08:55     SINO GOLF HOLD<00361> - Results Announcement                        

    Sino Golf Holdings Limited announced on 18/04/2005:                       
    (stock code: 00361 )                                                      
    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                           : 393,945            400,708           
    Profit/(Loss) from Operations      : 39,380             59,231            
    Finance cost                       : (9,790)            (10,142)          
    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       : 28,092             43,324            
    % Change over Last Period          : -35.2     %                          
    EPS/(LPS)-Basic (in dollars)       : 0.093              0.1434            
             -Diluted (in dollars)     : N/A                N/A               
    Extraordinary (ETD) Gain/(Loss)    : N/A                N/A               
    Profit/(Loss) after ETD Items      : 28,092             43,324            
    Final Dividend                     : NIL                9.5 cents         
      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 Annual                                                      
      General Meeting                  : 05/05/2005         to 06/05/2005 bdi.
    Other Distribution for             : N/A                                  
      Current Period                                                          
                                                                              
    B/C Dates for Other                                                       
      Distribution                     : N/A                                  
                                                                              
    Remarks:                                                                  
                                                                              
                                                                              
    1.      Basis of preparation                                              
                                                                              
            These financial statements have been prepared in accordance with  
    HKFRSs (which also include Statements of Standard Accounting Practice and 
    Interpretations) issued by the HKICPA, accounting principles generally    
    accepted in Hong Kong and the disclosure requirements of the Hong Kong    
    Companies Ordinance.  They have been prepared under the historical cost   
    convention, except for the periodic remeasurement of certain fixed assets.
                                                                              
                                                                              
    2.   EARNINGS PER SHARE                                                   
                                                                              
           The calculation of basic earnings per share is based on the net    
    profit attributable to shareholders for the year of HK$28,092,000 (2003:  
    HK$43,324,000) and the weighted average of 302,200,000 (2003: 302,200,000)
    ordinary shares in issue during the year.                                 
                                                                              
            The diluted earnings per share for the years ended 31 December    
    2004 and 31 December 2003 is not shown as there was no dilutive effect on 
    the basic earnings per share.  The outstanding share options of the       
    Company would not result in the issue of ordinary shares for less than the
    fair values as their exercise price was above the average market price of 
    the Company's shares during the year.                                     
                                                                              
    For more details, please refer to the press announcement today.