ALPHA GENERAL<00073> - Results Announcement

Alpha General (Holdings) Limited announced on 15/12/2003:
(stock code: 00073 )
Year end date: 31/03/2004
Currency: HKD
Auditors' Report: N/A
Review of Interim Report by: Both Audit Committee and Auditors

                                                        (Unaudited )
                                     (Unaudited )       Last
                                     Current            Corresponding
                                     Period             Period
                                     from 01/04/2003    from 01/04/2002
                                     to 30/09/2003      to 30/09/2002 
                               Note  ($         )       ($         )
Turnover                           : 113,778,000        219,266,000       
Profit/(Loss) from Operations      : (8,235,000)        3,814,000         
Finance cost                       : (411,000)          (858,000)         
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       : (8,761,000)        1,606,000         
% Change over Last Period          : N/A       %
EPS/(LPS)-Basic (in dollars)       : (0.0451)           0.0082            
         -Diluted (in dollars)     : N/A                0.0082            
Extraordinary (ETD) Gain/(Loss)    : N/A                N/A               
Profit/(Loss) after ETD Items      : (8,761,000)        1,606,000         
Interim Dividend                   : NIL                NIL               
  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:


1. (LOSS) EARNINGS PER SHARE

The calculation of the basic and diluted (loss) earnings per share for the 
period is based on the following data :

                                                Six months ended
                                         30.9.2003              30.9.2002
                                         HK$'000                HK$'000
                                                                (restated)

(Loss) earnings for the purposes of 
  basic and diluted
(loss) earnings per share (net (loss) 
  profit for the period)                (8,761)                 1,606
                                        ========                ======

Weighted average number of ordinary 
  shares for the purpose of basic 
  earnings per share                   194,165,900             195,761,097

Effect of dilutive potential 
  ordinary shares :
Share options                           N/A                     312,000
                                        ------------            ----------
Weighted average number of ordinary
  shares for the purposes of diluted 
  (loss) earnings per share             N/A                    196,073,097
                                        ============            ==========

The weighted average number of ordinary shares for the purposes of basic 
and diluted earnings per share for the period ended 30th September, 2002 
has been adjusted for the share consolidation on 28th January, 2003.

The computation of diluted loss per share for the six months ended 30th 
September, 2003 does not assume the exercise of the shares options since 
their exercise would result in a reduction in loss per share.

2.      Comparative figures for the corresponding period 30/9/2002 had 
been restated.