08:48     K & P INT'L<00675> - Results Announcement (2)                       

    4.      EARNINGS PER SHARE                                                
                                                                              
    The calculation of basic earnings per share is based on the net profit    
    attributable to shareholders for the year of HK$17,657,156 (2003:         
    HK$3,539,922), and on the weighted average of 259,004,800                 
    (2003: 250,004,800) ordinary shares in issue during the year.             
                                                                              
    The calculation of diluted earnings per share is based on the net profit  
    attributable to shareholders for the year of HK$17,657,156. The weighted  
    average number of ordinary shares used in the calculation is the          
    259,004,800 ordinary shares in issue during the year, as used in the basic
    earnings per share calculation; and the weighted average of 1,975,842     
    ordinary shares assumed to have been issued at no consideration on the    
    deemed exercise of all share options outstanding during the year.         
                                                                              
    In the calculations of the diluted earnings per share, the effect of the  
    convertible loan notes outstanding during the two years ended 31 December 
    2004 and 31 December 2003 was not taken into account as they had an anti- 
    dilutive effect on the basic earnings per share for these years.          
                                                                              
    For more details, please refer to the press announcement today.