08:54     HOPEWELL HOLD<00054> - Results Announcement (2)                     

    2)      Profit/(Loss) after Taxation and Minority Interests for the       
    current period includes:                                                  
                                                                              
    i)      Gain on Disposal of a Power Station Project of HK$404,450,000 (six
    months ended 31.12.2003: Nil)                                             
    The disposal of the Tanjung Jati B Power Station in Indonesia for a       
    consideration of US$306.2 million was completed in 2003.  The             
    consideration is payable by instalments over a period of 39 months.       
    Further instalments of US$52.9 million received by the Group have been    
    recognised in the current period, and instalments totalling US$32.3       
    million are still outstanding.  Since the timing and ultimate receipt of  
    the remaining instalments could be materially affected by the occurrence  
    of certain events stipulated in the loan agreements and the finance lease 
    agreements entered into by the purchasers, including, inter alia, force   
    majeure events which would have a material adverse effect on the          
    construction of the plant resulting in the cancellation by the lenders of 
    the project loan facilities granted to the purchasers, such instalments   
    will only be recognised by the Group when payments are received.          
                                                                              
    ii)     Gain on disposal of interests in jointly controlled entities of   
    HK$495,633,000 (six months ended 31.12.2003: Nil)                         
    The principal conditions stipulated in the agreements for the disposals of
    the Group's entire interests in two jointly controlled entities have been 
    fulfilled in the current period.  At the time of the disposal, the        
    consideration for the disposal of one of the jointly controlled entities  
    and part of the amount due from the jointly controlled entity totalling   
    HK$583 million was received by the Group.  The remaining amount due from  
    that jointly controlled entity of HK$240 million has not yet been         
    received.  The remaining outstanding balance of HK$240 million is         
    unsecured and will be repayable by three annual instalments commencing    
    from 31st December, 2005.  In determining the gain on disposal of that    
    jointly controlled entity, the receipt of the sale consideration and      
    amount repaid by that jointly controlled entity totalling HK$583 million  
    has been taken into account.  However, the recoverability of the remaining
    unsecured balance of HK$240 million is dependent on the financial position
    of the underlying entities which is uncertain.  Accordingly, the balance  
    has not been currently recognised.                                        
                                                                              
    3)      Earnings Per Share                                                
                                                 Six months ended             
                                            31.12.2004      31.12.2003        
                                            HK$'000         HK$'000           
    The calculation of the basic and diluted earnings per share is based on   
    the following data:                                                       
                                                                              
    Earnings for the purposes of basic earnings per share                     
        Net profit for the period           1,267,735       625,534           
                                                                              
    Effect of dilutive potential ordinary shares of HHI:                      
        Adjustment to the Group's results arising from a dilution of          
        HHI's earnings attributable to warrants issued                        
                                            (2,172)         (484)             
                                            ---------------------------       
    Earnings for the purposes of diluted earnings per share                   
                                            1,265,563       625,050           
                                            ========================          
                                                                              
                                            Number           Number           
                                            of shares        of shares        
    Weighted average number of ordinary shares                                
     for the purposes of basic earnings per share                             
                                            893,665,219     876,827,230       
                                                                              
    Effect of dilutive potential ordinary shares:                             
      Share options                         2,469,416       4,108,338         
                                            ---------------------------       
    Weighted average number of ordinary                                       
     shares for the purposes of diluted                                       
     earnings per share                     896,134,635     880,935,568       
                                            =============================     
                                                                              
    4)      Dividends                                                         
                                            Six months ended                  
                                            31.12.2004      31.12.2003        
                                            HK$'000         HK$'000           
    Interim dividend declared                                                 
       HK12 cents (year ended 30.6.2004:                                      
       HK10 cents) per share                107,768         87,758            
    Special interim dividend declared                                         
       HK30 cents (year ended 30.6.2004:                                      
       HK30 cents) per share                269,421         263,275           
    Additional prior period's final dividend                                  
     paid on shares issued subsequent to                                      
     approval of financial statements       300             270               
                                            ------------------------          
                                            377,489         351,303           
                                            =======================           
            The directors have declared that an interim dividend and a special
    interim dividend in respect of the financial year ending 30th June, 2005  
    of HK12 cents (year ended 30.6.2004: HK10 cents) per share and HK30 cents 
    (year ended 30.6.2004:  HK 30 cents) per share respectively shall be paid 
    to the shareholders of the Company whose names appear on the Register of  
    Members on 24th March, 2005.                                              
    For more details, please refer to the press announcement today.