08:49     CHINA FAIR LAND<00169> - Results Announcement (1)                   

    China Fair Land Holdings Limited announced on 26/04/2005:                 
    (stock code: 00169 )                                                      
    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                           : 260,429            190,721           
    Profit/(Loss) from Operations      : 61,058             43,386            
    Finance cost                       : (1,193)            (5,571)           
    Share of Profit/(Loss) of                                                 
      Associates                       : N/A                N/A               
    Share of Profit/(Loss) of                                                 
      Jointly Controlled Entities      : N/A                N/A               
    Profit/(Loss) after Tax & MI       : 15,381             32,527            
    % Change over Last Period          : -52.7     %                          
    EPS/(LPS)-Basic (in dollars)       : 0.0526             0.1112            
             -Diluted (in dollars)     : N/A                N/A               
    Extraordinary (ETD) Gain/(Loss)    : N/A                N/A               
    Profit/(Loss) after ETD Items      : 15,381             32,527            
    Final Dividend                     : 1 cent             3 cents           
      per Share                                                               
    (Specify if with other             : N/A                N/A               
      options)                                                                
                                                                              
    B/C Dates for                                                             
      Final Dividend                   : 24/05/2005         to 27/05/2005 bdi.
    Payable Date                       : 05/07/2005                           
    B/C Dates for Annual                                                      
      General Meeting                  : 24/05/2005         to 27/05/2005 bdi.
    Other Distribution for             : N/A                                  
      Current Period                                                          
                                                                              
    B/C Dates for Other                                                       
      Distribution                     : N/A                                  
                                                                              
    Remarks:                                                                  
                                                                              
                                                                              
    1.      GENERAL                                                           
                                                                              
    The Company was incorporated in Bermuda as an exempted company with       
    limited liability under Companies Act 1981 of Bermuda (as amended) and its
    shares are listed on The Stock Exchange of Hong Kong Limited (the "Stock  
    Exchange").  Its ultimate holding company is Future Opportunity Limited,  
    incorporated in the British Virgin Islands.                               
                                                                              
    The Company acts as an investment holding company while its subsidiaries  
    are principally engaged in property development in the People's Republic  
    of China ("PRC").                                                         
                                                                              
    2.      SEGMENT INFORMATION                                               
                                                                              
    Business Segments                                                         
                                            2004            2003              
                                            HK$'000         HK$'000           
    Turnover                                                                  
    Sales of developed properties           260,429         154,921           
    Sales of land                           -               35,800            
                                            -------------------------         
                                            260,429         190,721           
                                            =========================         
    Result                                                                    
    Sales of developed properties           73,898          40,526            
    Sales of land                           -               22,646            
                                            -------------------------         
                                            73,898          63,172            
                                                                              
    Other operating income                  15,020          3,498             
    Unallocated corporate expenses          (27,860 )       (23,284 )         
                                            -------------------------         
    Profit from operations                  61,058          43,386            
    Finance costs                           (1,193  )       (5,571  )         
                                            -------------------------         
    Profit before taxation                  59,865          37,815            
    Taxation                                (21,850 )       (3,778  )         
                                            -------------------------         
    Profit before minority interests        38,015          34,037            
    Minority interests                      (22,634 )       (1,510  )         
                                            -------------------------         
    Profit attributable to shareholders     15,381          32,527            
                                            =========================         
                                                                              
    Geographical Segments