08:54     MIDLAND REALTY<01200> - Results Announcement                        

    Midland Realty (Holdings) Limited announced on 10/03/2005:                
    (stock code: 01200 )                                                      
    Year end date: 31/12/2004                                                 
    Currency: HKD                                                             
    Auditors' Report: Unqualified                                             
                                                                              
                                                            (Audited   )      
                                         (Audited   )       Last              
                                         Current            Corresponding     
                                         Period             Period            
                                         from 01/01/2004    from 01/01/2003   
                                         to 31/12/2004      to 31/12/2003     
                                   Note  ('000      )       ('000      )      
    Turnover                           : 1,987,345          1,179,963         
    Profit/(Loss) from Operations      : 421,427            150,811           
    Finance cost                       : (435)              (1,122)           
    Share of Profit/(Loss) of                                                 
      Associates                       : N/A                N/A               
    Share of Profit/(Loss) of                                                 
      Jointly Controlled Entities      : 5,905              1,796             
    Profit/(Loss) after Tax & MI       : 357,238            122,749           
    % Change over Last Period          : +191.03   %                          
    EPS/(LPS)-Basic (in dollars)       : 0.507              0.178             
             -Diluted (in dollars)     : 0.507              0.177             
    Extraordinary (ETD) Gain/(Loss)    : N/A                N/A               
    Profit/(Loss) after ETD Items      : 357,238            122,749           
    Final Dividend                     : $0.123             $0.050            
      per Share                                                               
    (Specify if with other             : N/A                N/A               
      options)                                                                
                                                                              
    B/C Dates for                                                             
      Final Dividend                   : 11/04/2005         to 15/04/2005 bdi.
    Payable Date                       : 20/04/2005                           
    B/C Dates for Annual                                                      
      General Meeting                  : 11/04/2005         to 15/04/2005 bdi.
    Other Distribution for             : N/A                                  
      Current Period                                                          
                                                                              
    B/C Dates for Other                                                       
      Distribution                     : N/A                                  
                                                                              
    Remarks:                                                                  
                                                                              
    1.      Operating Profit                                                  
                                                                              
    The operating profit of HK$421,427,000 is stated after including the      
    surplus arising on revaluation of investment properties of HK$4,309,000   
    and other properties of HK$27,643,000.                                    
                                                                              
    2.      Earnings per share                                                
                                                                              
    The calculation of basic earnings per share is based on the Group's profit
    attributable to shareholders of HK$357,238,000 (2003: HK$122,749,000) and 
    the weighted average number of 704,305,000 (2003: 691,464,000) ordinary   
    shares in issue during the year.                                          
                                                                              
    The diluted earnings per share for the year ended 31st December 2004 was  
    based on the profit of HK$357,238,000 and 704,372,000 ordinary shares     
    which are the weighted average number of ordinary shares in issue during  
    the year plus the weighted average of 67,000 ordinary shares deemed to be 
    issued at no consideration if all outstanding options had been exercised. 
                                                                              
    The diluted earnings per share for the year ended 31st December 2003 was  
    based on the profit of HK$122,749,000 and 695,137,000 ordinary shares     
    which were the weighted average number of ordinary shares in issue during 
    the year plus the weighted average of 3,673,000 ordinary shares deemed to 
    be issued at no consideration if all outstanding warrants and options had 
    been exercised.                                                           
                                                                              
    For more details, please refer to the press announcement today.