09:04     VERTEX GROUP<08228> - Yearly Results Announcement                   

    Vertex Communications & Technology Group Limited announced on             
    30 March 2005:                                                            
    (stock code: 08228 )                                                      
                                                                              
    Year end date                         :31 December 2004                   
    Currency                              :HKD                                
    Auditors' report                      :Modified                           
                                                                              
                                                                              
    Important Note :                                                          
    This result announcement form only contains extracted information from    
    and should be read in conjunction with the detailed results announcement  
    of the issuer, which can be viewed on the GEM website at                  
    http://www.hkgem.com                                                      
                                                                              
                                                (*audited)       (* audited)  
                                                  Current Last Corresponding  
                                                   Period            Period   
                                           from 1 Jan 2004   from 1 Jan 2003  
                                            to 31 Dec 2004    to 31 Dec 2003  
                                                     $'000             $'000  
                                                                              
    Turnover                              :          7,283             6,586  
    Profit/(Loss) from Operations         :       (40,513)          (33,109)  
    Finance cost                          :          (264)               N/A  
    Share of Profit/(Loss) of Associates  :            N/A           (1,895)  
    Share of Profit/(Loss) of Jointly                                         
             Controlled Entites           :            N/A               N/A  
    Profit/(Loss) after Taxation & MI     :       (28,401)          (35,552)  
    % Change Over the Last Period         :            N/A                    
    EPS / (LPS)                                                               
              Basic (in dollar)           :    (HKD 0.0574)      (HKD 0.0722) 
              Diluted (in dollar)         :            N/A               N/A  
    Extraordinary (ETD) Gain/(Loss)       :            N/A               N/A  
    Profit (Loss) after ETD Items         :       (28,401)          (35,552)  
    Final Dividends per Share             :            NIL               NIL  
    (specify if with other options)       :            N/A               N/A  
    B/C Dates for Final Dividends         :            N/A                    
    Payable Date                          :            N/A                    
    B/C Dates for (-) General Meeting     :            N/A                    
    Other Distribution for Current Period :            NIL                    
    B/C Dates for Other Distribution      :            N/A                    
                                           (bdi: both days inclusive)         
                                                                              
    For and on behalf of                                                      
    Vertex Communications & Technology Group Limited                          
                                                                              
    Signature :                                                               
    Name      : Poon Kwok Lim, Steven                                         
    Title     : Chairman                                                      
                                                                              
    Responsibility statement                                                  
    The directors of the Company (the "Directors") as at the date hereof      
    hereby collectively and individually accept full responsibility for the   
    accuracy of the information contained in this results announcement form   
    (the "Information") and confirm, having made all reasonable inquiries,    
    that to the best of their knowledge and belief the Information are        
    accurate and complete in all material respects and not misleading and     
    that there are no other matters the omission of which would make the      
    Information herein inaccurate or misleading.The Directors acknowledge     
    that the Stock Exchange has no responsibility whatsoever with regard to   
    the Information and undertake to indemnify the Exchange against all       
    liability incurred and all losses suffered by the Exchange in connection  
    with or relating to the Information.                                      
                                                                              
    Remarks:                                                                  
    1. Basis of Preparation and Accounting Policies                           
                                                                              
    The accounts have been prepared in accordance with accounting             
    principles generally accepted in Hong Kong and comply with                
    accounting standard issued by Hong Kong Society of Accountants. They      
    have been prepared under the historical cost convention.                  
                                                                              
    The accounts have been prepared on a going concern basis, the             
    validity of which depends upon future funding being available to          
    meet the debts and liabilities as and when they fall due in the           
    foreseeable future. The financial statements do not include any           
    adjustment that may result from the failure to obtain such funding.       
                                                                              
    2. Loss per share                                                         
                                                                              
    The calculation of the Group's basic loss per share                       
    for the year ended 31st Dec 2004 is based                                 
    on the Group's audited loss attributable to                               
    shareholders of approximately HK$28,401,000 (2003: loss of                
    HK$35,552,000) and on the weighted average number of 495,064,029          
    (2003: 492,196,232) deemed to be issued throughout the periods.           
                                                                              
    No diluted loss per share was presented as there were no dilutive         
    potential shares in existence during the year ended                       
    31st Dec 2004 (year ended 31st Dec 2003: Nil)                             
                                                                              
    3. Modified and unqualified auditors' report                              
    The auditors' report of the Group for the year ended 31 December 2004 has 
    been unqualified and modified for the financial uncertainty.