08:33     LAI SUN INT'L<00191> - Results Announcement                         

    Lai Sun Garment (International) Limited announced on 15/04/2005:          
    (stock code: 00191 )                                                      
    Year end date: 31/07/2005                                                 
    Currency: HKD                                                             
    Auditors' Report: N/A                                                     
    Interim report reviewed by: Audit Committee                               
                                                                              
                                                            (Unaudited )      
                                         (Unaudited )       Last              
                                         Current            Corresponding     
                                         Period             Period            
                                         from 01/08/2004    from 01/08/2003   
                                         to 31/01/2005      to 31/01/2004     
                                   Note  ($         )       ($         )      
    Turnover                           : 286,357,000        533,662,000       
    Profit/(Loss) from Operations      : 27,839,000         38,865,000        
    Finance cost                       : (6,901,000)        (6,385,000)       
    Share of Profit/(Loss) of                                                 
      Associates                       : 37,353,000         105,461,000       
    Share of Profit/(Loss) of                                                 
      Jointly Controlled Entities      : N/A                N/A               
    Profit/(Loss) after Tax & MI    1  : 2,470,745,000      120,774,000       
    % Change over Last Period          : +1,946    %                          
    EPS/(LPS)-Basic (in dollars)    2  : 1.7185             0.0840            
             -Diluted (in dollars)     : N/A                0.0839            
    Extraordinary (ETD) Gain/(Loss)    : N/A                N/A               
    Profit/(Loss) after ETD Items      : 2,470,745,000      120,774,000       
    Interim Dividend                   : NIL                NIL               
      per Share                                                               
    (Specify if with other             : N/A                N/A               
      options)                                                                
    B/C Dates for                                                             
      Interim 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.  GAIN ON DEEMED DISPOSAL OF INTEREST IN AN ASSOCIATE                   
                                                                              
    On 7th December, 2004, Lai Sun Development Company Limited ("LSD"), a then
    associate of the Group, allotted and issued approximately 9,000 million   
    new shares of LSD at a price of HK$0.50 per share to the bondholders of   
    LSD and eSun Holdings Limited as part of the settlement package for the   
    settlement of indebtedness owed by LSD to its bondholders and eSun        
    Holdings Limited.  As a result, the Group's interest in LSD was diluted   
    from approximately 42.25% to approximately 12.42% on the same date, which 
    constituted a deemed disposal by the Group of its interest in LSD.  The   
    Group's share of LSD's unaudited consolidated net assets was increased by 
    and to approximately HK$411 million.  After taking into account of the    
    various reserves released to the unaudited condensed consolidated profit  
    and loss account of the Group of approximately HK$2,010 million, the      
    Group's gain on the deemed disposal of its equity interest in LSD amounted
    to approximately HK$2,421 million.  In addition, an amount of unaudited   
    consolidated capital reserve of the Group of approximately HK$358 million,
    which was previously transferred from the Group's consolidated retained   
    earnings to its consolidated capital reserve upon the redemption by LSD of
    its preference shares in the prior years, was transferred back to the     
    Group's unaudited consolidated retained earnings as at 31st January, 2005.
     As at 31st January, 2005, the remaining 12.42% equity interest in LSD    
    held by the Group was treated as a long term investment in the Group's    
    unaudited condensed consolidated financial statements for the six months  
    ended 31st January, 2005.                                                 
                                                                              
    2.  EARNINGS PER SHARE                                                    
                                                                              
    The calculation of basic earnings per share is based on the net profit    
    attributable to shareholders for the period of HK$2,470,745,000 (2004:    
    HK$120,774,000) and the weighted average of 1,437,709,710 (2004:          
    1,437,709,710) ordinary shares in issue during the period.                
                                                                              
    The diluted earnings per share amount for the six months ended            
    31st January, 2005 has not been disclosed as no diluting event existed    
    during the period.                                                        
                                                                              
    For the six months ended 31st January, 2004, the calculation of diluted   
    earnings per share was based on the adjusted net profit attributable to   
    shareholders for the six months ended 31st January, 2004 of HK$120,562,000
    and the weighted average of 1,437,709,710 ordinary shares in issue during 
    the six months ended 31st January, 2004.                                  
                                                                              
    The adjusted net profit attributable to shareholders for the six months   
    ended 31st January, 2004 was calculated based on the net profit           
    attributable to shareholders for the six months ended 31st January, 2004  
    of HK$120,774,000 less the dilution in the results of Lai Fung,           
    attributable to the Group by HK$212,000 arising from the deemed exercise  
    of all Lai Fung's share options being outstanding during the six months   
    ended 31st January, 2004.                                                 
                                                                              
    For more details, please refer to the press announcement today.