08:55     WO KEE HONG<00720> - Results Announcement (2)                       

    4.      Income tax                                                        
                                                                              
    The (credit)/ expense comprises:                                          
                                                    2004            2003      
                                                    HK$'000         HK$'000   
    Current tax:                                                              
      Hong Kong Profits Tax                         243             330       
      Overseas income tax                           170             226       
                                                    ------          ------    
                                                    413             556       
    Deferred tax:                                                             
      Current year                                  (29,915)        (815)     
      Attributable to a change in tax rate          -               2,958     
                                                    ---------       --------- 
    Income tax attributable to the Company and                                
      its subsidiaries                              (29,502)        2,699     
    Share of income tax attributable to associates  -               -         
                                                    ----------      --------- 
                                                    (29,502)        2,699     
                                                    ==========      ========= 
                                                                              
    Hong Kong Profits Tax is calculated at 17.5% of the estimated assessable  
    profit for the year.                                                      
                                                                              
    Overseas taxation is calculated at the rates prevailing in the respective 
    jurisdictions.                                                            
                                                                              
    For more details, please refer to the press announcement today.