13:30     PERENNIAL INT'L<00725> - Results Announcement                       

    Perennial International Limited announced on 30/03/2005:                  
    (stock code: 00725 )                                                      
    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                           : 303,143            238,928           
    Profit/(Loss) from Operations      : 15,979             17,011            
    Finance cost                       : (2,004)            (1,396)           
    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       : 15,150             15,719            
    % Change over Last Period          : -4        %                          
    EPS/(LPS)-Basic (in dollars)       : 0.076              0.079             
             -Diluted (in dollars)     : N/A                N/A               
    Extraordinary (ETD) Gain/(Loss)    : N/A                N/A               
    Profit/(Loss) after ETD Items      : 15,150             15,719            
    Final Dividend                     : 2 cents            1 cent            
      per Share                                                               
    (Specify if with other             : N/A                N/A               
      options)                                                                
                                                                              
    B/C Dates for                                                             
      Final Dividend                   : 25/04/2005         to 29/04/2005 bdi.
    Payable Date                       : 13/05/2005                           
    B/C Dates for (-)                                                         
      General Meeting                  : N/A                                  
    Other Distribution for             : N/A                                  
      Current Period                                                          
                                                                              
    B/C Dates for Other                                                       
      Distribution                     : N/A                                  
                                                                              
    Remarks:                                                                  
                                                                              
                                                                              
    Note 1                                          2004            2003      
                                                    HK$'000         HK$'000   
                                                                              
    Operating profit before exception items         16,076          13,301    
                                                                              
    Exceptional items                                                         
      Revaluation surplus on leasehold land                                   
         and buildings                              163             2,738     
      (Loss)/gain on disposal of fixed assets       (260)           972       
                                                    --------        --------  
                                                    15,979          17,011    
                                                                              
                                                    ========        ========  
                                                                              
    Note 2                          2004                    2003              
                                    HK$'000                 HK$'000           
                                                                              
    Operating profit                15,979                  17,011            
                                                                              
    Finance costs                   (2,004)                 (1,396)           
                                    ---------               --------          
                                    13,975                  15,615            
                                                                              
    Hong Kong profits tax   (158)                   (601)                     
    Overseas taxation       (473)                   (332)                     
    Deferred taxation                                                         
       under SSAP 12                                                          
       (Revised)            1,806   1,175           1,037   104               
                            ------- -----------     ------- --------          
                                    15,150                  15,719            
                                    ===========             ========          
                                                                              
    The accounting policies and methods of computation used in the preparation
    of these audited consolidated accounts are consistent with those adopted  
    in the annual accounts for the year ended 31st December 2002 except that  
    the Group has changed its accounting policy following its adoption of SSAP
    12 "Income Taxes" issued by Hong Kong Institute of Certified Public       
    Accountants which is effective for accounting period commencing on or     
    after 1st January 2003.