09:20     NW INDUSTRY<08258> - Quarterly Results Announcement (2)             

                                                                              
    3. Calculation of (loss)/earnings per shares                              
                                                                              
    The loss per share for the three months period ended 31 March 2005 is     
    RMB0.004 (2004: earning per share of RMB0.004). The calculation is based  
    on loss of RMB4,089,000 over the weighted average share capital of        
    910,000,000 shares in issue for the three months period ended 31 March    
    2005 (2004: loss of RMB3,351,000 over the weighted average share capital  
    of 910,000,000 shares for the three months period ended 31 March 2004).   
                                                                              
    No diluted earnings per share has been presented as there were no         
    potential dilutive shares for the three months ended 31 March 2005        
    and 2004.