08:58     CNT GROUP<00701> - Results Announcement (2)                         

                                                                              
    2.      Loss from operations                                              
                                                                              
                                                    2004            2003      
                                                    HK$'000         HK$'000   
                                                                              
    Continuing operations                           (147,053)       (59,266)  
    Discontinuing operations                        (34,415)        (98,942)  
                                                    ----------      --------- 
                                                                              
                                                    (181,468)       (158,208) 
                                                    ==========      ========= 
                                                                              
                                                                              
    3.      Loss from operating activities                                    
                                                                              
    Loss from operating activities is arrived at after charging:              
                                                                              
                                                                              
                                                                              
                                                                              
                            Continuing      Discontinuing                     
                            operations      operations          Total         
                                                                              
                            2004    2003    2004    2003    2004    2003      
                            HK$'000 HK$'000 HK$'000 HK$'000 HK$'000 HK$'000   
    Amortisation of                                                           
     intangible assets      1,327   1,230   -       165     1,327   1,395     
    Amortisation of                                                           
     goodwill               7,239   1,408   -       -       7,239   1,408     
    Impairment of goodwill  1,814    -      -       -       1,814   -         
    Impairment of                                                             
     investment properties  -       10,571  -       -       -       10,571    
    Deficit/(Surplus) on                                                      
     revaluation of                                                           
     investment properties  3,732   (1,944) -       -       3,732   (1,944)   
    Impairment of fixed                                                       
     assets                 8,165   -       14,654  5,733   22,819  5,733     
    Impairment of goodwill                                                    
     remaining eliminated                                                     
     against capital                                                          
     reserve                29,454  24,133  -       31,740  29,454  55,873    
    Provision for amounts                                                     
     due from associates    5,200   3,963   -       -       5,200   3,963     
    Impairment of                                                             
     intangible assets      -       8,075   -       2,962   -       11,037    
    Impairment of long                                                        
     term investments       847     -       -       -       847     -         
    Impairment of a                                                           
     property under                                                           
     development            63,591  -       -       -       63,591  -         
    Provision for deposit                                                     
     for purchase of a                                                        
     property               18,701  -       -       -       18,701  -         
    Provision for amount                                                      
     due from a jointly-                                                      
     controlled entity      21      1,209   -       -       21      1,209     
    Provision for bad and                                                     
     doubtful debts         -       1,254   -       10,486  -       11,740    
    Provisions for                                                            
     prepayment, deposits                                                     
     and other receivables  -       9,259   -       10,582  -       19,841    
    Provisions for                                                            
     inventories            744     269     2,905   15,262  3,649   15,531    
                            ======  ======= ======  ======= ======  ========  
                                                                              
    4.      Loss per share                                                    
                                                                              
    The calculation of basic loss per share is based on the net loss          
    attributable to shareholders for the year of HK$195,833,000 (2003:  HK$   
    173,329,000) and the weighted average of 1,524,657,000 (2003: 1,517,406,  
    000) ordinary shares in issue during the year.                            
                                                                              
    Diluted loss per share amount for the year ended 31 December 2004 has not 
    been disclosed, as the share options outstanding during the year had an   
    anti-dilutive effect on the basic loss per share for the year.            
                                                                              
    No diluted loss per share amount was presented for the year ended 31      
    December 2003, as the potential ordinary shares outstanding during that   
    year had no dilutive effect on the basic loss per share for that year.    
                                                                              
    For more details, please refer to the press announcement today.