09:03     VEDAN INT'L<02317> - Results Announcement (2)                       

                                                                              
    2. Earnings per share                                                     
                                                                              
    The calculation of basic earnings per share is based on the Group's profit
    attributable to shareholders of US$24,334,000 (2003: US$22,079,000) less  
    preference dividends of nil (2003: US$344,000).                           
                                                                              
    The basic earnings per share is based on the weighted average number of   
    1,514,746,356 (2003: 1,264,507,549 deemed to be in issue) ordinary shares 
    in issue during the year. In determining the weighted average number of   
    ordinary shares in issue for the year ended 31st December 2003, a total of
    1,148,584,000 ordinary shares were deemed to be in issue since 1st January
    2003 after taking into consideration of the effect of the capitalisation  
    issue.                                                                    
                                                                              
    The calculation of diluted earnings per share is based on the Group's     
    profit attributable to shareholders of US$24,334,000 (2003: US$22,079,000 
    ). The diluted earnings per share for the year ended 31st December 2004 is
    based on 1,541,242,000 (2003: 1,349,236,022) ordinary shares which is the 
    weighted average number of ordinary shares plus the weighted average      
    number of ordinary shares deemed to be in issue as if all outstanding pre 
    -IPO share options had been exercised.                                    
                                                                              
    For more details, please refer to the press announcement today.