ALPHA GENERAL<00073> - Results Announcement

Alpha General (Holdings) Limited announced on 17/12/2002:
(stock code: 00073 )
Year end date: 31/3/2003
Currency: HKD
Auditors' Report: N/A
Review of Interim Report by: Both Audit Committee and Auditors

                                                        (Unaudited )
                                     (Unaudited )       Last
                                     Current            Corresponding
                                     Period             Period
                                     from 01/04/2002    from 01/04/2001
                                     to 30/09/2002      to 30/09/2001 
                               Note  ($         )       ($         )
Turnover                           : 219,266,000        302,090,000       
Profit/(Loss) from Operations      : 3,810,000          15,115,000        
Finance cost                       : (858,000)          (938,000)         
Share of Profit/(Loss) of 
  Associates                       : N/A                N/A               
Share of Profit/(Loss) of
  Jointly Controlled Entities      : N/A                N/A               
Profit/(Loss) after Tax & MI       : 1,727,000          11,982,000        
% Change over Last Period          : -85.59    %
EPS/(LPS)-Basic (in dollars)       : 0.0004             0.003             
         -Diluted (in dollars)     : 0.0004             0.003             
Extraordinary (ETD) Gain/(Loss)    : N/A                N/A               
Profit/(Loss) after ETD Items      : 1,727,000          11,982,000        
Interim Dividend                   : NIL                0.10 cent         
  per Share                                                               
(Specify if with other             : N/A                N/A               
  options)                                                                
                                                                          
B/C Dates for 
  Interim Dividend                 : N/A          
Payable Date                       : N/A       
B/C Dates for (-)            
  General Meeting                  : N/A          
Other Distribution for             : N/A           
  Current Period                     
                                     
B/C Dates for Other 
  Distribution                     : N/A          

Remarks:

Earnings per Share
The calculation of the basic and diluted earnings per share
for the period is based on the following data:

                                               Six months ended
                                           30/9/2002        30/9/2001
                                           HK$'000          HK$'000
Earnings for the purpose of basic and
  diluted earnings per share

Net profit for the period                  1,727            11,982
                                           =======          =======

Weighted average number of
  ordinary shares for the purpose
  of basic earnings per share              3,915,221,945    3,939,422,142

Effect of dilutive potential ordinary
  shares:
        Share options                      N/A              24,128,901
                                           -------------- ----------------
Weighted average number of ordinary
  shares for the purposes of diluted
  earnings per share                       3,915,221,945    3,963,551,043
                                           ============     ============

The computation of diluted earnings per share for the six
months ended 30th September, 2002 does not assume
the exercise of the Company's outstanding share options
as the exercise price of those options is higher than the
average market price of the shares for the period.