financial position are prepared and presented. These new HKFRS(s) may 
    result in changes in the future as to how the results and financial       
    position are prepared and presented.                                      
                                                                              
    2.      Earnings per share                                                
                                                                              
    The calculation of the basic earnings per share is based on the net profit
    for the period of HK$42,916,000 (1.4.2003 to 31.3.2004: HK$31,627,000) and
    on 302,100,000 (31.3.2004: 302,100,000) ordinary shares in issue during   
    the period/year.                                                          
                                                                              
    For more details, please refer to the press announcement today.