13:14     MILLENNIUM GP<00260> - Results Announcement (2)                     

                                                                              
    Geographical segments                                                     
                                                                              
    The Group's operations are located in the People's Republic of China (the 
    "PRC"), Hong Kong and Singapore.  The following table provides an analysis
    of the Group's turnover by geographical market, irrespective of the origin
    of the goods/services:                                                    
                                                           Revenue by         
                                                       geographical market    
                                                          Six months ended    
                                                    31.12.2004      31.12.2003
                                                    (unaudited)     (         
    unaudited)                                                                
                                                    HK$'000         HK$'000   
                                                                              
    The PRC                                         38,104          -         
    Hong Kong                                       14,232          74,843    
    Singapore                                       -               152       
                                                    _______         _______   
                                                    52,336          74,995    
                                                    _______         _______   
                                                    _______         _______   
                                                                              
                                                                              
    2.      (LOSS) EARNINGS PER SHARE                                         
                                                                              
    The calculation of (loss) earnings per share is based on the following    
    data:                                                                     
                                                                              
                                                         Six months ended     
                                                    31.12.2004      31.12.2003
                                                    (unaudited)     (         
    unaudited)                                                                
                                                                              
    Net (loss) profit for the period (HK$'000)      (8,220)         2,218     
                                                    ____________  ____________
                                                    ____________  ___________ 
                                                                              
    Weighted average number of shares for the purposes                        
    of basic and diluted (loss) earnings                                      
    per share                                      3,261,473,277 2,464,504,856
                                                    ____________  ____________
                                                    ____________  ____________
                                                                              
    The weighted average number of ordinary shares for the calculation of     
    basic earning per share for the six months ended 31st December, 2003 has  
    been adjusted for the rights issue of the Company which was completed on  
    16th February 2004.                                                       
                                                                              
    The computation of diluted loss per share for the six months ended 31st   
    December, 2004 did not assume the exercise of the Company's outstanding   
    warrants as their exercise would result in a decrease in net loss per     
    share for the period.  The Company did not have any potential ordinary    
    shares during the six months ended 31st December, 2003.                   
                                                                              
    3.      MODIFIED OPINION EXTRACTED FROM THE INDEPENDENT REVIEW REPORT OF  
    THE AUDITORS                                                              
                                                                              
    Fundamental uncertainty relating to litigation                            
                                                                              
    In forming our conclusion we have considered the adequacy of the          
    disclosures made in notes 9 and 15 to interim the financial report        
    concerning the possible outcome of the litigation against China Media     
    International Group Limited in respect of the Company's investment in     
    unlisted overseas equity securities in CMEP Limited amounting to HK$137,  
    858,000 included in the carrying amounts of investments in securities of  
    the Group as at 31st December, 2004. The future settlement of this        
    litigation may have an effect on the net assets of the Group as at 31st   
    December, 2004 and the loss of the Group for the six months ended 31st    
    December, 2004.  However, it is not possible to quantify the effects, if  
    any, of the resolution of this uncertainty. We consider that appropriate  
    disclosures have been made and our opinion is not modified in this        
    respect.                                                                  
                                                                              
    Review conclusion                                                         
                                                                              
    On the basis of our review which does not constitute an audit, we are not 
    aware of any material modifications that should be made to the interim    
    financial report for the six months ended 31st December, 2004.            
                                                                              
    4.      CHANGE OF YEAR END DATE                                           
                                                                              
    On 28th February, 2005, the Board resolved to change the financial year   
    end date of the Company from 30th June to 31st December commencing from   
    the financial year 2005, covering a period from 1st July, 2004 to 31st    
    December, 2005.