13:25     CLP HOLDINGS<00002> - Results Announcement                          

    CLP Holdings Limited announced on 28/2/2005:                              
    (stock code: 2)                                                           
    Year end date: 31/12/2004                                                 
    Currency: HK$                                                             
    Auditors' Report: Unqualified                                             
    Review of Interim Report by: N/A                                          
                                                                              
                                                                (Audited)     
                                               (Audited)        Last          
                                               Current          Corresponding 
                                               Period           Period        
                                               from 1/1/2004    from 1/1/2003 
                                               to 31/12/2004    to 31/12/2003 
                                        Note   ('Million)       ('Million)    
    Turnover                                 : 30,784           28,248        
    Profit/(Loss) from Operations                                             
      Operating Profit                       :  8,104            6,612        
    Finance costs                            : (1,046)           (688)        
    Finance income                           :     63              48         
    Hok Un redevelopment profit           1  :    187             291         
    Share of Profits less losses of                                           
      Jointly Controlled Entities            :  3,181            3,399        
    Share of Profits less losses of                                           
      Associated Companies                   :    236              102        
    Profit/(Loss) after Tax & MI             :  8,910            8,052        
    Transfers under Scheme of Control        :  (296)            (365)        
    Earnings                                                                  
        Scheme of Control earnings           :  6,788            6,281        
        Non-Scheme of Control operating                                       
         earnings                            :  1,671            1,600        
        Unallocated net finance costs        :   (61)              (63)       
        Unallocated Group expenses           :  (157)             (371)       
                                             -----------------------------    
        Total operating earnings             :  8,241            7,447        
        Hok Un redevelopment profit and                                       
           property disposal gain         1  :    373              240        
                                            -----------------------------     
        Total earnings                       :  8,614            7,687        
                                            -----------------------------     
        % Change over Last Period            : +12.1%                         
    EPS/(LPS)-Basic (in dollars)          2                                   
      Including Hok Un redevelopment profit                                   
        and property disposal gain           : $3.58            $3.19         
      Excluding Hok Un redevelopment profit                                   
        and property disposal gain           : $3.42            $3.09         
             -Diluted (in dollars)           : N/A              N/A           
    Extraordinary (ETD) Gain/(Loss)          : N/A              N/A           
    Profit/(Loss) after ETD Items            : N/A              N/A           
    Final Dividend per Share                 : $0.73            $0.65         
    Special Final Dividend per Share         : $0.15            $0.10         
    B/C Dates for Final Dividend & Special                                    
      Final Dividend                         : 19/4/2005 to 28/4/2005 bdi.    
    Payable Date                             : 29/4/2005                      
    B/C Dates for (-) General Meeting        : N/A                            
    Other Distribution for Current Period    : N/A                            
    B/C Dates for Other Distribution         : N/A                            
                                                                              
    Remarks:                                                                  
                                                                              
    (1)     During the year, the Group recorded its share of profit (HK$159   
    million after tax) arising from the sale of units of Laguna Verde, the    
    former power station site at Hok Un and the gain (HK$214 million) from the
    sale of a former substation site at 305 Castle Peak Road, Hong Kong.      
                                                                              
    (2)     The 2004 earnings per share figures are based on the number of    
    shares in issue of 2,408,245,900 (2003: 2,408,245,900) during the year.   
    The Company did not have any diluting equity instruments as at 31 December
    2004.