09:54     ESSEX BIO-TECH<08151> - Quarterly Results Announcement (1)          

    Essex Bio-Technology Limited announced on 12/05/2005:                     
    (stock code: 08151 )                                                      
                                                                              
    Year end date                         :31/12/2005                         
    Currency                              :HKD                                
    Auditors' report                      :N/A                                
    1st Quarterly Report Reviewed by      :Audit Committee & Auditors         
                                                                              
    Important Note :                                                          
                                                                              
    This result announcement form only contains extracted information from    
    and should be read in conjunction with the detailed results announcement  
    of the issuer, which can be viewed on the GEM website at                  
    http://www.hkgem.com                                                      
                                                                              
                                               (Unaudited)       (Unaudited)  
                                                  Current Last Corresponding  
                                                   Period            Period   
                                           from 01/01/2005   from 01/01/2004  
                                             to 31/03/2005     to 31/03/2004  
                                                     $'000             $'000  
                                                                              
    Turnover                              :          7,629             6,037  
    Profit/(Loss) from Operations         :          9,440             1,010  
    Finance cost                          :            (2)               (1)  
    Share of Profit/(Loss) of Associates  :              0                 0  
    Share of Profit/(Loss) of Jointly                                         
             Controlled Entites           :              0                 0  
    Profit/(Loss) after Taxation & MI     :          9,438             1,009  
    % Change Over the Last Period         :        +835.38%                   
    EPS / (LPS)                                                               
              Basic (in dollar)           :      HKD 0.017        HKD 0.0018  
              Diluted (in dollar)         :     HKD 0.0161        HKD 0.0018  
    Extraordinary (ETD) Gain/(Loss)       :             0                 0   
    Profit (Loss) after ETD Items         :         9,438             1,009   
    1st Quarter Dividends per Share       :            NIL               NIL  
    (specify if with other options)       :            N/A               N/A  
    B/C Dates for 1st Quarter Dividends   :            N/A                    
    Payable Date                          :            N/A                    
    B/C Dates for (-) General Meeting     :            N/A                    
    Other Distribution for Current Period :            NIL                    
    B/C Dates for Other Distribution      :            N/A                    
                                           (bdi: both days inclusive)         
                                                                              
    For and on behalf of                                                      
    Essex Bio-Technology Limited                                              
                                                                              
    Signature :                                                               
    Name      : Fang Hai Zhou                                                 
    Title     : Managing Director                                             
                                                                              
    Responsibility statement                                                  
                                                                              
    The directors of the Company (the "Directors") as at the date hereof      
    hereby collectively and individually accept full responsibility for the   
    accuracy of the information contained in this results announcement form   
    (the "Information") and confirm, having made all reasonable inquiries,    
    that to the best of their knowledge and belief the Information are        
    accurate and complete in all material respects and not misleading and     
    that there are no other matters the omission of which would make the      
    Information herein inaccurate or misleading.The Directors acknowledge     
    that the Stock Exchange has no responsibility whatsoever with regard to   
    the Information and undertake to indemnify the Exchange against all       
    liability incurred and all losses suffered by the Exchange in connection  
    with or relating to the Information.                                      
                                                                              
    Remarks:                                                                  
    1. Basis of preparation                                                   
                                                                              
    These financial statements have been prepared in accordance with          
    Hong Kong Financial Reporting Standards (which also include               
    Statements of Standard Accounting Practice and Interpretations)           
    issued by the Hong Kong Institute of Certified Public Accountants,        
    accounting principles generally accepted in Hong Kong and the             
    disclosure requirements of the Hong Kong Companies Ordinance.             
                                                                              
    2. Tax                                                                    
                                                                              
    No provision for Hong Kong profits tax has been made as the Group         
    had no assessable profit subject to Hong Kong profit tax for the          
    three months ended 31 March 2005 and the corresponding period in 2004.    
                                                                              
    The Group's operating subsidiaries are all established and carrying       
    on business in the Special Economic Zones of the PRC as foreign           
    investment enterprises. They are subject to the enterprise income tax     
    at a concessionary rate of 15%. One of the Group's subsidiaries,          
    which is engaged in production, is entitled to seek exemption from        
    the enterprise income tax for two years starting from the first year      
    of profitable operations after offsetting accumulated losses brought      
    forward, followed by a 50% reduction in enterprise income tax for the     
    next three years. No provision for the PRC enterprise income tax has      
    been made as there was no net assessable income for the three months      
    31 March 2005 and the corresponding period in 2004.