China Ocean Group Development Limited — Earnings Release 2005

Feb 14, 2005

GEM

IA INT'L<08047> - Results Announcement (Q3, 2004/2005, Summary)

IA International Holdings Limited announced on 14/02/2005:
(stock code: 08047 )

Year end date :31/03/2005
Currency :HKD
Auditors' report :N/A
3rd 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 31/12/2004     to 31/12/2003
                                             $'000             $'000

Turnover : 30,973 69,921
Profit/(Loss) from Operations : (12,246) 2,396
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 : (12,192) 1,929
% Change Over the Last Period : N/A
EPS / (LPS)
Basic (in dollar) : (HKD 0.0406) HKD 0.0064
Diluted (in dollar) : N/A N/A
Extraordinary (ETD) Gain/(Loss) : 0 0
Profit (Loss) after ETD Items : (12,192) 1,929
3rd Quarter Dividends per Share : NIL NIL
(specify if with other options) : N/A N/A
B/C Dates for 3rd 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 unaudited consolidated results have been prepared under the
historical cost convention and 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. The accounting policies adopted
are consistent with those set out in the annual financial
statements for the year ended 31st March, 2004.

All significant transactions and balances within the Group have
been eliminated on consolidation.

1. (Losses)/earnings per share

The calculation of basic (losses)/earnings per share for the
three months and nine months ended 31st December, 2004 is based
on the unaudited consolidated net loss from ordinary activities
attributable to shareholders of approximately HK$12,063,000 and
HK$12,192,000 respectively (three months and nine months ended
31st December, 2003: unaudited consolidated net profit from
ordinary activities attributable to shareholders of approximately
HK$316,000 and HK$1,929,000 respectively) and 300,000,000 shares
in issue (three months and nine months ended 31st December, 2003:
300,000,000 shares).

Diluted (losses)/earnings per share is not presented as there
were no diluting events existed during the three months and nine
months ended 31st December, 2004 and the corresponding periods
in 2003.