09:20     GOLD-FACE HOLD<00396> - Announcement                                

    The Stock Exchange of Hong Kong Limited takes no responsibility           
    for the contents of this announcement, makes no representation            
    as to its accuracy or completeness and expressly disclaims any            
    liability whatsoever for any loss howsoever arising from or in            
    reliance upon the whole or any part of the contents of this               
    announcement.                                                             
                                                                              
    Gold-Face Holdings Limited                                                
    (incorporated in Bermuda with limited liability)                          
    (Stock code: 396)                                                         
                                                                              
    DELAY IN THE PUBLICATION OF                                               
    THE ANNUAL RESULTS ANNOUNCEMENT                                           
    FOR THE YEAR ENDED 31 MARCH 2003                                          
                                                                              
    The directors of the Company announce that there will be a delay          
    in the publication of the results announcement for the year ended         
    31 March 2003 from 6 January 2005 to 7 January 2005.                      
                                                                              
    At the request of the Company, trading in the Company's shares            
    was suspended from 9:30 a.m. on 19 May 2003 and will remain               
    suspended until further notice.                                           
                                                                              
                                                                              
    The directors of Gold-Face Holdings Limited (the "Company")               
    announce that a board meeting was held on 5 January 2005 to               
    consider the publication of the annual results for the year ended         
    31 March 2003 (the "2003 Results"). As the directors of the               
    Company require additional time to review the financial data              
    of the 2003 Results, the publication of the announcement for              
    the 2003 Results will be delayed from 6 January 2005 to 7 January         
    2005.                                                                     
                                                                              
    At the request of the Company, trading in the Company's shares            
    was suspended from 9:30 a.m. on 19 May 2003 and will remain               
    suspended until further notice.                                           
                                                                              
    By Order of the Board of                                                  
    GOLD-FACE HOLDINGS LIMITED                                                
    Tai Seow Yoke Peng                                                        
    Director                                                                  
                                                                              
    The Board comprises Ms. Tai Seow Yoke Peng, Mr. Ng Yat Cheung,            
    Mr. Wan Tai Min, Tommy and Mr. Leung Shu Yin, William                     
                                                                              
    Hong Kong, 5 January 2005