Deewin Tianxia Co., Ltd — Earnings Release 1999

May 22, 2000

Listed Company Information

ING BEIJING<1062> - Results Announcement ING Beijing Investment Company Limited announced on 22/5/2000: (stock code: 1062) Year end date: 31/12/1999 Currency: HKD (Audited) (Audited) Last Current Corresponding Period Period from 1/1/1999 from 1/1/1998 to 31/12/1999 to 31/12/1998 Turnover - Continuing : 15,805,402 19,404,061 - Discontinued : Nil Nil Operating Profit/(Loss) - Continuing : (461,292) (1,535,895) - Discontinued : Nil Nil Total Operating Profit/(Loss) : (461,292) (1,535,895) Share of Profit/(Loss) of Associated Companies : Nil Nil Share of Profit/(Loss) of Jointly Controlled Entities : (115,699,434) (45,011,731) Profit/(Loss) after Tax & MI : (116,257,137) (20,107,118) % Change over Last Period : N/A EPS/(LPS)-Basic : (23.25 cents) (4.02 cents) -Diluted : Nil Nil Extraordinary (ETD) Gain/(Loss) : Nil Nil Profit/(Loss) after ETD Items : (116,257,137) (20,107,118) Final Dividend per Share : Nil Nil (Specify if with other options) : Nil Nil B/C Dates for Final Dividend : Nil Payable Date : Nil B/C Dates for Annual General Meeting : 19/6/2000 to 26/6/2000 bdi. Other Distribution for Current Period : Nil B/C Dates for Other Distribution : Nil Remarks: (1) HKD Remarks Operating profit as per 1998 audited accounts 524,128.00 Add: Amortisation of goodwill 653,917.00 Restated to share of losses of jointly controlled entities ------------- 1,178,045.00 Less: Loss on listed investments (2,713,940.00) Stated as Exceptional Items in the 1998 audited accounts -------------- Restated operating loss for the year 1998 (1,535,895.00) ============== (2) Share of losses of jointly controlled entities per 1998 audited accounts 44,357,814.00 Add: Amortisation of goodwill 653,917.00 ----------------- Restated amount 45,011,731.00 ==============