09:48     CHINA ADVANCE<08117> - Quarterly Results Announcement (2)           

                                                                              
    4. Loss per share                                                         
    The calculation of basic loss per share for the three months ended        
    31 March 2005 is based on the loss attributable to shareholders of        
    HK$941,126 (three months ended 31 March 2004: HK$2,664,643) and the       
    number of 591,360,000 ordinary shares in issue during the three           
    months ended 31 March 2005 (three months ended 31 March 2004:             
    440,000,000 ordinary shares).