08:54     SHUN HO RES<00253> - Results Announcement                           

    Shun Ho Resources Holdings Limited announced on 20/04/2005:               
    (stock code: 00253 )                                                      
    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                           : 187,855            71,863            
    Profit/(Loss) from Operations      : 239,200            (1,751)           
    Finance cost                       : (2,756)            (3,071)           
    Share of Profit/(Loss) of                                                 
      Associates                       : 52,986             4,017             
    Share of Profit/(Loss) of                                                 
      Jointly Controlled Entities      : N/A                N/A               
    Profit/(Loss) after Tax & MI       : 126,415            (2,798)           
    % Change over Last Period          : N/A       %                          
    EPS/(LPS)-Basic (in dollars)       : 0.523              (0.012)           
             -Diluted (in dollars)     : N/A                N/A               
    Extraordinary (ETD) Gain/(Loss)    : N/A                N/A               
    Profit/(Loss) after ETD Items      : 126,415            (2,798)           
    Final Dividend                     : NIL                NIL               
      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                  : 23/05/2005         to 27/05/2005 bdi.
    Other Distribution for             : N/A                                  
      Current Period                                                          
                                                                              
    B/C Dates for Other                                                       
      Distribution                     : N/A                                  
                                                                              
    Remarks:                                                                  
                                                                              
    1.      GAIN ON DISPOSAL OF INVESTMENT PROPERTIES                         
                                                                              
    During the period, the Group disposed of certain of its investment        
    properties with aggregate carrying value of HK$204,800,000 which gave rise
    to a gain on disposal of approximately HK$182,174,000.                    
                                                                              
                                                                              
    2.      EARNINGS(LOSS) PER SHARE                                          
                                                                              
            The calculation of the basic earnings/loss per share is based on  
    the net profit for the year of HK$126,415,000 (2003: net loss of HK$2,798 
    ,000) and on 241,766,050 (2003: 241,766,050) shares in issue during the   
    year.  The number of shares adopted in the calculation of the earnings/   
    loss per share has been arrived at after eliminating the shares in the    
    Company held by a subsidiary.                                             
                                                                              
            Diluted earnings per share for the year are not shown as there    
    were no potential dilutive ordinary shares subsisted during the year.     
    Diluted earnings per share for the prior year are not shown as the        
    exercise prices of the outstanding warrants and share options issued/     
    granted by the Company's listed subsidiaries, Shun Ho Technology and      
    Magnificent, are higher than the average market price for shares in that  
    year.                                                                     
                                                                              
    For more details, please refer to the press announcement today.