ITE (Holdings) Limited — Earnings Release 2002

Feb 7, 2002

               Quarterly Results announcement form

Name of listed company : ITE (Holdings) Limited

Stock code : 8092

Year end date : 31/03/2002

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)
                                                                 Last

Quarterly Results Announcement Current Corresponding
Period Period
from 01/04/2001 from 01/04/2000
to 31/12/2001 to 31/12/2000
HK$'000 HK$'000

Turnover : 36,712 34,431
Profit/(Loss) from Operations : 7,142 12,351
Finance cost : 26 6
Share of Profit/(Loss) of Associates : 0 0
Share of Profit/(Loss) of
Jointly Controlled Entites : 0 0
Profit/(Loss) after Taxation & MI : 7,116 12,345
% Change Over the Last Period : -42.36 %
EPS / (LPS) - Basic : 0.79 cent 1.54 cents
- Diluted : 0.74 cent N/A
Extraordinary (ETD) Gain/(Loss) : 0 0
Profit (Loss) after ETD Items : 7,116 12,345
3rd Q Dividend per Share : 0 HK$1.00
(specify if with other options) : N/A N/A
B/C Dates for 3rd Q Dividend : N/A to N/A bdi.
Payable Date : N/A
B/C Dates for AGM/SGM : N/A to N/A bdi.
Other Distribution for Current Period : N/A
B/C Dates for Other Distribution : N/A to N/A bdi.
(bdi: both days inclusive)

                                       For and on behalf of
                                     ITE (Holdings) Limited
                         Signature :
                              Name : Lau Hon Kwong Vincent
                             Title : Chief Executive Officer

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.

Remark:
BASIS OF PREPARATION

Pursuant to a group reorganisation (the
"Reorganisation") in preparation for the listing of
the Company's shares on GEM, the Company became the
holding company of the companies comprising the
group on 18 November 2000. Under the merger basis of
accounting, the unaudited consolidated results of
the Group comprise the results of all companies now
comprising the Group as if the current Group
structure had been in existence throughout the
period(s) covered by this report or since their
respective dates of incorporation, where this
is a shorter period.

EARNINGS PER SHARE

The calculation of the basis earnings per share for
the nine months ended 31 December 2001 is based on
the profit attributable to shareholders for the
period of approximately HK$7,116,000 (nine months
ended 31 December 2000: approximately HK$12,345,000)
and 902,136,800 shares (nine months ended
31 December 2000: 800,000,000 shares) in issue
during the respective periods. In determining the
weighted average number of shares, a total of
800,000,000 shares issued after the incorporation
of the Company and the Reorganisation
immediately but before the issue of new shares to
the public pursuant to the listing of the Company's
share were deemed to have been issued since
1 April 2000.

The calculation of diluted earnings per share for the
period is based on the profit attributable to
shareholders for the period of approximately
HK$7,116,000 and the weighted average number of
ordinary shares of 962,978,333 shares after adjusting
for the effects of all dilutive potential ordinary
shares. The comparative diluted earnings per share
has not been calculated because no diluting events
existed during the period.