08:50     FIRST SHANGHAI<00227> - Results Announcement                        

    First Shanghai Investment Limited announced on 18/04/2005:                
    (stock code: 00227 )                                                      
    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                           : 587,845            281,351           
    Profit/(Loss) from Operations      : 16,770             23,902            
    Finance cost                       : (4,709)            (1,882)           
    Share of Profit/(Loss) of                                                 
      Associates                       : 57,097             42,525            
    Share of Profit/(Loss) of                                                 
      Jointly Controlled Entities      : 25,515             42,965            
    Profit/(Loss) after Tax & MI       : 80,352             93,820            
    % Change over Last Period          : -14.36    %                          
    EPS/(LPS)-Basic (in dollars)    A  : 0.0685             0.0800            
             -Diluted (in dollars)  A  : 0.0672             0.0788            
    Extraordinary (ETD) Gain/(Loss)    : N/A                N/A               
    Profit/(Loss) after ETD Items      : 80,352             93,820            
    Final Dividend                     : $0.01              $0.012            
      per Share                                                               
    (Specify if with other             : N/A                N/A               
      options)                                                                
                                                                              
    B/C Dates for                                                             
      Final Dividend                   : 25/05/2005         to 30/05/2005 bdi.
    Payable Date                       : 28/06/2005                           
    B/C Dates for (-)                                                         
      General Meeting                  : N/A                                  
    Other Distribution for             : N/A                                  
      Current Period                                                          
                                                                              
    B/C Dates for Other                                                       
      Distribution                     : N/A                                  
                                                                              
    Remarks:                                                                  
                                                                              
    A. Calculation of basic and diluted earnings per share                    
                                                                              
    The calculation of basic and diluted earnings per share is based on the   
    Group's profit attributable to shareholders of HK$80,352,030 (2003:       
    HK$93,819,623).  The basic earnings per share is based on the weighted    
    average number of 1,173,691,705 (2003: 1,173,402,915) shares in issue     
    during the year.                                                          
                                                                              
    The diluted earnings per share is based on 1,194,874,270 (2003:           
    1,190,206,060) shares which is the weighted average number of shares in   
    issue during the year plus the weighted average number of 21,182,565      
    (2003: 16,803,145) shares deemed to be issued at no consideration if all  
    outstanding options had been exercised.                                   
                                                                              
    For more details, please refer to the press announcement today.