13:15     JUNEFIELD GROUP<00758> - Results Announcement                       

    Junefield Department Store Group Limited announced on 28/04/2005:         
    (stock code: 00758 )                                                      
    Year end date: 31/12/2004                                                 
    Currency: HKD                                                             
    Auditors' Report: Modified                                                
                                                                              
                                                            (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                           : 44,168             30,490            
    Profit/(Loss) from Operations      : (8,664)            (102,605)         
    Finance cost                       : (11,669)           (23,402)          
    Share of Profit/(Loss) of                                                 
      Associates                       : N/A                N/A               
    Share of Profit/(Loss) of                                                 
      Jointly Controlled Entities      : 35,238             43,817            
    Profit/(Loss) after Tax & MI       : (10,680)           (91,579)          
    % Change over Last Period          : N/A       %                          
    EPS/(LPS)-Basic (in dollars)       : (0.0257)           (0.2576)          
             -Diluted (in dollars)     : N/A                N/A               
    Extraordinary (ETD) Gain/(Loss)    : N/A                N/A               
    Profit/(Loss) after ETD Items      : (10,680)           (91,579)          
    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                  : 22/06/2005         to 23/06/2005 bdi.
    Other Distribution for             : N/A                                  
      Current Period                                                          
                                                                              
    B/C Dates for Other                                                       
      Distribution                     : N/A                                  
                                                                              
    Remarks:                                                                  
                                                                              
    1.      The turnover and loss from operations are wholly derived from the 
    Group's continuing operations.                                            
                                                                              
    2.      The calculation of the basic loss per ordinary share is based on  
    the net loss for the period of HK$10,680,000(2003: HK$91,579,000) and the 
    weighted average of 415,840,184 (2003: 355,530,604) ordinary shares in    
    issue during the year.                                                    
                                                                              
    There were no dilutive potential ordinary shares in issue during the      
    period ended 31 December 2004 and accordingly, the diluted loss per       
    ordinary share was not shown. No diluted loss per ordinary share has been 
    presented for the period ended 31 December 2003 as the effect of the      
    assumed conversion of the Company's outstanding convertible notes would   
    result in a decrease in net loss per ordinary share.                      
                                                                              
    3.      SUMMARY OF AUDITORS' REPORT                                       
                                                                              
    Fundamental uncertainty relating to the going concern basis               
    In forming our opinion, we have considered the adequacy of the disclosures
    made in note 3 to the financial statements concerning the adoption of the 
    going concern basis, being the basis on which the financial statements    
    have been prepared.  As explained in note 3 to the financial statements,  
    the Group is currently undertaking a number of measures to relieve its    
    current profitability and liquidity problems.  The financial statements   
    have been prepared on a going concern basis, the validity of which depends
    upon the successful completion of certain proposed sales and purchase     
    transactions of properties and the arrangement for long term financing,   
    the ongoing support of the Group's ultimate holding company and other     
    creditors, and the attainment of profitable and cash flow positive        
    operations, to meet the Group's future working capital and financial      
    requirements.  The financial statements do not include any adjustment that
    may be necessary should the implementation of such measures be            
    unsuccessful.  We consider that appropriate disclosures have been made in 
    the financial statements and our opinion is not qualified in this respect.
    In our opinion 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 and   
    have been properly prepared in accordance with the disclosure requirements
    of the Hong Kong Companies Ordinance.