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Default Extract time from date

Hi all, I have formated cell A1 in "dd\mm\yyyy hh:mm" and value
appearing is "26/08/2009 10:00". I need some formula in cell B1 to
extract just the time bit from cell A1 value. I know I can copy cell
A1 value into cell B1 and change the format into "hh:mm" and i'll get
what i want but i dont want to do it that way. I need some thing like
"RIGHT(A1,5)". I tried this but its not working. Please can any
friend can help.
 
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