Media Asia Group Holdings Limited provided consolidated earnings guidance for the nine months ended April 30, 2012. The Group's unaudited consolidated results attributable to owners of the parent for the nine months ended April 30, 2012 are expected to record a significant loss as compared to the audited consolidated profit attributable to owners of the parent of approximately HKD 985,000 for the four months ended July 31, 2011. The above loss was mainly due to the recognition of a fair value loss on the forward contract in relation to the Second CN. This fair value loss was recognized in compliance with the currently applicable accounting standards. The Board announced that any fair value gain or loss on the forward contract in relation to the Second CN is non-cash in nature, will not have any impact on the cashflow of the Group and may fluctuate significantly according to market conditions and the trading price of the shares.