401 HOLDINGS<00401> - Results Announcement (Summary)

401 Holdings Limuited announced on 27/12/2001:
(stock code: 401)
Year end date: 31/3/2002
Currency: HKD                                               (Unaudited)
                                           (Unaudited)      Last
                                           Current          Corresponding
                                           Period           Period
                                           from 1/4/2001    from 1/4/2000
                                           to 30/9/2001     to 30/9/2000
                                           ('000)           ('000)
Turnover                                 : 11,950           46,739
Profit/(Loss) from Operations            : (36,967)         (37,960)
Finance cost                             : (1,987)          (1,890)
Share of Profit/(Loss) of Associates     : (213)            (302)
Share of Profit/(Loss) of
  Jointly Controlled Entities            : -                -
Profit/(Loss) after Tax & MI             : (36,186)         (36,541)
% Change over Last Period                : N/A
EPS/(LPS)-Basic                          : (0.26 cent)      (0.37 cent)
         -Diluted                        : N/A              N/A
Extraordinary (ETD) Gain/(Loss)          : -                -
Profit/(Loss) after ETD Items            : (36,186)         (36,541)
Interim Dividend per Share               : NIL              NIL
(Specify if with other options)          : -                -
B/C Dates for Interim Dividend           : N/A
Payable Date                             : N/A
B/C Dates for (-) General Meeting        : N/A
Other Distribution for Current Period    : N/A
B/C Dates for Other Distribution         : N/A

Remarks:

(1) Loss from operations

Loss from operations for the period has been arrived at after charging
/ (crediting) the following:-
                                                  (Unaudited)
                                               Six months ended
                                            30 September     30 September 
                                            2001             2000
                                            HK$'000          HK$'000
Waiver of debts                            (94)             (8,196)
Loss on disposal of subsidiaries           9,379            4
                                           =====            =====

(2) Loss per share

The calculation of basic loss per share is based on the following data:
                                                   (Unaudited)
                                                  Six months ended
                                            30 September    30 September 
                                            2001             2000
                                            HK$'000          HK$'000
Loss
Net loss for the period                    36,186           36,541
Dividend for preference shares             319              458
                                           -------          --------
Loss for the purpose of basic loss per 
 share                                     36,505           36,999
                                           =======          =======
Number of shares
Weighted average number of shares
  for the purpose of basic loss per share  13,989,261,136   10,054,421,911
                                           =============    =============
Loss per share
  Basic                                    0.26 cents       0.37 cents
                                           ========         ========

Diluted loss per share for the period has not been presented as the
effect of any dilution is anti-dilutive.