09:03     NAM FONG INT'L<01176> - Results Announcement                        

    Nam Fong International Holdings Limited announced on 26/04/2005:          
    (stock code: 01176 )                                                      
    Year end date: 31/12/2004                                                 
    Currency: HKD                                                             
    Auditors' Report: Qualified                                               
                                                                              
                                                            (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                           : 59,635             12,059            
    Profit/(Loss) from Operations      : (44,079)           (5,462)           
    Finance cost                       : (10,813)           (9,345)           
    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       : (54,892)           (5,702)           
    % Change over Last Period          : N/A       %                          
    EPS/(LPS)-Basic (in dollars)       : (0.0404)           (0.0042)          
             -Diluted (in dollars)     : N/A                N/A               
    Extraordinary (ETD) Gain/(Loss)    : N/A                N/A               
    Profit/(Loss) after ETD Items      : (54,892)           (5,702)           
    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 Annual                                                      
      General Meeting                  : 10/06/2005         to 17/06/2005 bdi.
    Other Distribution for             : N/A                                  
      Current Period                                                          
                                                                              
    B/C Dates for Other                                                       
      Distribution                     : N/A                                  
                                                                              
    Remarks:                                                                  
                                                                              
    (1)     Auditors' opinion                                                 
                                                                              
    Because of the significance of the possible effect of the limitation in   
    evidence available to us and because of the fundamental uncertainty       
    relating to going concern are unable to form an opinion as to whether the 
    financial statements give a true and fair view of the state of affairs of 
    the Company and of the Group as at 31 December 2004 and of the loss and   
    cash flows of the Group for the year then ended.  In our opinion, the     
    financial statements have been properly prepared in accordance with the   
    disclosure requirements of the Hong Kong Companies Ordinance.             
                                                                              
    (2)     Loss per share                                                    
                                                                              
    The calculation of loss per share is based on the consolidated loss       
    attributable to shareholders of HK$54,892,000 (2003: HK$5,702,000) and the
    weighted average number of 1,360,000,000 shares (2003: 1,360,000,000      
    shares) in issue during the year.                                         
                                                                              
    No diluted loss per share is presented as there were no potential dilutive
    ordinary shares in issue during the year (2003: Nil).                     
                                                                              
    For more details, please refer to the press announcement today.