ASIA ALUMINUM<00930> - Results Announcement (Summary)

Asia Aluminum Holdings Limited announced on 18/10/2002:
(stock codes: Ord: 930 & War: 314)
Year end date: 30/6/2002
Currency: HKD
Auditors' Report: Unqualified
Review of Interim Report by: N/A

                                                            (Audited)
                                           (Audited)        Last
                                           Current          Corresponding
                                           Period           Period
                                           from 1/7/2001    from 1/7/2000
                                           to 30/6/2002     to 30/6/2001
                                           ('000)           ('000)
Turnover                                 : 1,965,696        2,061,929
Profit/(Loss) from Operations            : 253,436          351,833
Finance cost                             : (42,372)         (65,394)
Share of Profit/(Loss) of Associates     : -                -
Share of Profit/(Loss) of
  Jointly Controlled Entities            : -                -
Profit/(Loss) after Tax & MI             : 131,409          195,450
% Change over Last Period                : -32.7%
EPS/(LPS)-Basic                          : 5.78 cents       9.02 cents
         -Diluted                        : 5.31 cents       8.41 cents
Extraordinary (ETD) Gain/(Loss)          : -                -
Profit/(Loss) after ETD Items            : 131,409          195,450
Final Dividend per Share                 : 1.5 cents        1.0 cent
(Specify if with other options)          : -                -
B/C Dates for Final Dividend             : 4/12/2002 to 9/12/2002 bdi.
Payable Date                             : 16/12/2002
B/C Dates for Annual General Meeting     : 4/12/2002 to 9/12/2002 bdi.
Other Distribution for Current Period    : N/A
B/C Dates for Other Distribution         : N/A

Remarks:

1.      Certain comparative amounts for the year ended 30 June 2001 have 
been restated to conform with current year's presentation.

2.      No analysis of turnover from continuing operations and 
discontinued operations is made as all turnover is derived from continuing 
operations in both years.

3.      An analysis of profit from continuing operations and discontinued 
operations is as follows: -

                        Year ended              Year ended
                        30/06/2002              30/06/2001
                        HK$'000                 HK$'000

Profit from operating activities                        
Continuing              244,949                 371,731
Discontinued            8,490                   (19,898)
                        ----------              ----------
                        253,439                 351,833
                        ========                ========

4.      The calculation of basic earnings per share is based on the net 
profit attributable to shareholders for the year of HK$131,409,000 (2001: 
HK$195,450,000) and the weighted average number of 2,273,832,402 (2001: 
2,166,223,638) ordinary shares in issue during the year.

        The calculation of diluted earnings per share is based on the net 
profit attributable to shareholders for the year of HK$133,213,000 (2001: 
HK$197,209,000) and on 2,508,071,214 (2001: 2,343,644,203) ordinary 
shares, being the weighted average number of ordinary shares outstanding 
during the year, adjusted for the effects of dilutive potential ordinary 
shares outstanding during the year.

5.      The directors of the Company proposed the payment of a final 
dividend of HK 1.5 cents per ordinary for the year ended 30 June 2002, 
payable to shareholders whose names appear on the Register of Members of 
the Company on 9 December 2002.  Dividend warrants are to be dispatched to 
the shareholders on or about 16 December 2002.