08:52     HENDERSON INV<00097> - Results Announcement (2)                     

    Note 3                                                                    
    Profit/(Loss) from Operations                                             
                                                                              
    Profit from Operations is stated after interest income and other income,  
    but before finance costs, share of profits and losses of associates and   
    jointly controlled entities, taxation and minority interests.             
                                                                              
    Note 4                                                                    
    Earnings per Share                                                        
                                                                              
    The calculation of earnings per share is based on the net profit for the  
    period of HK$867,852,000 (2003 restated: HK$830,064,000) and on 2,817,327 
    ,395 (2003: 2,817,327,395) ordinary shares in issue during the period.    
    Diluted earnings per share is not shown as there were no dilutive         
    potential shares in existence for the six months ended 31st December, 2004
    and 31st December, 2003.                                                  
                                                                              
    For more details, please refer to the press announcement today.