Mr. William Kwan Chief Financial Officer

Mr. William Kwan Chief Financial Officer

Consolidated Results (HK$ M) 2005 Turnover 2,441 Opex before dep n (1,681) EBITDA 760 Depreciation (480) Operating profit 280 Net interest income / (expense) 3 Non-operating expense (1) Profit before taxation 282 Taxation 300 Net profit 582 EPS (HK cents) 28.8 2004 2,372 (1,544) 828 (532) 296 (0) 1 297 (13) 284 14.1 % chg. +3% +9% -8% -10% -5% -5% +105% +105% DPS - Interim (HK cents) -Final(HK cents) Full Year DPS 3.5 5.0 8.5 3.0 4.5 7.5 Net deferred tax credit of $305 million booked to recognize tax losses brought forward +17% +11% +13% 2005 Final Results Announcement 3

Operating Expenses (HK$ M) 2005 2004 % chg. Programming 864 791 +9% Network & Others 398 381 +5% S, G&A 419 373 +12% Sub-total 1,681 1,544 +9% Depreciation 480 532-10% Total 2,161 2,076 +4% Higher programming investment for content differentiation Higher marketing & sales costs Depreciation declining due to expiry of depreciation cycle on network and CPE assets 2005 Final Results Announcement 4

Pay TV 2005 2004 Chg. Subs (000) 738 702 +36 ARPU (HK$) 212 225-13 Subs growth continued despite intense competition Net addition decreased to 36K in 2005 (2004:47K) ARPU declined 6% due to active marketing of lower yield mini packages to build market position 2005 Final Results Announcement 5

Pay TV (HK$M) 2005 2004 %Chg. Turnover 1,884 1,888 - Opex before dep n (1,286) (1,140) +13% EBITDA 598 748-20% Depreciation (261) (279) -6% Operating profit 337 469-28% Opex before dep n increased by 13% mainly due to higher programming and marketing costs 2005 Final Results Announcement 6

Internet & Multimedia 2005 2004 Chg. Broadband Subs (000) 320 291 +29 Broadband ARPU (HK$) 139 140-1 Voice lines in service (000) 120 29 +91 Net addition decreased to 29K in 2005 (2004:34K) Voice lines more than quadrupled 2005 Final Results Announcement 7

Internet & Multimedia (HK$ M) 2005 2004 % chg. Turnover 558 481 +16% Opex before dep n (266) (277) -4% EBITDA 292 204 +43% Depreciation (214) (248) -14% Operating profit / (loss) 78 (44) EBITDA margin 52% 42% Turnover up 16% while opex declined Turnover, EBITDA and operating profit reached new historic high 2005 Final Results Announcement 8

CAPEX HK$ Million 600 559 500 400 300 437 428 Free Cash Flow HK$ Million 400 282 0 (400) (800) Cashflow Free cashflow before dividends up 75% to $399 million Capex down 34% to $282 million Net cash at year end increased to $352 million (2004: $115 million) 200 02 03 04 05 (1,200) 2005 Final Results Announcement 9

Market leader in pay TV despite intense competition Summary Broadband business turning to a profitable growth track due to service enhancement and new bundling strategies Strong growth in voice lines Capex continued to trend downwards Free cashflow before dividend rose sharply Investment in other new businesses has not started to generate contribution 2005 Final Results Announcement 10

Mr. Stephen Ng Chairman & Chief Executive Officer

Bundling Pay TV - Competition Pay television, broadband and voice NOW In the market for two and a half years Big marketing and content spending Galaxy In the market for two years Limited penetration Signed a deal with PCCW for distribution on its NOW platform 2005 Final Results Announcement 12

70% 62% Pay TV - Competition 2005 TV Viewership Share - Aged 4+ 0% 19% 10% 4% 2% 0% TVB Jade ATV Home Cable TV TVB Pearl ATV World STAR TV Source: AGB Nielsen Media Research 2005 Final Results Announcement 13

Pay TV - Competition 50% 48% 2005 TV Viewership Share 37% - CABLE TV Subscribers Aged 4+ 11% 0% 2% 1% 0% TVB Jade Cable TV ATV Home TVB Pearl ATV World STAR TV More than 85% of viewership from self-produced channels 69% of viewership from self-produced channels, excluding sports Source: AGB Nielsen Media Research 2005 Final Results Announcement 14

Pay TV - Strategy Build on strong content production capability Implemented re-organization Formed 3 content providers to operate news, sports and entertainment businesses i-cable News Ltd i-cable Sports Ltd i-cable Entertainment Ltd Sharpen focus to respond to market changes expand into new markets develop new revenue streams 2005 Final Results Announcement 15

Pay TV - Strategy Non-sports mini packages to capture new market segments News platform relaunch Cable Finance & Info Channel up-to-date financial information Cable News Channel round-the-clock professional newscasts Live News Channel Live breaking news Top News Headline news 2005 Final Results Announcement 16

Pay TV - Strategy Movie platform relaunch HMC on basic Hollywood blockbusters Movie 1 Top Chinese movies Movie 2 Highly acclaimed Asian & Int l movies 2005 Final Results Announcement 17

Sports platform Pay TV - Strategy Exclusive FIFA World Cup 2006 Exclusive Winter Olympics 2006 Exclusive Asian Games 2006 2005 Final Results Announcement 18

Continue to expand multimedia content Leading video supplier to mobile operators Launched music download portal, imusic, with major music labels Multiplayer online game, Rappelz, to be launched in first half of 2006 Internet & Multimedia 2005 Final Results Announcement 19

Internet & Multimedia Breakdown of 2005 New Sales 100% 80% 9% Multiple Services 60% 79% 40% 91% Single 20% Service 21% 0% 2004 2005 Bundling to enhance subscriber growth & loyalty Jump in new sales with multiple services 2005 Final Results Announcement 20

Sundream Motion Pictures New Developments First film ( 49 Days ) released in Feb $4.8 million HK box office in week 1 More than double the 2nd highest Accounting for 50% of all other films combined Over $7 million HK box office after 2 weeks Very successful in Malaysia 2005 Final Results Announcement 21

New Developments Newsline Express, the news service on KCRC trains, launched in August 2005 Horizon Channel continued to strengthen its distribution in China. Also available in the U.S., South America and Malaysia 2005 Final Results Announcement 22

Summary Competition expected to remain intense Effective marketing and programming initiatives to further viewership & build market position Rationalized management structure to be more responsive to market changes Seek new ideas and initiatives to deal with challenges 2005 Final Results Announcement 23

i-cable Communications Limited HKSE Stock Code: 1097.HK NASDAQ Symbol: ICAB Disclaimer All information and data are provided for information purposes only. All opinions included herein constitute i-cable s judgement as of the date hereof and are subject to change without notice. i-cable and its subsidiaries and affiliates hereby disclaim (i) all express, implied, and statutory warranties of any kind to user and/or any third party including warranties as to accuracy, timeliness, completeness, or fitness for any particular purpose; and (ii) any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the information and data contained herein. 2005 Final Results Announcement 24