08:48     G. A. HOLDINGS<08126> - Yearly Results Announcement (2)             

                                                                              
    2. Turnover                                                               
                                                                              
    Turnover represents the net invoiced value of goods sold after allowances 
    for returns, trade discounts, other taxes related to sales where          
    applicable, and services rendered.                                        
                                                                              
    The Group has recorded a total turnover of approximately                  
    SGD$100,246,000 for the year ended 31 December 2004 representing          
    a decrease of approximately 28% over the corresponding period             
    of 2003.                                                                  
                                                                              
    3. Earnings per share                                                     
                                                                              
    The calculation of basic earnings per share is based on the               
    net profit from ordinary activities attributable to                       
    shareholders for the year of S$1,741,000 (2003: S$3,341,000)              
    and 400,000,000 (2003: 400,000,000) ordinary                              
    shares in issue during the year.                                          
                                                                              
    No diluted earnings per share amounts have been presented for             
    the two years ended 31 December 2004 and 2003 as no dilutive potential    
    ordinary shares existed during those years.