Joy Spreader Group Inc. — Earnings Release 2004

Feb 13, 2004

GEM

MEGAINFO<08279> - Results Announcement (Q2, 2003/2004, Summary)

MegaInfo Holdings Limited announced on 13/02/2004:
(stock code: 08279 )

Year end date :30/06/2004
Currency :HKD
Auditors' report :N/A
2nd Quarterly Report Reviewed by :Audit Committee

Important Note :

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)
                                          Current Last Corresponding
                                           Period            Period
                                   from 01/07/2003   from 01/07/2002
                                     to 31/12/2003     to 31/12/2002
                                               HK$               HK$

Turnover : 4,730,044 2,456,920
Profit/(Loss) from Operations : (1,552,385) 434,351
Finance cost : (35) N/A
Share of Profit/(Loss) of Associates : N/A N/A
Share of Profit/(Loss) of Jointly
Controlled Entites : N/A N/A
Profit/(Loss) after Taxation & MI : (1,552,420) 434,351
% Change Over the Last Period : N/A
EPS / (LPS)
Basic (in dollar) : (HKD 0.0037) HKD 0.0011
Diluted (in dollar) : N/A N/A
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit (Loss) after ETD Items : (1,552,420) 434,351
2nd Quarter Dividends per Share : NIL NIL
(specify if with other options) : N/A N/A
B/C Dates for 2nd Quarter Dividends : N/A
Payable Date : N/A
B/C Dates for (-) General Meeting : N/A
Other Distribution for Current Period : NIL
B/C Dates for Other Distribution : N/A

        For and on behalf of
        MegaInfo Holdings Limited

Signature :
Name : Cheung Yiu Leung
Title : Company Secretary

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
to the Information and undertake to indemnify the Exchange against all
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.

1. Significant accounting policies
   The combined results have been prepared in accordance with generally
   accepted accounting principles in Hong Kong and comply with accounting
   standards issued by the Hong Kong Society of Accountants.

The accounting policies in the preparation of these interim accounts
are consistent with those used in the accountants' report set out in
the Prospectus.

1. Taxation

No provision for PRC profits tax and Macau complementary profit tax
have been made in the accounts as the Group has estimated tax losses
brought forward to offset estimated assessable profits for the period
ended 31st December 2002 and does not have any estimated assessable
profits for the period ended 31st December 2003.

There is no material unprovided deferred taxation for the periods
under review.

1. (Loss)/earnings per share

The calculation of basic loss per share for the three months and six
months ended 31st December 2003 is based on the unaudited net loss of
approximately HK$1,005,000 and HK$1,550,000 (three months and six
months ended 31st December 2002: net profit approximately HK$484,560
and HK$434,351 respectively) and on the assumption that 414,625,000
Shares had been in issue throughout the periods under review, comprising
13,000,000 Shares then in issue and 401,625,000 to be issued by way of
capitalisation issue as described in the Prospectus.

No diluted earning per share has been presented for each of the relevant
periods under review as no diluting events existed.