Quarterly Results announcement form

Name of listed company                 : Fortune Telecom Holdings Limited

Stock code                             : 8040

Year end date                          : 31/03/2002


Important Note :

This result announcement form only contains extracted information from and
should be read in conjunction with the detailed results announcement of
the issuer, which can be viewed on the GEM website at http://www.hkgem.com


                                        (Unaudited)         (Unaudited)
                                            Current  Last Corresponding
                                             Period              Period
                                    from 01/04/2001     from 01/04/2000
                                      to 31/12/2001       to 31/12/2000
                                            HK$'000             HK$'000

Turnover                             :    2,364,408             913,439
Profit/(Loss) from Operations        :       45,877              10,688
Finance cost                         :      -12,593              -6,778
Share of Profit/(Loss) of Associates :         -130                 -60
Share of Profit/(Loss) of
     Jointly Controlled Entites      :            0                   0
Profit/(Loss) after Taxation & MI    :       22,285               8,268
% Change Over the Last Period        :     169.53 %
EPS / (LPS) - Basic                  :    7.4 cents           2.8 cents
            - Diluted                :          N/A                 N/A
Extraordinary (ETD) Gain/(Loss)      :            0                   0
Profit (Loss) after ETD Items        :       22,285               8,268
3rd Q Dividend per Share             :          Nil                 Nil
(specify if with other options)      :          N/A                 N/A
B/C Dates for 3rd Q Dividend         :          N/A    to      N/A bdi.
Payable Date                         :                N/A
B/C Dates for AGM/SGM                :          N/A    to      N/A bdi.
Other Distribution for Current Period:                Nil
B/C Dates for Other Distribution     :          N/A    to      N/A bdi.
                                             (bdi: both days inclusive)

                                                         For and on behalf of
                                                         Fortune Telecom Holdings Limited
                            Signature:
                            Name     :                   Lau Siu Ying, Steve
                            Title    :                   Chairman

Responsibility statement

The directors of the Company (the "Directors") as at the date hereof hereby collectively
individually accept full responsibility for the accuracy of the information contained in
announcement form (the "Information") and confirm, having made all reasonable inquiries,
best of their knowledge and belief the Information are accurate and complete in all mater
and not misleading and that there are no other matters the omission of which would make t
Information herein inaccurate or misleading.The Directors acknowledge that the Stock Exch
no responsibility whatsoever with regard to the Information and undertake to indemnify th
against all liability incurred and all losses suffered by the Exchange in connection with
Information.

Remarks:

1. Unrealised gain on investment securities and unrealised 
   holding loss on other investments

   Profit after taxation and minority interests for the period ended 
   31st December 2001 included HK$7,795,000, being unrealised 
   holding loss on other investments which represents the deficit 
   arising on the revaluation of the investment in PacificNet.com LLC.
   The fair value of PacificNet.com as at 31st December 2001 was 
   determined with reference to the closing price of PacificNet.com 
   on Nasdaq National Market in the USA as at 31st December, 2001.

   Profit after taxation and minority interests for the corresponding
   period ended 31st December 2000 included HK$39,418,000 unrealised 
   gain on investment securities and HK$33,374,000 unrealised holding 
   loss on other investments.

2. Earnings per share ( EPS )

   The calculation of earnings per share for the period ended 
   31st December 2001 is based on the unaudited net profit of
   HK$22,285,000 ( 2000 : HK$ 8,268,000 ) and weighted average number
   of shares of 301,166,667 shares in issue during the period 
   ( 2000 : 300,000,000 shares )

3. Transfer to Reserves

   During the period, 2,100,000 shares was issued on 30th July 2001 as
   part of the consideration for the acquisition of 51% shareholdings
   in Synergy Pacific ( Holding ) Limited and an amount of
   HK$3,990,000 (2000: Nil) was transferred to share premium account.