<Page>
Exhibit 2
GLOBAL SOURCES LTD.
CONSOLIDATED BALANCE SHEETS
(IN U.S. DOLLARS THOUSANDS, EXCEPT NUMBER OF SHARES AND PER SHARE DATA)
<Table>
<Caption>
AT AT
DECEMBER 31 JUNE 30
-------- --------
2000 2001
-------- --------
(UNAUDITED)
ASSETS
CURRENT ASSETS:
Cash and cash equivalents ....................................... $ 12,727 $ 12,731
Accounts receivable, net ........................................ 7,803 6,860
Receivables from sales representatives .......................... 3,994 2,884
Inventory of paper .............................................. 1,213 1,306
Prepaid expenses and other current assets ....................... 1,768 1,757
-------- --------
TOTAL CURRENT ASSETS ....................................... 27,505 25,538
-------- --------
Property and equipment, net ......................................... 23,205 20,982
Intangible assets, net .............................................. 373 188
Long term investments ............................................... 1,250 1,000
Bonds held to maturity, at amortized cost ........................... 2,027 1,919
Other assets ........................................................ 1,346 1,122
-------- --------
TOTAL ASSETS ............................................... $ 55,706 $ 50,749
======== ========
LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES:
Accounts payable ................................................ $ 5,536 $ 2,383
Deferred income and customer prepayments ........................ 15,888 15,997
Accrued liabilities ............................................. 5,879 6,303
Short-term loan ................................................. 4,000 2,000
Income taxes payable ............................................ 158 261
-------- --------
TOTAL CURRENT LIABILITIES .................................. 31,461 26,944
-------- --------
Liabilities for incentive and bonus plan ........................ 1,794 1,684
Amount due to parent company .................................... 11,404 11,404
Minority interest ............................................... 2,432 2,422
Deferred tax liability .......................................... 454 513
-------- --------
TOTAL LIABILITIES .......................................... 47,545 42,967
-------- --------
SHAREHOLDERS' EQUITY:
Ordinary shares, US$0.01 par value; 50,000,000 shares authorized;
26,303,949 (2000: 26,303,949) shares issued and outstanding 263 263
Additional paid in capital (Note 1) ............................. 81,726 86,988
Shareholders' note receivable .................................... (6,000) (6,000)
Retained deficit ................................................. (62,762) (64,775)
Less : Unearned compensation (Note 2) ............................ (5,066) (8,694)
-------- --------
TOTAL SHAREHOLDERS' EQUITY ................................. 8,161 7,782
-------- --------
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY ................. $ 55,706 $ 50,749
======== ========
</Table>
Note: 1. Reflects the non-cash compensation expense associated with the
transfer of shares from the parent company to the chairman and chief
executive officer of the Company, employee equity compensation
plans, the non-cash listing expenses incurred by The Fairchild
Corporation, interest in a joint venture and amount received from a
director in February 2001 for the shares subscribed by him in the
directors stock option plan.
2. Reflects the remaining unearned non-cash compensation expense at the
balance sheet date associated with the employee equity compensation
plans. The Company will recognize non-cash compensation expense over
the vesting period of the employee equity compensation plans.
<Page>
GLOBAL SOURCES LTD.
CONSOLIDATED STATEMENTS OF INCOME
(IN U.S. DOLLARS THOUSANDS, EXCEPT NUMBER OF SHARES AND PER SHARE DATA)
<Table>
<Caption>
THREE MONTHS ENDED SIX MONTHS ENDED
JUNE 30, JUNE 30,
------------------------------ ------------------------------
2000 2001 2000 2001
------------ ------------ ------------ ------------
(UNAUDITED) (UNAUDITED) (UNAUDITED) (UNAUDITED)
REVENUES:
Online marketplace services ........................... $ 13,999 $ 14,411 $ 25,129 $ 29,200
Transaction software and services ..................... 133 95 240 170
Complementary media services .......................... 10,783 9,137 23,761 17,743
Other ................................................. 836 789 1,955 2,352
------------ ------------ ------------ ------------
25,751 24,432 51,085 49,465
OPERATING EXPENSES:
Sales ............................................... 9,550 8,691 18,198 17,961
Circulation ......................................... 3,131 3,069 6,191 6,122
General and administrative .......................... 7,766 8,330 16,255 18,300
Online services development ......................... 1,126 2,181 2,023 5,312
Non-cash compensation expense (Note 3) .............. 1,400 885 10,333 1,471
Non-cash listing expenses (Note 4) .................. 1,353 -- 1,353 --
Amortization of intangibles/Software development cost 93 869 186 1,738
------------ ------------ ------------ ------------
TOTAL OPERATING EXPENSES ................................ 24,419 24,025 54,539 50,904
------------ ------------ ------------ ------------
INCOME/(LOSS) FROM OPERATIONS ........................... 1,332 407 (3,454) (1,439)
------------ ------------ ------------ ------------
Interest expense .................................... (224) (51) (254) (127)
Interest income ..................................... 344 262 421 482
Foreign exchange gains/(losses), net ................ 53 (122) 436 (85)
