08:56 MTR CORPORATION<00066> - Results Announcement (5) 10. HUMAN RESOURCES Throughout the year, the Company continued to work closely with employees at all levels to enhance further the support of our skilled, talented and committed workforce. There were 6,555 employees with the Group, excluding Octopus Cards Limited, as at 31 December 2004 as compared to 6,629 as at December 2003. To drive the Company forward, the new Vision, Mission and Core Values were communicated to all staff. A dedicated resource pool for growth business was built up. The well-structured, competitive remuneration has helped maintain a high level of staff motivation. Regarding the possible merger with Kowloon-Canton Railway Corporation ("KCRC"), extensive open and transparent communication was carried out with staff to update them on the progress of merger discussions. The Company also took significant steps to address staff concerns identified by the comprehensive 2003 Staff Attitude Survey. Direct communication between staff and senior management and the communication skills of middle management were further enhanced. The Company once again received several awards in recognition of its achievements in human resources practices. For the third consecutive time, the Company received the Good People Management Award from the Hong Kong Labour Department. The Company successfully gained ISO9001, ISO14001 and OHSAS18001 accreditations for its Integrated Management System. The Group's training efforts were again recognised with numerous local and international awards. 11. PURCHASE, SALE OR REDEMPTION OF OWN SECURITIES During the year ended 31 December 2004, neither the Company nor its subsidiaries purchased, sold or redeemed any of its listed securities. 12. CHARGE ON GROUP ASSETS None of the Group's assets are charged or subject to any encumbrance. 13. ANNUAL GENERAL MEETING It is proposed that the Annual General Meeting of the Company will be held on 2 June 2005. For details of the Annual General Meeting please refer to the Notice of Annual General Meeting which is expected to be published on or about 12 April 2005. 14. CORPORATE GOVERNANCE The Company has complied throughout the year ended 31 December 2004 with the Code of Best Practice set out in Appendix 14 to the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Exchange") except that non-executive Directors of the Company are not appointed for a specific term but are subject (save for those appointed pursuant to Section 8 of the Mass Transit Railway Ordinance) to retirement by rotation and re-election at the Company's annual general meetings in accordance with Articles 87 and 88 of the Company's Articles of Association. Dr. Raymond Ch'ien Kuo-fung, a member of the Board, was appointed as the non-executive Chairman of the Company with effect from 21 July 2003 for a term of 3 years. 15. PUBLICATION OF DETAILED RESULTS ANNOUNCEMENT ON THE EXCHANGE'S WEBSITE A detailed results announcement containing all the information required by paragraphs 45(1) to 45(3) of Appendix 16 to the Rules Governing the Listing of Securities on the Exchange in force prior to 31 March 2004, which remain applicable to results announcements in respect of accounting periods commencing before 1 July 2004 under the transitional arrangements, will be published on the Exchange's website within 14 days following the date of this announcement. 16. CLOSURE OF REGISTER OF MEMBERS The Register of Members of the Company will be closed from 23 March 2005 to 1 April 2005 (both dates inclusive). In order to qualify for the final dividend, all transfers, accompanied by the relevant share certificates, must be lodged with the Company's Registrar, Computershare Hong Kong Investor Services Limited at Shops 1712-1716, 17th Floor, Hopewell Centre, 183 Queen's Road East, Hong Kong for registration not later than 4 p.m. on 22 March 2005. It is expected that the final dividend will be paid on or about 21 June 2005. For more details, please refer to the press announcement today.