08:54     CH N RES DEV<00661> - Results Announcement                          

    China National Resources Development Holdings Limited announced on        
    28/01/2005:                                                               
    (stock code: 00661 )                                                      
    Year end date: 30/04/2005                                                 
    Currency: HKD                                                             
    Auditors' Report: N/A                                                     
    Interim report reviewed by: Audit Committee                               
                                                                              
                                                            (Unaudited )      
                                         (Unaudited )       Last              
                                         Current            Corresponding     
                                         Period             Period            
                                         from 01/05/2004    from 01/05/2003   
                                         to 31/10/2004      to 31/10/2003     
                                   Note  ('000      )       ('000      )      
    Turnover                           : 9,913              1,811             
    Profit/(Loss) from Operations      : (39,696)           1,246             
    Finance cost                       : (999)              (678)             
    Share of Profit/(Loss) of                                                 
      Associates                       : 0                  0                 
    Share of Profit/(Loss) of                                                 
      Jointly Controlled Entities      : 0                  (2,626)           
    Profit/(Loss) after Tax & MI       : (40,487)           (2,058)           
    % Change over Last Period          : N/A       %                          
    EPS/(LPS)-Basic (in dollars)       : (0.0242)           (0.0015)          
             -Diluted (in dollars)     : N/A                N/A               
    Extraordinary (ETD) Gain/(Loss)    : N/A                N/A               
    Profit/(Loss) after ETD Items      : (40,487)           (2,058)           
    Interim Dividend                   : N/A                N/A               
      per Share                                                               
    (Specify if with other             : N/A                N/A               
      options)                                                                
                                                                              
    B/C Dates for                                                             
      Interim Dividend                 : N/A                                  
    Payable Date                       : N/A                                  
    B/C Dates for (-)                                                         
      General Meeting                  : N/A                                  
    Other Distribution for             : N/A                                  
      Current Period                                                          
                                                                              
    B/C Dates for Other                                                       
      Distribution                     : N/A                                  
                                                                              
    Remarks:                                                                  
                                                                              
    1. BASIS OF PREPARATION AND PRINCIPAL ACCOUNTING POLICIES                 
                                                                              
    The condensed financial statements have been prepared in accordance with  
    the applicable disclosure requirements of Appendix 16 to the Rules        
    Governing the Listing of Securities ("Listing Rules") on The Stock        
    Exchange of Hong Kong Limited (the "Stock Exchange") and with Statement of
    Standard Accounting Practice ("SSAP") 25 "Interim financial reporting"    
    issued by the Hong Kong Institute of Certified Public Accountants.        
                                                                              
                                                                              
    2. LOSS PER SHARE                                                         
                                                                              
    The calculation of basic loss per share is based on the Group's loss      
    attributable to shareholders after preference dividend for the six months 
    ended 31 October 2004 of approximately HK$40,493,000 (2003:               
    loss of HK$2,070,000) and on the weighted average of 1,676,509,557        
    (2003: 1,345,203,852 ordinary shares) ordinary shares in issue during the 
    period.                                                                   
                                                                              
    The diluted loss per share for the period has not been disclosed as the   
    potential shares arising from the conversion of the Company's convertible 
    notes and convertible preference shares would decrease the loss per share 
    of the Group for the period and is regarded as anti-dulutive.             
                                                                              
    For more details, please refer to the press announcement today.