M TEL<08266> - Results Announcement (Q1, 2003/2004, Summary)

Mobile Telecom Network (Holdings) Limited announced on 6 August 2003:
(stock code: 08266)

Year end date                         :31/03/2004
Currency                              :HKD
Auditors' report                      :N/A
Review of 1st Quarterly Report 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

                                           (Unaudited)       (Unaudited)
                                              Current Last Corresponding
                                               Period             Period
                                       from 01/04/2003   from 01/04/2002
                                         to 30/06/2003     to 30/06/2002
                                                   HK$               HK$

Turnover                              :        600,486           943,824
Profit/(Loss) from Operations         :    (2,202,575)       (2,242,985)
Finance cost                          :       (17,312)                 0
Share of Profit/(Loss) of Associates  :              0                 0
Share of Profit/(Loss) of Jointly
         Controlled Entites           :              0                 0
Profit/(Loss) after Taxation & MI     :    (2,219,887)       (2,243,947)
% Change Over the Last Period         :            N/A
          Basic (in dollar)           :   (HKD 0.0056)      (HKD 0.0069)
          Diluted (in dollar)         :            N/A               N/A
Extraordinary (ETD) Gain/(Loss)       :              0                 0
Profit (Loss) after ETD Items         :    (2,219,887)       (2,243,947)
1st Quarterly Dividends per Share     :            NIL               NIL
(specify if with other options)       :            N/A               N/A
B/C Dates for 1st Quarterly 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
                                       Mobile Telecom Network (Holdings) Limited
                            Signature :
                                 Name :Chan Wai Kwong
                                Title :Executive Director

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.


1.      Principal accounting policies

These unaudited consolidated condensed accounts have been prepared
in accordance with Hong Kong Statement of Standard Accounting
Practice ("SSAP") 25 issued by the Hong Kong Society of Accountants.

The principal accounting policies adopted in the preparation of
these quarterly accounts are consistent with those used in the
annual accounts for the year ended 31 March 2003, except that the
Group has adopted the new and revised SSAPs which became effective
on 1 January 2003. The adoption of these new and revised SSAPs has
no material effect on the Group's results.

All significant intercompany transactions and balances within the
Group are eliminated on consolidation.

2.      Turnover

                                              For the     For the
                                              three       three
                                              months      months
                                              ended 30    ended 30
                                              June        June
                                              2003        2002
                                              HK$         HK$
Sales of MobileSurf-installed pocket          140,250      13,220
personal computers and computer accessories
Subscription fees from provision of            13,975      34,924
MobileSurf service
Service fees from provision of mobile data    398,261     345,680
solutions and related services
Fees for development of customised software         -     500,000
Fees for provision of mobile messaging         48,000      50,000
                                              600,486     943,824

3.      Taxation

The Company was incorporated in the Cayman Islands as an exempted
company with limited liability under the Companies Law of the
Cayman Islands and, accordingly, is exempted from Cayman Islands
income tax. Subsidiaries incorporated in the British Virgin Islands
were exempted companies with limited liability under the Companies
Law of the British Virgin Islands and, accordingly, are exempted
from British Virgin Islands income tax.

No provision for Hong Kong profits tax has been made as the Group
had no assessable profit arising in or derived from Hong Kong for
the three months ended 30 June 2003 (three months ended 30 June
2002: Nil). No provision for overseas (Singapore, Taiwan and the
United States of America) income taxes has been made as the
 Group operating in these countries were operating at a
loss for the three months ended 30 June 2003 (three months ended 30
June 2002: Nil).

There was no significant unprovided deferred taxation for the
period under review.

4.     Dividend

The Directors do not recommend the payment of a dividend for the
three months ended 30 June 2003 (three months ended 30 June 2002:

5.      Loss per share

The calculation of basic loss per share is based on the unaudited
net loss attributable to shareholders for the three months ended 30
June 2003 of approximately HK$2,219,887 (three months ended 30 June 
2002: HK$2,243,947), and on the weighted average number of approximately
394,065,934 shares in issue for the three months ended 30 June 2003
(three months ended 30 June 2002: 325,793,053).

No diluted loss per share is presented as there were no dilutive
potential ordinary shares during the periods.