10:01     CGD HOLDINGS<00162> - Announcement & Resumption (4)                 

    11 months               For the                 For the                   
    ended           year ended              year ended                        
    30 November             31 December             31 December               
    2004            2003            2002                                      
    (HK$'000)               (HK$'000)               (HK$'000)                 
                                                                              
    Turnover (Note 1)       128,519         116,540         111,887           
    Unaudited net profit before tax 46,658                                    
            12,287          33,124                                            
    Unaudited net profit after tax  46,658          12,287                    
            33,124                                                            
                                                                              
    As at           As at           As at                                     
    30 November             31 December             31 December               
    2004            2003            2002                                      
    (HK$'000)               (HK$'000)               (HK$'000)                 
    Net Asset Value 92,069          45,411          33,124                    
                                                                              
    Note 1: Turnover is defined as net gains from bets,                       
    which represents the sole business of Anglo View.                         
                                                                              
    Note 2: The above figures are based on the management                     
    accounts of Anglo View provided by Mr. Cai in                             
    accordance with generally accepted accounting                             
    principles in Hong Kong.                                                  
                                                                              
    3.      INFORMATION ON THE GROUP                                          
                                                                              
    The Group is principally engaged in the provision of                      
    passenger cruise ship services in the South-eastern                       
    part of China.                                                            
                                                                              
    Pacific Cruises owns and operates the Cruise Ship,                        
    which is its sole asset and business. The Cruise Ship                     
    is a passenger cruise ferry and it provides a                             
    passenger cruise ferry service between Haikou in                          
    Hainan, PRC, via Beihai in Guangxi, PRC and Halong                        
    Bay in Vietnam.                                                           
                                                                              
    4.      REASONS FOR ENTERING INTO THE AGREEMENT                           
                                                                              
    Following the acquisition of 51% equity interest in                       
    Pacific Cruises in year 2002, the Group is principally                    
    engaged in the provision of passenger cruise ship                         
    services in the South-eastern part of China. The Board                    
    believes that the entering of the Agreement would                         
    position the Group to further benefit from the growth                     
    potential of the cruising industry in the PRC, which                      
    is currently experiencing strong growth. Moreover,                        
    the Directors believe that the acquisition of a profit                    
    share in the Gaming Facility, as opposed to a direct                      
    investment in Anglo View will enable the Group to                         
    enjoy any upside benefit of the Gaming Facility while                     
    the minimum profit guarantee will protect the Group                       
    from any downside risk of the Gaming Facility. The                        
    Directors, including the independent non-executive                        
    Directors, believe that the terms and conditions of                       
    the Agreement are fair and reasonable and in the                          
    interest of the Company and the Shareholders as a                         
    whole.                                                                    
                                                                              
    5.      IMPLICATIONS OF THE LAWS OF HONG KONG AND THE                     
    LISTING RULES                                                             
                                                                              
    The operation of the gaming activities on the Cruise                      
    Ship is currently carried out and will be carried out                     
    in the international waters, which are beyond the                         
    legal restrictions of Hong Kong or any other countries.                   
    The Directors consider that neither the entering of                       
    the Agreement nor the operation of gaming activities                      
    on the Cruise Ship to be carried out in the high seas                     
    will constitute unlawful activities under the laws                        
    of Hong Kong, including