09:02     CENTURY C INT'L<00355> - Results Announcement (2)                   

                                                                              
    3.      DISCONTINUED OPERATION                                            
                                                                              
    The turnover, expenses and results attributable to discontinued operation 
    in respect of the Regal group's previous hotel operation in Canada for the
    period from 1st January, 2003 to 25th June, 2003 (date of completion of   
    disposal of the Canadian hotel operation) were as follows:                
                                                                              
                                                    2003                      
                                                    HK$'M                     
                                                                              
    TURNOVER                                        32.2                      
    Cost of sales                                   (37.3)                    
                                                    ----------                
    Gross loss                                      (5.1)                     
    Administrative expenses                         (1.9)                     
    Other operating expenses                        (1.1)                     
                                                    -----------               
    LOSS FROM OPERATING ACTIVITIES                  (8.1)                     
    Finance costs                                   (4.2)                     
    NET LOSS FROM ORDINARY ACTIVITIES               -----------               
      ATTRIBUTABLE TO SHAREHOLDERS                  (12.3)                    
                                                    ===========               
                                                                              
    4.      Profit/(Loss) from Operations is stated after the following:      
    (a)     Other revenue includes the following major items:                 
                                                                              
                                            2004            2003              
                                            HK$'M           HK$'M             
    Interest income                         2.9             8.3               
    Dividend income                         2.5             0.5               
    Gain on debt restructuring              242.6           -                 
    Gain on deemed disposal of the Group's                                    
    interest in a listed subsidiary company 62.7            358.6             
                                            =========       =========         
                                                                              
    (b)     Other operating expenses include the following major items:       
                                                                              
                                            2004            2003              
                                            HK$'M           HK$'M             
                                                                              
    Depreciation                            20.4            41.2              
    Amortisation of goodwill                13.2            14.3              
    Loss on deemed disposal of the Group's                                    
    interest in a listed subsidiary company -               39.4              
    Loss on disposal of long term                                             
    listed investments (after a transfer from                                 
    the revaluation reserve of a deficit of                                   
    HK$0.2 million)                         -               1.2               
    Loss on disposal of a subsidiary company-               1.0               
    Loss on deconsolidation of a listed                                       
      subsidiary company                    29.4            -                 
    Termination fee in respect of cancellation of                             
      the disposal of a hotel property      39.0            -                 
                                            =========       =========         
                                                                              
    (c)     Write-back of provisions for write-downs and impairments, net,    
    represent the following items:                                            
                                                                              
                                            2004            2003              
                                            HK$'M           HK$'M             
    Write-back in values of properties      47.3            44.0              
    Write-back of deficit on revaluation                                      
      of hotel properties                   810.9           266.1             
    Write-back of provision against                                           
      a loan receivable                     0.1             0.2               
    Impairment of long term investments     (49.5)          -                 
    Impairment of goodwill                  (189.6)         -                 
                                            ----------      ---------         
                                            619.2           310.3             
                                            =========       =========         
                                                                              
    (d)                                                                       
                                            2004            2003              
                                            HK$'M           HK$'M             
    Loss on disposal of overseas                                              
      subsidiary companies attributable to                                    
      discontinued operation                -               (9.7)             
                                                                              
    (e)                                                                       
                                            2004            2003              
                                            HK$'M           HK$'M             
    Write-back of impairment of a hotel property                              
                                            165.8           11.4              
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