09:45     BEAUFORTE INV<00021> - Announcement (3)                             

    Note: Others are Independent Third Parties                                
                                                                              
    As at the date of this announcement, except for the registered and        
    paid up capital, the shareholders have not committed for any other        
    financial obligation.                                                     
                                                                              
    Financial information                                                     
    The unaudited net profit and total assets as set out in the               
    management accounts of Daoqin Hospital Management for the two years       
    ended 31 December 2004 (as prepared in accordance with generally          
    accepted accounting principles in the PRC) are as follows:                
                                                                              
                                                        For the               
                                                        year ended            
                                                        31 December           
                              2003                      2004                  
                 RMB million  HK$ million  RMB million  HK$ million           
                                                                              
    Loss before  (0.7)        (0.7)        (0.1)        (0.1)                 
    taxation                                                                  
    and                                                                       
    extraordinar                                                              
    y                                                                         
    items                                                                     
    Net loss     (0.7)        (0.7)        (0.1)        (0.1)                 
    after                                                                     
    taxation                                                                  
    and                                                                       
    extraordinar                                                              
    y items                                                                   
    Total assets 14.3         13.5         39.2         37.0                  
    Net assets   14.3         13.5         39.2         37.0                  
                                                                              
                                                                              
                                                                              
    After the Acquisition, Daoqin Hospital Management will become a           
    subsidiary of the Group and its results and assets and liabilities        
    will be consolidated into the accounts of the Group.                      
                                                                              
    3.                                                                        
    REASONS FOR AND BENEFIT OF ENTERING INTO THE SHARE TRANSFER               
    AGREEMENT                                                                 
                                                                              
    The Directors have been actively seeking investment opportunities so      
    as to increase the return from the Group's investment portfolio and       
    diversify the Group's business.                                           
                                                                              
    Based on the observation of the Directors, the provision of hospital      
    management services is one of the growing businesses in China. As a       
    service contract has been concluded with the hospital located in          
    Shangdong province, the management fee to be received from the            
    hospital will provide a stable income stream to the Group.                
                                                                              
    The Directors consider that the terms of the Share Transfer               
    Agreement are fair and reasonable and in the interest of the              
    shareholders of the Company as a whole.                                   
                                                                              
    4.                                                                        
    PRINCIPAL ACTIVITIES OF THE GROUP                                         
    The Group is mainly engaged in treasury and investment and                
    investment in property to generate rental income.                         
                                                                              
    5.                                                                        
    GENERAL                                                                   
    Since the applicable tests are more than 5% but less than 25%, the        
    Acquisition constitutes a discloseable transaction for the Company        
    under Chapter 14 of the Listing Rules. A circular containing further      
    information on the Acquisition and the Group will be despatched to        
    the shareholders of the Company as soon as practicable.                   
                                                                              
    DEFINITIONS                                                               
    In this announcement, the following expressions shall, unless the         
    context requires otherwise, have the following meanings:                  
                                                                              
    `Acquisition'                  the acquisition of 80%                     
                                   interest in Daoqin Hospital                
                                   Management pursuant to the                 
                                   Share Transfer Agreement                   
    `Company'                      Beauforte Investors                        
                                   Corporation Limited, a                     
                                   company incorporated in Hong               
                                   Kong with limited liability,               
                                   the shares of which are                    
                                   listed on the Main Board of                
                                   the Stock Exchange                         
    `Directors'                    the directors of the Company               
    `Daoqin Hospital Management'    (Shanghai Daoqin Hospital                 
                                   Investment Management Company              
                                   Limited), a company                        
                                   incorporated in the PRC with               
                                   limited liability                          
    `Ocean Pearl'                  Ocean Pearl Investments                    
                                   Limited, a company                         
                                   incorporated in the British