08:58     PLASMAGENE<08250> - Quarterly Results Announcement (2)              

                                                                              
    The accounting policies and methods of computation used in the            
    preparation of these condensed financial statements are consistent        
    with those used in the annual financial statements for the year           
    ended 30 June 2004.                                                       
                                                                              
    All significant intra-group transactions and balances have been           
    eliminated on consolidation.                                              
                                                                              
                                                                              
    3. Loss per share                                                         
                                                                              
    The calculation of the basic loss per share for the six months ended      
    31 December 2004 is based on the unaudited loss attributable to the       
    shareholders of approximately HK$2,875,000 (2003: loss of approximately   
    HK$2,258,000) and on the weighted average number of ordinary shares of    
    330,417,391 (2003: 238,000,000 ordinary shares after adjustment for       
    the capitalisation issue) in issue during the period.                     
                                                                              
    The computaton of diluted loss per share for the six months ended         
    31 December 2004 and 2003 has not been presented because the assumed      
    conversion of the Company's convertible notes at the date of issue,       
    which were outstanding during the period, had anti-dilutive effects       
    on the respective basic loss per share.                                   
                                                                              
                                                                              
    4. Interim dividend                                                       
                                                                              
    The Directors do not recommend the payment of an interim dividend         
    for the six months ended 31 December 2004 (2003: Nil).