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

Mobile Telecom Network (Holdings) Limited announced on 31 May 2004:
(stock code: 08266 )

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

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

                                             (audited)         (audited)
                                              Current Last Corresponding
                                               Period            Period
                                       from 01/04/2003   from 01/04/2002
                                         to 31/03/2004     to 31/03/2003
                                               HK$'000           HK$'000

Turnover                              :         11,534             4,325
Profit/(Loss) from Operations         :        (8,426)           (8,721)
Finance cost                          :           (51)              (29)
Share of Profit/(Loss) of Associates  :              0                 0
Share of Profit/(Loss) of Jointly
         Controlled Entites           :            N/A               N/A
Profit/(Loss) after Taxation & MI     :        (8,544)           (8,750)
% Change Over the Last Period         :            N/A
          Basic (in dollar)           :   (HKD 0.0199)      (HKD 0.0267)
          Diluted (in dollar)         :        HKD N/A           HKD N/A
Extraordinary (ETD) Gain/(Loss)       :              0                 0
Profit (Loss) after ETD Items         :        (8,544)           (8,750)
Final Dividends per Share             :            NIL               NIL
(specify if with other options)       :            N/A               N/A
B/C Dates for Final Dividends         :            N/A
Payable Date                          :            N/A
B/C Dates for Annual General Meeting  :            N/A
Other Distribution for Current Period :            NIL
B/C Dates for Other Distribution      :            N/A
                                       (bdi: both days inclusive)

                                       For and on behalf of
                            Mobile Telecom Network (Holdings) Limited
                            Signature :
                                 Name :Yip Heung Yin
                                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
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.      Group reorganisation and basis of preparation

Mobile Telecom Network (Holdings) Limited (the "Company") was
incorporated in the Cayman Islands as an exempted company with limited
liability under the Companies Law of the Cayman Islands on 25 May 2000.
Pursuant to a group reorganisation (the "Reorganisation") in preparation
for the listing of the Company's shares on the Growth Enterprise Market
(the "GEM") of The Stock Exchange of Hong Kong Limited on 9 May 2003,
the Company became the holding company of the companies now
comprising the group (the "Group"). Details of the Reorganisation
are set out in Appendix IV of the prospectus dated 30 April 2003.
The Reorganisation is accounted for using merger accounting as
stipulated in the Hong Kong Statement of Standard Accounting Practice
("SSAP") 27 "Accounting for group reconstruction" issued by the Hong
Kong Society of Accountants ("HKSA"). The consolidated accounts of the
Group for the year ended 31 March 2004, including the comparative figures,
are prepared as if the Company had been the holding company of the Group
from the beginning of the years presented.
The accounts have been prepared under the historical cost convention
in accordance with accounting principles generally accepted in Hong Kong
and comply with accounting standards issued by the HKSA. In the current
year, the group has adopted SSAP12 (revised) "Income Taxes" issued by the
HKSA which is effective from accounting periods commencing on or after
1 January 2003. The adoption of the above SSAP has no material impact on
the accounts of the Group.
2.      Turnover

                                              For the     For the
                                              year        year
                                              ended 31    ended 31
                                              March       March
                                              2004        2003
                                              HK$'000     HK$'000

Sales of MobileSurf-installed pocket              468         498
personal computers and computer accessories

Subscription fees from provision of                39         104
MobileSurf service

Service fees from provision of mobile data     10,736       1,655
solutions and related services

Fees for development of customised software       220       1,881

Fees for provision of mobile messaging             71         187
                                               11,534       4,325
3.      Loss per share

The calculation of basic loss per share is based on the audited
loss attributable to shareholders for the year ended 31
March 2004 of approximately HK$8,544,000 (2003: HK$8,750,000), and
on the weighted average number of 428,547,945 shares
(2003: 327,581,620 shares) in issue during the year.
No diluted loss per share for the years ended 31 March 2004 and 2003
were presented as the outstanding share options were anti-dilutive.
4.     Dividend

No dividend was paid or declared by the Company or any of its
subsidiaries for the year (2003: Nil).