13:11     CHINA FORCE<01194> - Results Announcement (1)                       

    China Force Oil & Grains Industrial Holdings Co., Ltd. announced on 07/04 
    /2005:                                                                    
    (stock code: 01194 )                                                      
    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                           : 4,569,022          3,308,859         
    Profit/(Loss) from Operations      : 158,348            137,518           
    Finance cost                       : (36,918)           (22,155)          
    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       : 103,312            103,716           
    % Change over Last Period          : -0.39     %                          
    EPS/(LPS)-Basic (in dollars)       : 0.169              0.185             
             -Diluted (in dollars)     : N/A                N/A               
    Extraordinary (ETD) Gain/(Loss)    : N/A                N/A               
    Profit/(Loss) after ETD Items      : 103,312            103,716           
    Final Dividend                     : 3.0 cents          8.4 cents         
      per Share                                                               
    (Specify if with other             : N/A                N/A               
      options)                                                                
                                                                              
    B/C Dates for                                                             
      Final Dividend                   : 12/05/2005         to 17/05/2005 bdi.
    Payable Date                       : 19/05/2005                           
    B/C Dates for Annual                                                      
      General Meeting                  : 12/05/2005         to 17/05/2005 bdi.
    Other Distribution for             : N/A                                  
      Current Period                                                          
                                                                              
    B/C Dates for Other                                                       
      Distribution                     : N/A                                  
                                                                              
    Remarks:                                                                  
                                                                              
    1.      Reorganisation and basis of presentation of financial statements  
                                                                              
    China Force Oil & Grains Industrial Holdings Co., Ltd. (the "Company") was
    incorporated in the Cayman Islands on 14 January 2004 as an exempted      
    company with limited liability under the Companies Law, Cap 22 (Law 3 of  
    1961, as consolidated and revised) of the Cayman Islands.                 
                                                                              
    Pursuant to a group reorganization (the "Reorganisation") of the Company  
    and its subsidiaries (collectively referred to as the "Group") completed  
    on 19 June 2004, the corporate structure of the Group has been            
    rationalized for the listing (the "Listing") of the Company's shares on   
    the Main Board of the Stock Exchange of Hong Kong Limited (the "Stock     
    Exchange").  Pursuant to the Reorganisation, the Company became the       
    holding company of all subsidiaries.  The shares were first listed on the 
    Stock Exchange on 12 October 2004, the Listing date.                      
                                                                              
    Details of the Reorganisation are set out in the prospectus (the "        
    Prospectus") dated 28 September 2004 issued by the Company.               
                                                                              
    The Group is regarded as a continuity resulting from the Reorganisation   
    since all the entities which took part in the Reorganisation were owned by
    the same group of ultimate shareholders before and immediately after the  
    Reorganisation and, consequently, there was a continuation of the risks   
    and benefits to the ultimate shareholders that existed prior to the       
    Reorganisation.  Accordingly the consolidated results have been prepared  
    on the basis of merger accounting, under which the Company was the holding
    company of all members comprising the Group for both years presented,     
    rather than from 19 June 2004.  Furthermore, the results of the Group for 
    the two financial years ended 31 December 2004 include the results of the 
    Company and its subsidiaries with effect from or since their respective   
    dates of incorporation, whichever is a shorter period as if the current   
    group structure had been in existence throughout the years presented.  The
    consolidated balance sheet at 31 December 2003 is a combination of the    
    balance sheets of the Company and its subsidiaries at 31 December 2003.   
    All material intra-group transactions and balances have been eliminated on
    consolidation.  In the opinion of the Directors, the consolidated         
    financial statements prepared on this basis present fairly the results of 
    operations and the state of affairs of the Group as a whole.              
                                                                              
    2.      Turnover                                                          
                                                                              
    The Group is principally engaged in the fractionation, refining, sale and 
    trading of edible oil products in the PRC.                                
                                                                              
    Turnover represents the sales value of edible oils to customers net of    
    value added tax and surcharges.