Wisdomcome Group Holdings Ltd. — Earnings Release 2002

Apr 17, 2002

Quarterly Results announcement form

Name of listed company :Rainbow International Holdings Limited

Stock code :8079

Year end date :31/10/2002

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

Currency: HK$'000
(Unaudited) (Audited)
Quarterly Results Announcement Current Last
Corresponding
Period Period
from 1/11/2001 from 1/11/2000
to 31/1/2002 to 31/1/2001
HK$'000 HK$'000

Turnover : 23,913 29,205
Profit/(Loss) from Operations : (2,867) 274
Finance cost : (742) (1,094)
Share of Profit/(Loss) of Associates : 0 0
Share of Profit/(Loss) of
Jointly Controlled Entites : 0 0
Profit/(Loss) after Taxation & MI : (3,609) (820)
% Change Over the Last Period : N/A %
EPS / (LPS) - Basic : (1.03) cents (0.23) cent
- Diluted : (0.98) cent (0.22) cent
Extraordinary (ETD) Gain/(Loss) : 0 0
Profit (Loss) after ETD Items : (3,609) (820)
1st Q Dividend per Share : Nil Nil
(specify if with other options) : Nil Nil
B/C Dates for 1st 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
                                    Rainbow International Holdings Limited
                       Signature :
                       Name      :             Li Ngar Kwan, Aldy
                       Title     :                 Chairperson

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.

Remarks:

1. Basis Of Preparation

The principle accounting policies adopted in preparing the unaudited
consolidated results of the Group conform to accounting principles
generally accepted in Hong Kong and accounting standards issued by
the Hong Kong Society of Accountants and the disclosure requirements
of the Hong Kong Companies Ordinance and GEM Listing Rules.

2 Turnover

Turnover represents the invoiced value of beauty products sold less
discounts and sales returns and services income generated from the
provision of beauty services during the period after the elimination
of all material inter-company transactions within "Rainbow Group"

1. Other Revenue

Other revenue mainly consists of interest income and sundries income
during the period.

1. Taxation

No provision has been made for Hong Kong profit tax as Rainbow Group
sustained a loss for taxation purposed during the period.

1. Loss Per Share

(a) - Basic

The calculation of basis loss per share for the three month ended
31st January, 2002 is based on the loss attributable to shareholders
of approximately HK$3,609,000(2001 : Approximately HK$ 820,000) and on
the weighted average number of 350,000,000 (2001:350,000,000) shares
after adjusting for the effects of capitalization issue following the
initial public offering of the Company's shares

(b) - Diluted

The calculation of diluted loss per share for the three months ended
31st January, 2002, is based on the loss attributable to shareholders
of approximately HK$3,609,000 (2001 : a loss of approximately
HK$820,000) and the 367,500,000 (2001: 367,500,000) shares, which
represented the 350,000,000 shares deemed to be in issue throughout
the yearon the assumption that the reorgainsation had been completed
on 1st November, 1998 and after adjusting for the number of shares
which are deemed to have been issued for no condsideration under
the Pre-IPO Share Option Scheme as defined in the prospectus of the
Company dated 28th September, 2001 based on the scbscription price
per share at HK$0.25.