08:45     GOLDEN RESORTS<01031> - Results Announcement (2)                    

                                                                              
    b)      Geographical segment information about these businesses is        
    presented below:                                                          
                                                                              
    The following in the analysis of the Group's sales by geographical market:
                                                                              
    Manufacturing and selling of watches                                      
    and watch components            Investments in                            
                                    listed securities       Total             
    2004    2003                    2004    2003            2004    2003      
    HK$'000 HK$'000                 HK$'000 HK$'000         HK$'000 HK$'000   
                                                                              
    The People's Republic of China ("PRC") including Hong Kong                
    28,832  15,899                  15,479  4,752           44,311  20,651    
    Middle East                                                               
    15,294  16,292                  -       -               15,294  16,292    
    South America                                                             
    66,897  40,126                  -       -             66,897  40,126      
    North America                                                             
    13,362  6,228                   -       -              13,362  6,228      
    Europe                                                                    
    763     5,534                   -       -              763     5,534      
    Other locations                                                           
    1,028   1,191                   -       -              1,028   1,191      
    --------------------------------------------------------------------      
    126,176 85,270                  15,479  4,752          141,655 90,022     
    =====================================================================     
                                                                              
    2       Loss per share                                                    
                                                                              
    (a)     The calculation of basic loss per share is based on the net loss  
    attributable to shareholders for the year ended 31 December 2004 of HK$11 
    ,092,000 (2003:  HK$144,000), and the weighted average number of 7,857,   
    967,966 ordinary shares (2003: 1,452,643,636 as restated by share         
    consolidation of three shares into one share) in issue during the year.   
                                                                              
    (b)        Diluted loss per share for the year has not been presented as  
    the effect of any dilution is anti-dilutive.                              
                                                                              
    For more details, please refer to the press announcement today.