CITY TELECOM<01137> - Results Announcement

City Telecom(H.K.) Limited announced on 24/11/2003:
(stock code: 01137 )
Year end date: 31/08/2003
Currency: HKD
Auditors' Report: Unqualified

                                                        (Audited   )
                                     (Audited   )       Last
                                     Current            Corresponding
                                     Period             Period
                                     from 01/09/2002    from 01/09/2001
                                     to 31/08/2003      to 31/08/2002 
                               Note  ('000      )       ('000      )
Turnover                           : 1,298,909          1,150,200         
Profit/(Loss) from Operations      : 276,201            100,965           
Finance cost                       : (601)              (3,504)           
Share of Profit/(Loss) of 
  Associates                       : N/A                N/A               
Share of Profit/(Loss) of
  Jointly Controlled Entities      : N/A                N/A               
Profit/(Loss) after Tax & MI       : 257,822            91,129            
% Change over Last Period          : +183      %
EPS/(LPS)-Basic (in dollars)       : 0.467              0.184             
         -Diluted (in dollars)     : 0.419              0.161             
Extraordinary (ETD) Gain/(Loss)    : N/A                N/A               
Profit/(Loss) after ETD Items      : 257,822            91,129            
Final Dividend                     : $0.075             NIL               
  per Share                                                               
(Specify if with other             : N/A                N/A               
  options)                                                                
                                                                          
B/C Dates for 
  Final Dividend                   : 18/12/2003         to 23/12/2003bdi.
Payable Date                       : 09/01/2004
B/C Dates for (-)            
  General Meeting                  : N/A          
Other Distribution for             : N/A           
  Current Period                     
                                     
B/C Dates for Other 
  Distribution                     : N/A          

Remarks:

                                 
Earnings per share

The basic earnings per share is based on the weighted average of 
552,599,916 (2002: 495,180,835) ordinary shares in issue during the 
period.  The diluted earnings per share is based on 552,599,916 (2002: 
495,180,835) ordinary shares which is the weighted average number of 
ordinary shares in issue during the period plus the incremental number of 
7,111,598 (2002: 11,218,652) ordinary shares deemed to be issued at no 
consideration if all outstanding options had been exercised, plus the 
weighted average of 55,389,966 (2002: 59,489,255) ordinary shares deemed 
to be issued at consideration of HK$0.4 per share if all outstanding 
warrants had been exercised.

                                        2003            2002
                                        HK$'000         HK$'000
Profit attributable to shareholders     257,822         91,129
                                        =======         =======

                                        No of shares    No of shares
                                        in thousand     in thousand
Weighted average number of shares in 
  issue                                 552,600         495,181
Incremental shares from assumed 
  exercise of share options             7,112           11,219
Incremental shares from assumed 
  exercise of warrants                  55,390          59,489
                                        --------        --------
Diluted weighted average number 
  of shares                             615,102         565,889
                                        ========        ========