Write-down of investment ............................ -- (250) -- (250)
------------ ------------ ------------ ------------
INCOME/(LOSS) BEFORE INCOME TAXES ....................... 1,505 246 (2,851) (1,419)
INCOME TAX PROVISION .................................... (253) (250) (514) (604)
------------ ------------ ------------ ------------
NET INCOME/(LOSS) BEFORE MINORITY INTEREST .............. 1,252 (4) (3,365) (2,023)
Minority interest ....................................... -- 77 -- 10
------------ ------------ ------------ ------------
NET INCOME/(LOSS) ....................................... $ 1,252 $ 73 $ (3,365) $ (2,013)
RETAINED EARNINGS/(DEFICIT) BROUGHT FORWARD ............. -- -- $ 5,459 $ (62,762)
------------ ------------ ------------ ------------
RETAINED EARNINGS/(DEFICIT) CARRIED FORWARD ............. -- -- $ 2,094 $ (64,775)
============ ============ ============ ============
BASIC AND DILUTED NET INCOME/(LOSS) PER SHARE ........... $ 0.05 $ 0.003 $ (0.13) $ (0.08)
============ ============ ============ ============
SHARE USED IN BASIC AND DILUTED NET INCOME PER SHARE
CALCULATIONS ............................................ 26,125,011 26,303,949 25,588,195 26,303,949
============ ============ ============ ============
</Table>
Note: 3. Reflects the non-cash compensation expenses associated with the
transfer of shares from the parent company to the chairman and chief
executive officer of the Company and the employee equity
compensation plans.
Non-cash compensation expenses can be broken down approximately into
different categories of expenses as follows:
<Table>
<Caption>
THREE MONTHS ENDED JUNE 30, SIX MONTHS ENDED JUNE 30,
----------------------- -----------------------
2000 2001 2000 2001
-------- -------- -------- --------
Sales ....................... $ -- $ 111 $ -- $ 241
Circulation ................. -- 53 -- 87
General and administrative .. 1,400 525 10,333 850
Online services development . -- 196 -- 293
</Table>
4. Reflects the non-cash listing expenses incurred by The Fairchild
Corporation.
<Page>
GLOBAL SOURCES LTD.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(IN U.S. DOLLARS THOUSANDS, EXCEPT NUMBER OF SHARES AND PER SHARE DATA)
<Table>
<Caption>
SIX MONTHS ENDED
JUNE 30,
2000 2001
-------- --------
(UNAUDITED) (UNAUDITED)
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss ........................................................ $ (3,365) $ (2,013)
Adjustments to reconcile net loss to net cash provided by operating
activities
Depreciation and amortization ................................... 1,348 4,462
Loss on sale of property and equipment .......................... 2 2
Accretion of U.S. Treasury strips zero % coupon ................. (67) (63)
Bad debt expense ................................................ 631 605
Non-cash compensation expense ................................... 10,333 1,471
Non-cash listing expenses ....................................... 1,353 --
Write-down of investment ........................................ -- 250
Loss attributable to minority shareholder ....................... -- (10)
Property and equipment written off ............................. -- 2
-------- --------
10,235 4,706
CHANGES IN ASSETS AND LIABILITIES:
Accounts receivables ............................................ (580) 338
Receivables from sales representatives .......................... (2,039) 1,110
Inventory of paper .............................................. 77 (93)
Prepaid expenses and other current assets ....................... 420 11
Loan to chief executive officer ................................. (5,121) --
Long term assets ................................................ (34) 224
Accounts payable ................................................ 944 (3,153)
Accrued liabilities and liabilities for incentive and bonus plans (2,096) 314
Deferred income and customer prepayments ........................ 336 109
Tax liability ................................................... 232 162
-------- --------
NET CASH PROVIDED BY OPERATING ACTIVITIES .................. 2,374 3,728
-------- --------
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of long term investments ............................... (13,000) --
Purchase of property and equipment .............................. (5,933) (2,063)
Proceeds from sales of property and equipment ................... 3 5
Proceeds from matured bonds ..................................... 210 170
-------- --------
NET CASH USED FOR INVESTING ACTIVITIES ..................... (18,720) (1,888)
-------- --------
CASH FLOWS FROM FINANCING ACTIVITIES:
Short-term borrowings ........................................... 13,260 --
Repayment of short-term borrowings .............................. -- (2,000)
Amount received towards directors stock option plan ............. -- 164
Additional capital contributed .................................. 24 --
-------- --------
NET CASH GENERATED FROM/(USED FOR) FINANCING ACTIVITIES .... 13,284 (1,836)
-------- --------
Net (decrease)/increase in cash and cash equivalents ................ (3,062) 4
Cash and cash equivalents, beginning of the period .................. 15,433 12,727
-------- --------
CASH AND CASH EQUIVALENTS, END OF THE PERIOD ........................ $ 12,371 $ 12,731
======== ========
SUPPLEMENTAL CASH FLOW DISCLOSURES:
Income tax paid ................................................. $ 282 $ 442
Interest paid ................................................... 228 125
======== ========
</Table>