13:28     WAH NAM INT'L<00159> - Results Announcement                         

    Wah Nam International Holdings Limited announced on 30/03/2005:           
    (stock code: 00159 )                                                      
    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                           : 30,109             19,194            
    Profit/(Loss) from Operations      : 15,025             (29,787)          
    Finance cost                       : (360)              (360)             
    Share of Profit/(Loss) of                                                 
      Associates                       : N/A                N/A               
    Share of Profit/(Loss) of                                                 
      Jointly Controlled Entities      : N/A                N/A               
    Profit/(Loss) after Tax & MI       : 6,216              (22,441)          
    % Change over Last Period          : N/A       %                          
    EPS/(LPS)-Basic (in dollars)       : 0.0131             (0.0473)          
             -Diluted (in dollars)     : 0.01               N/A               
    Extraordinary (ETD) Gain/(Loss)    : N/A                N/A               
    Profit/(Loss) after ETD Items      : 6,216              (22,441)          
    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 Annual                                                      
      General Meeting                  : 03/05/2005         to 05/05/2005 bdi.
    Other Distribution for             : N/A                                  
      Current Period                                                          
                                                                              
    B/C Dates for Other                                                       
      Distribution                     : N/A                                  
                                                                              
    Remarks:                                                                  
                                                                              
                                                                              
    1.      EARNINGS (LOSS) PER SHARE                                         
                                                                              
            The calculation of the basic and diluted earnings (loss) per share
    is based on the following data:                                           
                                                                              
                                            2004            2003              
                                            HK$'000         HK$'000           
            Earnings (loss) for the purpose of basic earnings (loss)          
              per share                     6,216           (22,441)          
            Effect of dilutive potential ordinary shares:                     
              Interest on convertible notes 360             N/A               
                                            ______          ______            
            Earnings for the purpose of diluted earnings per share            
                                            6,576           (22,441)          
                                            ======          =========         
                                                                              
                                            000'            000'              
            Weighted average number of ordinary shares for the                
              purpose of basic earnings (loss) per share                      
                                            474,838         474,838           
            Effect of dilutive potential ordinary shares:                     
              Shares expected to be issued on the conversion of               
                the convertible notes       180,000         N/A               
                                            ----------      --------          
            Weighted average number of ordinary shares for the                
              purpose of diluted earnings per share                           
                                            654,838         474,838           
                                            =========       ========          
                                                                              
            For the year ended 31 December 2003, the computation of diluted   
    loss per share did not assume the conversion of the Company's outstanding 
    convertible notes since their exercise would result in a decrease in loss 
    per share from continuing ordinary operations.