09:21     ARGOS ENT<08022> - Yearly Results Announcement (1)                  

                                                                              
    ARGOS ENTERPRISE (HOLDINGS) LIMITED announced on 31/03/2005:              
    (stock code: 08022 )                                                      
                                                                              
    Year end date                         :31/12/2004                         
    Currency                              :HKD                                
    Auditors' report                      :Qualified                          
                                                                              
                                                                              
    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 01/01/2004   from 01/01/2003  
                                             to 31/12/2004     to 31/12/2003  
                                                     $'000             $'000  
                                                                              
    Turnover                              :        119,364            98,178  
    Profit/(Loss) from Operations         :          9,618             5,899  
    Finance cost                          :         (2,286)           (2,075) 
    Share of Profit/(Loss) of Associates  :            N/A               N/A  
    Share of Profit/(Loss) of Jointly                                         
             Controlled Entites           :            N/A               N/A  
    Profit/(Loss) after Taxation & MI     :          1,723               148  
    % Change Over the Last Period         :      +1,064.19%                   
    EPS / (LPS)                                                               
              Basic (in dollar)           :     HKD 0.0096        HKD 0.0008  
              Diluted (in dollar)         :            N/A               N/A  
    Extraordinary (ETD) Gain/(Loss)       :            N/A               N/A  
    Profit (Loss) after ETD Items         :          1,723               148  
    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                                                      
    ARGOS ENTERPRISE (HOLDINGS) LIMITED                                       
                                                                              
    Signature :                                                               
    Name      : Bono Wong                                                     
    Title     : Company Secretary                                             
                                                                              
    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.  Group reorganisation and basis of presentation                        
                                                                              
         The Company was incorporated in Hong Kong on 13 October, 2000        
         as a limited liability company under the Hong Kong Companies         
         Ordinance. Pursuant to a group reorganization scheme (the "Group     
         Reorganization") to rationalize the structure of the Group in        
         preparation for the listing of the Company's shares on GEM of the    
         Stock Exchange on 13 August 2001, the Company became the holding     
         company of the Group on 30 July 2001.  Further details of the        
         Reorganization are set out in the prospectus of the Company          
         dated 31 July 2001 (the "Prospectus").                               
                                                                              
         The Group's financial statements have been prepared in accordance    
         with the Hong Kong Statements of Standard Accounting Practice,       
         accounting principles generally accepted in Hong Kong and the        
         disclosure requirements of the Hong Kong Companies Ordinance.        
         They have been prepared under the historical cost convention.        
                                                                              
         The Group financial statements include the financial statements      
         of the Company and its subsidiaries made up to 31 Dec., 2004. The    
         Group Reorganisation above has been accounted for by using merger    
         accounting.  Apart from the Group Reorganisation, the results of     
         subsidiaries acquired or disposed of during the period are included  
         in the consolidated income statement from the effective date of      
         acquisition or up to the effective date of disposal, as              
         appropriate.