08:50     VITAL BIOTECH<01164> - Results Announcement                         

    Vital BioTech Holdings Limited announced on 25/04/2005:                   
    (stock code: 01164 )                                                      
    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                           : 343,420            280,784           
    Profit/(Loss) from Operations      : 42,129             75,742            
    Finance cost                       : (4,124)            (4,680)           
    Share of Profit/(Loss) of                                                 
      Associates                       : (112)              N/A               
    Share of Profit/(Loss) of                                                 
      Jointly Controlled Entities      : N/A                N/A               
    Profit/(Loss) after Tax & MI       : 32,776             61,142            
    % Change over Last Period          : -46.39    %                          
    EPS/(LPS)-Basic (in dollars)    2  : 0.0221             0.04830           
             -Diluted (in dollars)     : 0.0220             0.04800           
    Extraordinary (ETD) Gain/(Loss)    : N/A                N/A               
    Profit/(Loss) after ETD Items      : 32,776             61,142            
    Final Dividend                  3  : N/A                $0.015            
      per Share                                                               
    (Specify if with other             : N/A                with scrip option 
      options)                                                                
    B/C Dates for                                                             
      Final Dividend                   : N/A                                  
    Payable Date                       : N/A                                  
    B/C Dates for Annual                                                      
      General Meeting                  : 26/05/2005         to 31/05/2005 bdi.
    Other Distribution for             : N/A                                  
      Current Period                                                          
    B/C Dates for Other                                                       
      Distribution                     : N/A                                  
    Remarks:                                                                  
    1. Basis of preparation                                                   
    The accounts have been prepared in accordance with accounting principles  
    generally accepted in Hong Kong and comply with accounting standards      
    issued by the Hong Kong Institute of Certified Public Accountants         
    ("HKICPA"). They have been prepared under the historical cost convention  
    except that other investments are stated at fair value.                   
                                                                              
    The HKICPA has issued a number of new and revised Hong Kong               
    Financial Reporting Standards and Hong Kong Accounting Standards          
    (new "HKFRSs") which are effective for accounting periods beginning on    
    or after 1 January 2005.                                                  
                                                                              
    The Group has not early adopted these new HKFRSs in the accounts for      
    the year ended 31 December 2004.  The Group has already commenced         
    an assessment of the impact of these new HKFRSs but is not yet in a       
    position to state whether these new HKFRSs would have a significant impact
    on its results of operations and financial position.                      
                                                                              
    2. Earnings per share                                                     
    The calculations of basic and diluted earnings per share are based on the 
    Group's profit attributable to shareholders of HK$32,776,000              
    (2003: HK$61,142,000).                                                    
                                                                              
    The basic earnings per share is based on the weighted average number of   
    1,480,993,084 (2003: 1,265,733,938) ordinary shares in issue during the   
    year.                                                                     
                                                                              
    The diluted earnings per share for the year ended 31 December 2004 is     
    based on 1,486,685,939 (2003: 1,273,883,302) ordinary shares which are the
    weighted average number of 1,480,993,084 (2003: 1,265,733,938) ordinary   
    shares in issue during the year plus the weighted average number of       
    5,692,855 (2003: 8,149,364) ordinary shares taking into account the       
    effects of all dilutive potential ordinary shares.                        
                                                                              
    3. Dividends                                                              
                                               2004            2003           
                                               HK$'000      HK$'000           
    Interim dividend, paid, of HK0.5 cent                                     
    (2003: HK1 cent) per ordinary share,                                      
    with options of 1 scrip share for                                         
    every 75 shares (2003: 45 shares)          7,496         12,775           
    Final dividend, proposed, of HK Nil cent                                  
    (2003: HK1.5 cent per ordinary share,                                     
    with options of 1 scrip share                                             
    for every 55 shares)                       Nil          22,382            
                                              -------       ---------         
                                               7,496         35,157           
                                              -------       ---------         
                                              -------       ---------         
    The dividends have been partially                                         
    settled by scrip shares as follows:                                       
     Interim                                      526         10,896          
     Final                                        N/A          1,354          
                                                                              
    For more details, please refer to the press announcement today.