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EXHIBIT 11
STIRLING COOKE BROWN HOLDINGS LIMITED
STATEMENT OF COMPUTATION OF NET INCOME PER ORDINARY SHARE
(Expressed in thousands of United States Dollars, except per share data)
As of or for the three As of or for the six
months ended June 30 months ended June 30
1999 2000 1999 2000
--------- ------- ---------- -----------
<S> <C> <C> <C> <C>
Net Income (Loss)...................................... $ 978 $ (2,206) $ 4,609 $ (3,228)
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BASIC
Number of Shares:
Weighted average number of ordinary shares
outstanding.......................................... 9,863,372 9,863,372 9,863,372 9,863,372
Weighted average treasury shares held.................. (443,400) (443,400) (321,630) (443,400)
--------- --------- --------- ---------
9,419,972 9,419,972 9,541,742 9,419,972
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Net income (loss) per share............................ $ 0.10 $ (0.23) $ 0.48 $ (0.34)
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DILUTED
Number of shares:
Weighted average number of ordinary shares
outstanding........................................... 9,863,372 9,863,372 9,863,372 9,863,372
Weighted average treasury shares held.................. (443,400) (443,400) (321,630) (443,400)
--------- --------- --------- ---------
9,419,972 9,419,972 9,541,742 9,419,972
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Net income (loss) per share assuming dilution.......... $ 0.10 $ (0.23) $ 0.48 $ (0.34)
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