Hong Kong, March 31, 2009 - Leading locally listed information technology ("IT") services company, Computer And Technologies Holdings Limited (C&T Holdings or the "Group", Stock Code: SEHK 00046), announced today its audited results for the year ended December 31, 2008.

For the reporting period, the Group’s consolidated revenue increased by 11.5% from 358.7 million in 2007 to HK$400.0 million ( continuing operations: HK$376.4 million; discontinued operation: HK$23.6 million) in 2008 and the consolidated net profit after tax attributable to the shareholders increased by 17.5% to HK$33.1 million (2007: HK$28.1 million). The earnings per share for the year increased 21.4% to 12.91 Hong Kong cents (2007: 10.63 Hong Kong cents).

Mr. Ng Cheung Shing, Chairman and CEO of C&T Holdings, commented on the results that “The improved results were mainly attributed to the continuous growths in the integration and solutions services business and the improvements in profit generation from the various recurring revenue streams.”

The Group generated more than HK$66.7 million cash inflow from its operations in 2008 and maintained a strong financial position. The Board recommended to distribute a final dividend of 6 Hong Kong cents per share (2007: 6 Hong Kong cents). In view of the strong financial position, the Board also recommended a special dividend of 2 Hong Kong cents per share (2007: nil) as to celebrate the Group’s 10th anniversary of listing in the Hong Kong Stock Exchange.

During the review period, the overall gross profit margin was stable 30.0% (2007:30.24%) and the gross profit increased by 10.8% amounting to HK$120.1 million (2007: 108.5 million). As of the reporting day, the Group’s order book not yet recognized as revenue in 2008 is kept at a balance of approximately HK$339 million which compared with about HK$320 million at the same time last year. More than 50% of contracts in the order book are service-oriented.

When discussing the prospect of the Group, Mr. Ng said “The general demand of the IT services has been adversely impacted by the deteriorating global economy and the businesses of the Group are continuously subject to keen competitions. Nevertheless, the Group managed to maintain strong order backlogs and has been benefiting from recurrent businesses generated from its solid customer base in the government sector and in China which are relatively less vulnerable to the global financial turmoil.”

The Group has recently renewed the license with the HKSAR Government for operating the Government Electronic Trading Services (GETS) for additional 7 years until end of 2016. Besides, the Group has entered into business collaboration with the 5 Government Approved Certification Organizations (GACOs) to jointly promote the GETS related businesses. “Resulting that, the Group’s market share in GETS had immediately increased and also its positions in capturing more businesses from the trading community were strengthened. In addition, the Group is also actively exploring the introduction of new value added services in order to mitigate the impact caused by the decreased import and export volumes.” Said Mr. Ng.

"We are also involving in various business opportunities in provision of business process outsourcing (BPO) and IT outsourcing (ITO) services. Those opportunities, if being materialized, will further enhance the Group’s related recurring revenue in the coming years.” Supplemented Mr. Ng.

To enhance the foundation for future growths, the Group will continue to strengthen its management system and to take measures to tune up and advance its project implementation systems and human resources development strategy to the optimal efficiency. Mr. Ng also emphasized that “We will also not lessen our efforts in maintaining the prudent principles in financial management and the effectiveness in the internal controls for risks minimization.”

Lastly, Mr. Ng commented that "Leveraging the Group’s sound financial position, the economic downturn will increase the chance and opportunity for the Group to further increase its market share and business scale through merger and acquisition.”

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More information is available at the 2008 results announcement published by the Group on March 31, 2009.

About C&T Holdings
Computer And Technologies Holdings Limited ("C&T" or the "Group", Stock Code: SEHK 00046) is one of the leading IT services providers in Asia involved in the design, delivery and operation of total IT solutions that meet customers' business requirements. Building on its successful track records, the Group has expanded into an all round IT services provider with a synergetic portfolio of subsidiaries offering systems and network integration, IT solutions implementation and application development services, enterprise application software as well as on-line e-Government and e-Business platforms and related business process outsourcing services. For more information, please visit our website at www.ctil.com.

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