09:05     RADFORD CAPITAL<00901> - Results Announcement                       

    Radford Capital Investment Limited announced on 13/04/2005:               
    (stock code: 00901 )                                                      
    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  ($         )       ($         )      
    Turnover                           : 154,085,366        54,907,966        
    Profit/(Loss) from Operations      : (28,229,918)       (1,256,144)       
    Finance cost                       : (205,757)          (130,468)         
    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       : (28,435,675)       (1,386,612)       
    % Change over Last Period          : N/A       %                          
    EPS/(LPS)-Basic (in dollars)       : (0.0206)           (0.0014)          
             -Diluted (in dollars)     : N/A                N/A               
    Extraordinary (ETD) Gain/(Loss)    : N/A                N/A               
    Profit/(Loss) after ETD Items      : (28,435,675)       (1,386,612)       
    Final Dividend                     : 0                  0                 
      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:                                                                  
                                                                              
    Explanatory Notes of Radford Capital Investment Limited (the "Company")   
                                                                              
    The basis of presentation of the audited results is based on the audited  
    condensed consolidated financial statements of the Company and its        
    subsidiaries for the year ended 31st December 2004 (the "Year").          
                                                                              
    - Turnover from continuing operations is as follows:                      
                                    2004            2003                      
                                    HK$             HK$                       
    Proceeds from sale of investments in securities                           
                                  153,036,629     53,820,898                  
    Dividend income from investments in securities                            
                                   1,048,737       1,087,068                  
                                  ---------------------------                 
                                  154,085,366     54,907,966                  
                                  ==========================                  
                                                                              
    - Loss from continuing operations is as follows:                          
                                       2004            2003                   
                                        HK$             HK$                   
    Loss from operations has been arrived at after charging (crediting):      
                                                                              
     Auditors' remuneration           181,200         125,000                 
    Depreciation of property, plant and equipment                             
                                        114,527         98,891                
    Loss on disposal of property, plant and equipment                         
                                      107,782            -                    
    Net unrealised holding loss on investments in                             
       unlisted securities             37,961,905         -                   
    Impairment loss on goodwill        5,217,058          -                   
     Operating lease rentals in respect of rented premise                     
                                        270,288         326,598               
     Staff costs                                                              
     Wages and salaries                1,760,193       1,753,100              
     Pension costs                        47,365          57,490              
    Net unrealised holding gain on investments in listed                      
     securities                       (25,207,137)     (13,334,365)           
                                                                              
    - Loss per share - Basic                                                  
                                                                              
    The calculation of basic loss per share for the Year is based on the loss 
    for the Year of HK$28,435,675 (2003: HK$1,386,612) and on the weighted    
    average number of 1,378,860,710 (2003: 1,018,862,137) shares in issue     
    during the Year.                                                          
                                                                              
    For more details, please refer to the press announcement today.