09:57     GOLD-FACE HOLD<00396> - Announcement (1)                            

    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: 0396)                                                        
                                                                              
    FURTHER DELAY IN THE PUBLICATION OF THE INTERIM RESULTS AND               
    THE DESPATCH OF INTERIM REPORT FOR                                        
    THE SIX MONTHS ENDED 30 SEPTEMBER 2003                                    
                                                                              
    FURTHER DELAY IN THE PUBLICATION OF THE ANNUAL RESULTS AND                
    THE DESPATCH OF THE ANNUAL REPORT FOR                                     
    THE YEAR ENDED 31 MARCH 2004                                              
                                                                              
    AND                                                                       
                                                                              
    DELAY IN THE PUBLICATION OF THE INTERIM RESULTS AND                       
    THE DESPATCH OF INTERIM REPORT FOR                                        
    THE SIX MONTHS ENDED 30 SEPTEMBER 2004                                    
                                                                              
    Reference is made to the Company's announcements dated 24                 
    December 2003, 17 May 2004 and 18 October 2004 respectively               
    regarding (inter alia) the delay in the publication of the                
    results announcements and the delay in the despatch of the annual         
    reports and the interim reports.                                          
                                                                              
    The directors of the Company announce that there will be a further        
    delay in the publication of the results announcements and the             
    despatch of the reports for the six months ended 30 September             
    2003 and the year ended 31 March 2004. The Directors further              
    announce that there will be a delay in the publication of the             
    interim results announcement and the despatch of the interim              
    report for the six months ended 30 September 2004.                        
                                                                              
    It is expected that (i) the review and audit work on the accounts         
    for the six months ended 30 September 2003, the year ended 31             
    March 2004 and six months ended 30 September 2004 will be                 
    completed before 31 March 2005; (ii) the results announcements            
    will be published before 30 April 2005; and (iii) the reports             
    will be despatched before 31 May 2005.                                    
                                                                              
    Further announcement will be made when the timetable in respect           
    of the publication of the results announcements and the despatch          
    of the reports can be ascertained.                                        
                                                                              
    The directors of the Company acknowledge that the delay                   
    constitutes a breach of Rules 13.46(2)(a), 13.46(2)(b), 13.48(1),         
    13.49(1) and 13.49(6) of the Listing Rules and that the Stock             
    Exchange reserves its rights to take appropriate actions against          
    the Company and/or its directors in respect of the breach.                
                                                                              
    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.                                           
                                                                              
    Reference is made to the announcements of Gold-Face Holdings              
    Limited ("Company") dated 24 December 2003, 17 May 2004 and 18            
    October 2004 respectively regarding the delay in the publication          
    of the annual and interim results announcements and the delay             
    in the despatch of the annual and interim reports.                        
                                                                              
    Pursuant to Rules 13.46(2)(a), 13.48(1), 13.49(1) and