08:33     CHIA TAI ENT<00121> - Results Announcement                          

    Chia Tai Enterprises International Limited announced on 24/03/2005:       
    (stock code: 00121 )                                                      
    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                           : 1,061,295          318,238           
    Profit/(Loss) from Operations      : (162,985)          (119,963)         
    Finance cost                       : (7,673)            (3,913)           
    Share of Profit/(Loss) of                                                 
      Associates                       : (13,442)           (17,732)          
    Share of Profit/(Loss) of                                                 
      Jointly Controlled Entities      : 28,990             18,980            
    Profit/(Loss) after Tax & MI       : (141,142)          65,551            
    % Change over Last Period          : N/A       %                          
    EPS/(LPS)-Basic (in dollars)       : (0.0235)           0.0109            
             -Diluted (in dollars)     : N/A                0.0105            
    Extraordinary (ETD) Gain/(Loss)    : N/A                N/A               
    Profit/(Loss) after ETD Items      : (141,142)          65,551            
    Final Dividend                     : Nil                Nil               
      per Share                                                               
    (Specify if with other             : N/A                N/A               
      options)                                                                
                                                                              
    B/C Dates for                                                             
      Final Dividend                   : N/A                                  
    Payable Date                       : N/A                                  
    B/C Dates for (-)                                                         
      General Meeting                  : N/A                                  
    Other Distribution for             : N/A                                  
      Current Period                                                          
                                                                              
    B/C Dates for Other                                                       
      Distribution                     : N/A                                  
                                                                              
    Remarks:                                                                  
                                                                              
    1.All of the Turnover and Loss after Taxation & Minority Interest in years
    2004 and 2003 are from the continuing operations.                         
                                                                              
    2. The calculation of the basic loss per share for the year is based on   
    the net loss attributable to shareholders for the year of HK$141,142,000  
    (2003: net profit of HK$65,551,000) and on the 5,996,614,408              
    (2003: 5,996,614,408) shares in issue during the year.                    
                                                                              
    During the year ended 31 December 2004, no diluted loss per share is      
    presented as the exercise of the outstanding share option would result in 
    a decrease in net loss per share.                                         
                                                                              
    The calculation of the diluted earnings per share for the year ended 31st 
    December, 2003 is based on the net profit of approximately HK$65,551,000  
    (2002: HK$105,247,000) and on the weighted average number of 6,252,207,809
    (2002: 6,175,249,762) shares issued and issuable, calculated on the       
    assumption that all of the outstanding share options had been exercised in
    full on their date of grant.                                              
                                                                              
    Explanation for the change of the last corresponding results:             
                                                                              
    The net profit of HK$65,551,000 in 2003 has not been changed from the     
    previous Announcement Form submitted. The only change from the previous   
    Announcement Form was:                                                    
                                                                              
    (i)     Turnover changed from HK$349,107,000 to HK$318,238,000, being HK$ 
    30,083,000 was reclassified and separately disclosed as promotion and     
    services income and HK$786,000 was reclassified to gross rental income    
    from leasing of shop premises which was separately disclosed              
    The gross rental income from leasing of shop premises in 2003 was HK$2,   
    254,000 of which HK$786,000 was reclassified from turnover and the        
    remaining balance was reclassified from other income.                     
                                                                              
    (ii)    Loss from operations was changed from HK$118,478,000 to HK$119,   
    963,000 being the reclassification of the amount of HK$3,750,000 from     
    administrative expenses to finance costs and reclassified the amount of   
    HK$5,235,000 from other income to release of negative of associates which 
    are disclosed separately and not include in "loss from operations".       
                                                                              
    For more details, please refer to the press announcement today.