08:53     HGC HOLDINGS<00757> - Results Announcement (2)                      

    The calculation of the basic earnings per share is based on the Group's   
    profit attributable to shareholders for the year ended 31 December 2004 of
    HK$96,512,000 (2003: HK$52,840,000) and the weighted average of 6,509,133 
    ,564 ordinary shares in issue during the year ended 31 December 2004 (    
    2003: 4,875,000,000 ordinary shares).                                     
                                                                              
    The calculation of diluted earnings per share for the year ended 31       
    December 2004 is based on the Group's profit attributable to shareholders 
    for the year of HK$96,512,000, adjusted for the interest saved in         
    conversion of the convertible note of HK$25,792,000.  The weighted average
    number of ordinary shares used in the calculation is 6,509,133,564        
    ordinary shares in issue during the year, adjusted for the weighted       
    average of 204,435 ordinary shares assumed to have been issued at no      
    consideration on the deemed exercise of all outstanding share options, and
    for the weighted average of 2,686,703,096 ordinary shares assumed to have 
    been converted from the convertible note.                                 
                                                                              
    For more details, please refer to the press announcement today.