08:58     FORTUNA INT'L<00530> - Results Announcement (1)                     

    Fortuna International Holdings Limited announced on 25/04/2005:           
    (stock code: 00530 )                                                      
    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                        1  : 144,094            195,456           
    Profit/(Loss) from Operations   1  : (52,114)           (6,501)           
    Finance cost                       : (4,068)            (12,533)          
    Share of Profit/(Loss) of                                                 
      Associates                       : 8,820              N/A               
    Share of Profit/(Loss) of                                                 
      Jointly Controlled Entities      : N/A                N/A               
    Profit/(Loss) after Tax & MI    2  : (50,682)           (36,693)          
    % Change over Last Period          : N/A       %                          
    EPS/(LPS)-Basic (in dollars)       : (0.0048)           (0.009)           
             -Diluted (in dollars)  3  : N/A                N/A               
    Extraordinary (ETD) Gain/(Loss)    : N/A                N/A               
    Profit/(Loss) after ETD Items      : (50,682)           (36,693)          
    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 (-)                                                         
      General Meeting                  : N/A                                  
    Other Distribution for             : N/A                                  
      Current Period                                                          
                                                                              
    B/C Dates for Other                                                       
      Distribution                     : N/A                                  
                                                                              
    Remarks:                                                                  
                                                                              
    1.      Analysis of turnover and loss from operating activities           
                                                                              
                                                                              
                                            2004            2003              
                                            HK$'000         HK$'000           
    Turnover                                                                  
    Continuing operations                   141,619          -                
    Discontinuing operations                2,475           195,456           
                                            --------------------------        
                                            144,094         195,456           
                                            =========       ========          
    Loss from operations                                                      
    Continuing operations                   (51,932)        (42,315)          
    Discontinuing operations                (182)           35,814            
                                            --------------------------        
                                            (52,114)        (6,501)           
                                            ========        =========         
                                                                              
    2.      Loss after taxation and minority interest is arrived at after     
    charging /(crediting) the following:                                      
                                                                              
                                            2004            2003              
                                            HK$'000         HK$'000           
    Reversal of impairment provision on property,                             
    plant and equipment                     (4,669)          -                
    Gain on disposal of property, plant and                                   
    equipment                               (3,773)         (233)             
    Gain on disposal of subsidiaries        (3,278)          -                
    Bank interest income                    (133)           (162)             
    Other interest income                   (2,428)         (1,376)           
    Dividend income                         (32)             -                
    Rental income from leasing of property, plant                             
    and equipment                           (958)           (42)              
    Amortisation of goodwill                22,329           -                
    Amortisation of intangible assets       -               1,360             
    Cost of inventories sold                136,061         125,410           
    Depreciation                            2,608           15,458            
    Impairment of a deposit for investment  -               10,416            
    Provision for bad and doubtful debts    13,919          4,210             
    Write-off of long term receivables      -               12,431            
                                            =========       =========         
                                                                              
    3.      Loss per share                                                    
    The calculation of basic loss per share is based on the net loss          
    from ordinary activities attributable to shareholders of HK$50,682,000 (  
    2003 : HK$36,693,000) and the weighted average number of 10,565,957,570   
    ordinary shares (2003 : 4,080,935,888) in issue during the year, as       
    adjusted to reflect the rights issue completed during the year.