09:01     PALIBURG HOLD<00617> - Results Announcement (1)                     

    Paliburg Holdings Limited announced on 11/04/2005:                        
    (stock code: 00617 )                                                      
    Year end date: 31/12/2004                                                 
    Currency: HKD                                                             
    Auditors' Report: Modified                                                
                                                                              
                                                            (Audited   )      
                                         (Audited   )       Last              
                                         Current            Corresponding     
                                         Period             Period            
                                         from 01/01/2004    from 01/01/2003   
                                         to 31/12/2004      to 31/12/2003     
                                   Note  ('Million  )       ('Million  )      
    Turnover                           : 698.3              877.4             
    Profit/(Loss) from Operations      : 567.7 (Note 4)     412.3 (Note3 & 4) 
    Finance cost                       : (48.2)             (166.9)           
    Share of Profit/(Loss) of                                                 
      Associates                       : 95.3               (2.8)             
    Share of Profit/(Loss) of                                                 
      Jointly Controlled Entities      : 60.1               206.6             
    Profit/(Loss) after Tax & MI       : 516.8              387.6             
    % Change over Last Period          : +33.3     %                          
    EPS/(LPS)-Basic (in dollars)       : 0.096 (Note 5)     0.119 (Note 5)    
             -Diluted (in dollars)     : 0.076 (Note 5)     0.058 (Note 5)    
    Extraordinary (ETD) Gain/(Loss)    : N/A                N/A               
    Profit/(Loss) after ETD Items      : 516.8              387.6             
    Final Dividend                     : Nil                Nil               
      per Share                                                               
    (Specify if with other             : N/A                N/A               
      options)                                                                
                                                                              
    B/C Dates for                                                             
      Final Dividend                   : N/A                                  
    Payable Date                       : N/A                                  
    B/C Dates for (-)                                                         
      General Meeting                  : N/A                                  
    Other Distribution for             : N/A                                  
      Current Period                                                          
                                                                              
    B/C Dates for Other                                                       
      Distribution                     : N/A                                  
                                                                              
    Remarks:                                                                  
                                                                              
                                                                              
    1.  On 31st July, 2004, Regal Hotels International Holdings Limited ("    
    Regal") ceased to be a subsidiary company of the Company. The results of  
    Regal were accounted for in the consolidated financial accounts of the    
    Group on a consolidation basis in the first 7 months of 2004 and on an    
    equity accounting basis for the remaining 5 months to 31st December, 2004.
                                                                              
                                                                              
    2.  IMPACT OF RECENTLY ISSUED HONG KONG FINANCIAL REPORTING STANDARDS     
        ("HKFRSs")                                                            
                                                                              
    The Hong Kong Institute of Certified Public Accountants has issued a      
    number of new and revised Hong Kong Financial Reporting Standards and Hong
    Kong Accounting Standards ("HKAS"), herein collectively referred to as the
    new HKFRSs, which are generally effective for accounting periods beginning
    on or after 1st January, 2005. The Group has not early adopted these new  
    HKFRSs in the financial statements for the year ended 31st December, 2004.
    The Group has already commenced an assessment of the impact of these new  
    HKFRSs but is not yet in a position to state whether and to what extent   
    these new HKFRSs would have an impact on its results of operations and    
    financial position.                                                       
                                                                              
    Regal, the Group's listed associate, is also in the process of making an  
    assessment of the impact of these new HKFRSs, in particular, HKAS 16 "    
    Property, Plant and Equipment" ("HKAS 16") and Interpretation 23 "The     
    Appropriate Policies for Hotel Properties" ("Interpretation 23"), which   
    affect hotel properties. The adoption of HKAS 16 and Interpretation 23    
    will result in additional depreciation charges on the Regal group's hotel 
    properties, thereby reducing the Regal group's operating results. The     
    Regal group has not come to a final decision as to whether to state its   
    hotel properties at cost less accumulated depreciation or at valuation as 
    permitted under HKAS 16. If the Regal group's hotel properties are to be  
    stated at cost less accumulated depreciation, the carrying values of its  
    hotel properties and hence the net asset value of the Regal group may     
    decrease significantly for accounting purposes. Consequently, the Group's 
    share of results of the associate and its interest in the associate may be
    affected accordingly.