Quarterly Results announcement form
     
Name of listed company                  :Fortune Telecom Holdings Limited
     
Stock code                              :8040
     
Year end date                           :31/03/2003
     
Auditors' report :                       Modified
                                         Qualified
                                         Unqualified
                                     X   N/A
            
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
     
Currency: HK$'000
                                             (Unaudited)       (Unaudited)
Quarterly Results Announcement               Current    Last Corresponding
                                             Period           Period
                                         from 01/04/2002   from 01/04/2001
                                           to 30/06/2002     to 30/06/2001
                                                 HK$'000           HK$'000
     
Turnover                                :        767,342           673,345
Profit/(Loss) from Operations           :         38,752            16,774
Finance cost                            :         -4,055            -4,304
Share of Profit/(Loss) of Associates    :            -39               -59
Share of Profit/(Loss) of
     Jointly Controlled Entites         :              0                 0
Profit/(Loss) after Taxation & MI       :         28,234            15,107
% Change Over the Last Period           :       86.89  %
EPS / (LPS) - Basic                     :      9.3 cents         5.0 cents
            - Diluted                   :            N/A               N/A
Extraordinary (ETD) Gain/(Loss)         :              0                 0
Profit (Loss) after ETD Items           :         28,234            15,107
1st Q Dividend per Share                :            Nil               Nil
(specify if with other options)         :            N/A               N/A
B/C Dates for  1st 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 and individually accept full responsibility for the
accuracy of the information contained in this results announcement form
(the "Information") and confirm, having made all reasonable inquiries, that
to the best of their knowledge and belief the Information are accurate and
complete in all material respects and not misleading and that there are no
other matters the omission of which would make the Information herein
inaccurate or misleading. The Directors acknowledge that the Stock
Exchange has no responsibility whatsoever with regard to the Information
and undertake to indemnify the Exchange against all liability incurred and
all losses suffered by the Exchange in connection with or relating to
the Information.
     
Remark:
     
1. Basis of preparation and accounting policies
     
The consolidated financial statements incorporate the
financial statements of the Company and its subsidiaries
for the three months ending 30th June, 2002.
     
All significant inter-company transactions and balances 
within the Group are eliminated on consolidation. 
     
The accounting policies and methods of computation used 
in the preparation of the financial statements are 
consistent with those used in the annual audited 
financial statements for the year ended 
31st March, 2002.
     
2. Earnings per share
     
The calculation of the basic earnings per share is based 
on the profit for the period of HK$28,234,000 (2001: 
HK$15,107,000) and on the weighted average number of 
302,100,000 shares (2001: 300,000,000 shares ) in issue 
during the period.