Quarterly Results announcement form
     
Name of listed company                  :Excel Technology International Holdings Limited
     
Stock code                              :8048
     
Year end date                           :31st Deccember, 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$'000
                                          (Unaudited)       (Unaudited)
Quarterly Results Announcement                Current              Last 
                                                          Corresponding
                                               Period            Period
                                        from 1-1-2002     from 1-1-2001
                                         to 31-3-2002      to 31-3-2001
                                              HK$'000           HK$'000
     
Turnover                             :         29,140            41,269
Profit/(Loss) from Operations        :         -8,017             4,717
Finance cost                         :         -1,769            -1,183
Share of Profit/(Loss) of Associates :            597            -2,191
Share of Profit/(Loss) of
     Jointly Controlled Entites      :              0                 0
Profit/(Loss) after Taxation & MI    :         -9,551             1,308
% Change Over the Last Period        :          N/A %
EPS / (LPS) - Basic                  :    - 0.97 cent         0.13 cent
            - Diluted                :    - 0.97 cent         0.13 cent
Extraordinary (ETD) Gain/(Loss)      :              0                 0
Profit (Loss) after ETD Items        :         -9,551             1,308
1st Quarter  Dividend per Share      :              0                 0
(specify if with other options)      :            N/A               N/A
B/C Dates for 1st Quarter 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
                                         Excel Technology International Holdings Limited
                           Signature :
                           Name      :                 Chan Yee Wah
                           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.
     
Remarks:
     
1. Basis of presentation
     
   Excel Technology International Holdings Limited ("the Company")
   was incorporated in Bermuda on 21st January, 2000 with its 
   shares listed on the Growth Enterprise Market ("GEM") of the
   Hong Kong Stock Exchange on 30th June, 2000.
     
   The financial information presented has been prepared in 
   accordance with accounting policies which conform with all
   applicable Statements of Standard Accounting Practice and
   Interpretations issued by the Hong Kong Society of Accountants
   and the accounting principles generally accepted in Hong Kong
   and also the disclosure requirements of the GEM Listing Rules
   of the Exchange as applicable to quarterly reports.
     
   All significant intra-group transactions and balances have 
   been eliminated on consolidation.
     
2. Turnover
     
   Turnover represents the sale of enterprise software products,
   provision of customization, consulting & systems integration
   services, complimentary computer hardware and software resale
   and maintenance services and ASP software subscriptions.
     
3. Finance costs
     
   Finance costs mainly represents interest costs on convertible
   notes issued by the Company.
     
4. (Loss) / Earnings per share
     
   The calculation of basic loss per share for the three 
   months ended 31st March 2002 is based on the loss attributable
   to shareholders of approximately HK$9,551,000 (2001: Profit
   HK$ 1,308,000) and the weighted average number of 985,050,000
   shares (2001: 1,000,000,000 shares) in issue during the period.
 
   Diluted (loss)/earnings per share for the periods ended 31st
   March, 2002 and 2001 are the same as the basic (loss)/earnings
   per share because there was no dilutive effect in existence
   during the respective periods.