Yearly Results announcement form

Name of listed company   :Rainbow International Holdings Limited

Stock code               :8079

Year end date            :31/10/2001

Auditors' report         :     Qualified			
                               Modified			
                            X  Neither			


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


                                          (Audited)           (Audited)
                                            Current  Last Corresponding
                                             Period              Period
                                    from 01/11/2000     from 01/11/1999
                                      to 31/10/2001       to 31/10/2000
                                            HK$'000             HK$'000

Turnover                             :      110,047             126,157
Profit/(Loss) from Operations        :      -21,879               6,734
Finance cost                         :       -3,924              -4,174
Share of Profit/(Loss) of Associates :            0                   0
Share of Profit/(Loss) of
     Jointly Controlled Entites      :            0                   0
Profit/(Loss) after Taxation & MI    :      -25,803               2,165
% Change Over the Last Period        :        N/A %
EPS / (LPS) - Basic                  : (7.37) cents          0.62 cents
            - Diluted                : (7.02) cents          0.59 cents
Extraordinary (ETD) Gain/(Loss)      :            0                   0
Profit (Loss) after ETD Items        :      -25,803               2,165
Final Dividend per Share             :          Nil                 Nil
(specify if with other options)      :          Nil                 Nil
B/C Dates for Final 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. Group reorganisation and presentaion

The Company is incorporated as an exempted company with limited
liability in the Cayman Islands on 6 March 2001. Pursuant to a 
group reorganisation (the "Group Reorganisation") to rationalise the 
structure of the Group in preparation for the listing of its shares on The 
Growth Enterprise Market ("GEM") of The Stock Exchange of Hong 
Kong Limited (the "Stock Exchange") on 15 October 2001, the 
Company became the holding company of the companies now 
comprising the Group on 21 September 2001. Further details of the 
Group Reorganisation are set out in the Company's prospectus (the 
Prospectus) dated 28 September 2001.

As the reorganisation involved companies under common control, 
the consolidated financial statements have been prepared using
the merger accounting method. Therefore, the results of the 
Group for the year ended 31 October 2001 included the results
of the Group as if the group structure resulting from the 
Reorganisation had been in existence throughout the years ended 31 
October 2000 and 2001 or since the dates of acquisition as described 
in the Prospectus or since the date of incorporation of the respective
group companies where there was of a shorter period.

2. (Loss)/earnings per share

The calculation of basic (loss)/earnings per share is based on the 
(loss) attributable to shareholders of approximately (HK$25,803,000) 
(2000: a profit of approximately HK$2,165,000) and the weighted 
average number of 350,000,000 (2000: 350,000,000) shares, after 
adjusting for the effects of capitalization issue deemed to be in issue 
throughout the year on the assumption that the reorganisation had 
been completed on 1 November 1998 (Pro forma formation date of
the Group).

The calculation of diluted (loss)/earnings per share is based on the 
(loss) attributable to shareholders of approximately (HK$25,803,000) 
(2000: a profit of approximately HK$2,165,000) and the 367,500,000 
(2000: 367,500,000) shares which represented the 350,000,000 shares 
deemed to be in issue throughout the year on the assumption that the 
reorganisation had been completed on 1 November 1998 (Pro forma
formation date of the Group) and after adjusting for the number of
shares which are deemed to have been issued for no consideration under
the Pre-IPO Share Option Scheme based on the subscription price at 
50% of the offer price (i.e. HK$0.25).