08:48     ABC MULTIACTIVE<08131> - Yearly Results Announcement (2)            

                                                                              
       not demand repayment of the promissory note in the amount of           
       HK$4,634,000 within twelve months from the balance sheet and has       
       wagreed to extend the maturity date of the promissory note to          
       21 February 2006.                                                      
       The directors are confident that the Group's future operations will    
       be successful and able to generate sufficient cash flows in order      
       to meet its obilgations as they fall due over the next twelve months.  
       Accordingly, the directors are satisfied that it is appropriate to     
       prepare the financial statements on a going concern basic.             
                                                                              
       In the current year, the Group adopted the following revised SSAP      
       issued by the Hong Kong Institute of Certified Public Accountants      
       (the "HKICPA") which is effective for the accounting periods           
       commencing on or after 1 January 2003 :                                
                                                                              
       SSAP 12 (revised) : Income taxes                                       
                                                                              
       The principal effect of the implementation of SSAP 12 (revised) is     
       in relation to deferred tax. In previous years, partial provision      
       was made for deferred tax using the income statement liability         
       method, i.e. a liability was recognised in respect of timing           
       differences arising, except where those timing differences were not    
       expected to reverse in the foreseeable future. SSAP 12 (revised)       
       requires the adoption of a balance sheet liability method, whereby     
       deferred tax is recognised in respect of all temporary differences     
       between the carrying amount of assets and liabilities in the           
       financial statements and the corresponding tax bases used in the       
       computation of taxable profit, with limited exceptions. In the         
       sbsence of any specific transitional requirements in SSAP 12           
       (revised) the new accounting ploicy has been applied                   
       retrospectively.                                                       
                                                                              
       The adpotion of SSAP 12(revised) has no material impact on the         
       results for the current or prior accounting period.                    
                                                                              
    2. Basic profit per share                                                 
                                                                              
       The calculation of basic profit per share for the year                 
       ended 30th November 2004 is based on the Group's net profit            
       for the year of HK$564,000 (2003 : net profit of HK$7,788,000).        
       and the weight average of 160,590,967 ordinary shares of               
       HK$0.10 each in issue during the year.                                 
                                                                              
       Pursuant to a resolution in writing of the shareholders of the         
       Company on 6th January 2004, every ten of the authorised, issued       
       and unissued ordinary shares of HK$0.01 each in the share capital      
       of the Company were consolidated into one share such that the          
       authorised share capital of the Company became HK$1,000,000,000        
       consisting of 10,000,000,000 ordinary shares of HK$0.10 each and       
       the issued share capital of the Company was HK$16,059,097              
       consisting of 160,590,967 of HK$0.10 each. As such, the comparative    
       figure of basic earnings per share for the year ended                  
       30th November 2003 was re-calculated based on the profit for the       
       year of HK$7,788,000, and the adjusted weighted average of             
       160,590,967 ordinary shares of HK$0.10 each deemed in issue during     
       the year.                                                              
                                                                              
       Diluted earnings per share has not been presented as there             
       was no dilutive potential ordinary share in existence during the       
       year.