08:57     STAR CRUISES<00678> - Results Announcement (1)                      

    Star Cruises Limited announced on 24/05/2005:                             
    (stock code: 00678 )                                                      
    Year end date: 31/12/2005                                                 
    Currency: USD                                                             
    Auditors' Report: N/A                                                     
    Interim/Quarterly report reviewed by: Both Audit Committee and Auditors   
                                                                              
                                                            (Unaudited )      
                                         (Unaudited )       Last              
                                         Current            Corresponding     
                                         Period             Period            
                                         from 01/01/2005    from 01/01/2004   
                                         to 31/03/2005      to 31/03/2004     
                                   Note  ('000      )       ('000      )      
    Turnover                           : 404,483            390,747           
    Profit/(Loss) from Operations      : 30,003             18,467            
    Finance cost                       : (31,761)           (22,087)          
    Share of Profit/(Loss) of                                                 
      Associates                    3  : (151)              N/A               
    Share of Profit/(Loss) of                                                 
      Jointly Controlled Entities   4  : (27)               N/A               
    Profit/(Loss) after Tax & MI       : 4,403              (9,180)           
    % Change over Last Period          : N/A       %                          
    EPS/(LPS)-Basic (in dollars)       : 0.0008             (0.0017)          
             -Diluted (in dollars)     : 0.0008             N/A               
    Extraordinary (ETD) Gain/(Loss)    : N/A                N/A               
    Profit/(Loss) after ETD Items      : 4,403              (9,180)           
    1st Quarter Dividend               : Nil                Nil               
      per Share                                                               
    (Specify if with other             : N/A                N/A               
      options)                                                                
                                                                              
    B/C Dates for                                                             
      1st Quarter Dividend             : N/A                                  
    Payable Date                       : N/A                                  
    B/C Dates for (-)                                                         
      General Meeting                  : N/A                                  
    Other Distribution for             : N/A                                  
      Current Period                                                          
                                                                              
    B/C Dates for Other                                                       
      Distribution                     : N/A                                  
                                                                              
    Remarks:                                                                  
                                                                              
    (1)     Basis of presentation of results                                  
                                                                              
    The unaudited accounts of the Group have been prepared in accordance with 
    accounting principles generally accepted in Hong Kong and comply with     
    accounting standards issued by the Hong Kong Institute of Certified Public
    Accountants ("HKICPA") and Appendix 16 of the Rules Governing the Listing 
    of Securities on the Stock Exchange of Hong Kong Limited (the "Listing    
    Rules"). The accounting policies and methods of computation used in the   
    preparation of these accounts are consistent with those used in the annual
    accounts for the year ended 31 December 2004.                             
                                                                              
    The HKICPA has issued a number of new and revised Hong Kong Financial     
    Reporting Standards and Hong Kong Accounting Standards ("new HKFRSs")     
    which are effective for accounting periods beginning on or after 1 January
    2005. As at 1 January 2005, the Group adopted these new HKFRSs which are  
    relevant to its operations. The adoption of these new HKFRSs did not have 
    any significant impact on its results of operations and financial         
    position, except for the adoption of HKFRS 2, HKFRS 3, HKAS 38, HKAS 17,  
    HKAS 32 and HKAS 39. Please refer the results announcement for more       
    details.                                                                  
                                                                              
    (2)     Basis of calculation for basic earnings per share and diluted     
    earnings per share                                                        
                                                                              
    Basic earnings per share is computed by dividing net profit by the        
    weighted average number of ordinary shares outstanding during each period.
    Fully diluted earnings per share is computed by dividing net profit by    
    the weighted average number of ordinary shares, potential ordinary shares 
    and other potential dilutive securities outstanding during each period.