Marketingforce Management Ltd — Earnings Release 2001

May 24, 2001

Listed Company Information

CITY TELECOM<1137> - Results Announcement (Summary) City Telecom (H.K.) Limited announced on 24/5/2001: (stock code: 1137) Please refer to the press announcement for the details of the auditors' and audit committee's review report on the interim financial statement, to be issued by the Company on 25/5/2001. Year end date: 31/8/2001 Currency: HKD (Unaudited) (Unaudited) Last Current Corresponding Period Period from 1/9/2000 from 1/9/1999 to 28/2/2001 to 29/2/2000 ('000) ('000) Turnover : 509,444 650,599 Profit/(Loss) from Operations : 6,833 (50,779) Finance cost : (1,584) (1,342) Share of Profit/(Loss) of Associates : - - Share of Profit/(Loss) of Jointly Controlled Entities : - - Profit/(Loss) after Tax & MI : 5,817 (52,531) % Change over Last Period : N/A EPS/(LPS)-Basic : 1.2 cents (11.4 cents) -Diluted : 1.2 cents N/A Extraordinary (ETD) Gain/(Loss) : - - Profit/(Loss) after ETD Items : 5,817 (52,531) Interim Dividend per Share : 1 cent Nil (Specify if with other options) : - - B/C Dates for Interim Dividend : 13/6/2001 to 15/6/2001 bdi. Payable Date : 28/6/2001 B/C Dates for (-) General Meeting : N/A Other Distribution for Current Period : - B/C Dates for Other Distribution : - Remarks: 1. Comparative As a result of adoption of Hong Kong Statement of Standard Accounting Practice ("HKSSAP") No. 25 "Interim Financial Reporting" and revised HKSSAP No. 1 "Presentation of Financial Statements" which became effective for current period, certain comparative figures have been extended accordingly. 2. The basis of calculation for basic EPS and diluted EPS of the current period : Six months ended 28th February -------------------------- 2001 2000 HK$'000 HK$'000 Profit/(loss) for the period 5,817 (52,531) ========================== Number of Number of shares in shares in thousand thousand Weighted average number of shares in issue 490,439 459,247 Incremental shares from assumed exercise of share options 4,776 6,989 -------------------------- Diluted weighted average number of shares 495,215 466,236 ========================== (a) Earnings/(loss) per share are calculated based on weighted average number of issued ordinary shares and, as appropriate, diluted ordinary share equivalent outstanding for each of the relevant periods and the related income amount. The number of incremental shares from assumed exercised of stock options has been determined using the treasury stock method. (b) Diluted loss per share for the six months ended 29th February 2000 has not been presented as the conversion of potential ordinary shares to ordinary shares would have anti-dilutive effective to the basic loss per share.