MEDIANATION<08160> - Results Announcement (Q1, 2004, Summary)

MediaNation Inc. announced on 10/05/2004:
(stock code: 08160)

Year end date                         :31/12/2004
Currency                              :HKD
Auditors' report                      :N/A
1st Quarterly Report Reviewed by       Audit Committee

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 01/01/2004   from 01/01/2003
                                         to 31/03/2004     to 31/03/2003
                                                 $'000             $'000

Turnover                              :         86,336            76,175
Profit/(Loss) from Operations         :       (11,269)          (48,091)
Finance cost                          :           (10)             (207)
Share of Profit/(Loss) of Associates  :          5,942             2,624
Share of Profit/(Loss) of Jointly
         Controlled Entites           :            N/A               N/A
Profit/(Loss) after Taxation & MI     :        (7,094)          (46,154)
% Change Over the Last Period         :            N/A
EPS / (LPS)
          Basic (in dollar)           :   (HKD 0.0039)      (HKD 0.0768)
          Diluted (in dollar)         :            N/A               N/A
Extraordinary (ETD) Gain/(Loss)       :            N/A               N/A
Profit (Loss) after ETD Items         :        (7,094)          (46,154)
1st Quarter Dividends per Share       :            NIL               NIL
(specify if with other options)       :            N/A               N/A
B/C Dates for 1st Quarter Dividends   :            N/A
Payable Date                          :            N/A
B/C Dates for (-) General Meeting     :            N/A
Other Distribution for Current Period :            NIL
B/C Dates for Other Distribution      :            N/A

                                        For and on behalf of
                                          MediaNation Inc.

                            Signature :
                            Name      :    Yuen Kam Sun
                            Title     :   Company Secretary

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.

Remarks:
	
1. Loss per share

   In August 2003, 1,202,325,990 shares of HK$0.10 each were
   issued to the public by way of an open offer, for a total
   consideration of approximately HK$120.2 million before related
   issuing expenses.  These ordinary shares are included in the
   calculation of weighted average number of shares for the
   period under review.

(a) Basic loss per share

    The calculation of basic loss per share for the three months
    ended 31st March 2004 is based on the Group's net loss
    attributable to shareholders of approximately HK$7,094,000
    (three months ended 31st March 2003: approximately
    HK$46,154,000), divided by the weighted average number of
    1,803,488,985 ordinary shares outstanding during the
    period (three months ended 31st March 2003: 601,162,995
    ordinary shares).  As at 31st March 2004, there
    were 1,803,488,985 shares in issue, following the completion
    of the open offer in August 2003.

(b) Diluted loss per share

    No diluted loss per share for the three months ended
    31st March 2004 and 2003 is presented because the effect of
    the assumed conversion of all potential dilutive ordinary
    shares is anti-dilutive.