China Ocean Group Development Limited — Earnings Release 2005

Nov 4, 2004

GEM

IA INT'L<08047> - Results Announcement (Q2, 2004/2005, Summary)

IA International Holdings Limited announced on 04/11/2004:
(stock code: 08047 )

Year end date :31/03/2005
Currency :HKD
Auditors' report :N/A
2nd Quarterly Report Reviewed by :Audit Committee

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 01/04/2004   from 01/04/2003
                                     to 30/09/2004     to 30/09/2003
                                             $'000             $'000

Turnover : 25,088 54,104
Profit/(Loss) from Operations : (119) 2,070
Finance cost : 0 (22)
Share of Profit/(Loss) of Associates : 0 0
Share of Profit/(Loss) of Jointly
Controlled Entites : 0 0
Profit/(Loss) after Taxation & MI : (129) 1,613
% Change Over the Last Period : N/A
EPS / (LPS)
Basic (in dollar) : HKD -0.0004 HKD 0.0054
Diluted (in dollar) : N/A N/A
Extraordinary (ETD) Gain/(Loss) : 0 0
Profit (Loss) after ETD Items : (129) 1,613
2nd Quarter Dividends per Share : NIL NIL
(specify if with other options) : N/A N/A
B/C Dates for 2nd 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
IA International Holdings Limited

Signature :
Name : Li Ting
Title : 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 presentation

The interim financial statements have been prepared
under historical cost convention and in accordance with
accounting principles generally accepted in Hong Kong,
Statement of Standard Accounting Practice 25 "Interim
Financial Reporting" issued by the Hong Kong Institute of
Certified Public Accountants and the disclosure requirements
of Hong Kong Companies Ordinance and the GEM Listing Rules.

The accounting policies and methods of computation used
in the preparation of the interim accounts are consistent
with those used in the annual accounts for the year ended
31st March, 2004.

1. (Loss)/earnings per share

The calculation of basic loss per share is based on the
unaudited net loss from ordinary activities attributable
to shareholders for the three months and six months ended
30th September, 2004 of approximately HK$315,000 and
HK$129,000, respectively, (three months and six months
ended 30th September, 2003: net profit of approximately
HK$389,000 and HK$1,613,000, respectively) and 300,000,000
shares in issue (three months and six months ended 30th
September, 2003: 300,000,000 shares).

Diluted earnings per share is not presented as there were
no diluting events existed during the three months and six
months ended 30th September, 2004 and the corresponding
periods in 2003.