Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).

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For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.

WHAT INFORMATION DO WE COLLECT ABOUT YOU?

We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.

COOKIES

In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.

HOW WE USE INFORMATION

We store and use information you provide as follows:

  • to present content effectively;
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  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.

ACCESS TO YOUR INFORMATION AND CORRECTION

We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.

WHERE WE STORE YOUR PERSONAL DATA

The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.

CHANGES TO OUR PRIVACY POLICY

Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.

OTHER WEBSITES

Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.

CONTACT

If you want more information or have any questions or comments relating to our privacy policy please email publishing@financialexpress.net in the first instance.

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Vtech Holdings Ld (VTH)

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Monday 26 March, 2001

Vtech Holdings Ld

Profit Warning

Vtech Holdings Ld
26 March 2001


 
                            VTech Holdings Limited                            
               (Incorporated in Bermuda with limited liability)               
                                                                              
                                PROFIT WARNING                                
                             ____________________                             

The Board of Directors (the 'Board') of VTech Holdings Limited (the 
'Company', which together with its subsidiaries are collectively known as the
'Group') wishes to inform the shareholders of the Company  that the Group is
expected to record a substantial loss for the year ending 31st March, 2001. 

Shareholders of the Company and investors should in view of the above exercise
caution when dealing in the shares of the Company.
                             ____________________                             

The Company's interim results announcement dated 29th November, 2000 recorded
an unsatisfactory profit performance for the six months ended 30th September,
2000 with only a profit attributable to shareholders of US$0.8 million as
compared to US$26.4 million for the same corresponding period for the previous
year.  Since that date the Group's telecommunications business has suffered
substantial losses.  The other principal businesses of the Group, electronic
learning products, information appliances and other electronic products have
not improved significantly since that date.  As a result, the Group is
expected to record a substantial operating loss for the year ending 31st
March, 2001.  

The majority of the losses relate to exceptional items currently estimated at
approximately US$133 million as at the date of this announcement (subject to
audit) resulting from:-

-The acquisition on 31st March, 2000 of Lucent Technologies Inc's ('Lucent')
 consumer wired telephone business. 
-Non-recurring operating losses.
-Consolidation and restructuring costs.
-Adjustments to certain intangible assets, including goodwill and know-how.

The Directors believe that the Group's under-performance, which is due
primarily to the losses incurred in conjunction with the business acquired
from Lucent, will not be recurring and it is anticipated that the Group's
overall performance will improve in next financial year.  This belief is based
on the fact the Group has now made a full evaluation as to the needs and
requirements of the wired telephone business acquired from Lucent and that the
Board will be implementing the steps set out below. The Company is confident
that its overall consumer telephone business is a sound and viable business
and that its performance will be enhanced by the following business decisions
which are being implemented:-

- Re-organisation of the telecommunications business management team.
- Streamlining  the operations of the wired telephone business acquired from
  Lucent.
- Re-formatting  the business model for the wired telephone business acquired
  from Lucent.

The Group, which is the world's largest manufacturer of cordless telephones
and electronic learning products, believes that both these businesses will
show substantially improved  performance in the future.  Its contract
manufacturing services unit has continued to grow and show improved
performance.  Its e-business related services, which are a long term
investment and do not yet contribute to the results of the Group, will be
down-sized and re-organised to achieve synergies with other Group companies. 
The Group's corporate services function has been streamlined to improve its
operating efficiency.

The Group will continue to trade on a normal commercial basis.  The principal
bankers of the Group appreciate the current situation and have indicated that
they will continue to support the businesses of the Group.

As the Group's results for the year ending 31st March, 2001 have not yet been
finalised, the Board is not able to quantify the final financial implications
or give the exact amount of losses at this stage.  The Group will publish such
results in its 2001 annual report as soon as practicable after the end of the
financial year.

Shareholders of the Company and investors should in the view of the above
exercise caution when dealing in the shares of the Company.

By Order of the Board
Allan WONG Chi Yun
Chairman

Hong Kong, 26th March, 2001