S E A Holdings Limited — Earnings Release 1999

May 9, 2000

Listed Company Information

SEA HOLDINGS<0251> - Results Announcement S E A Holdings Limited announced on 9/5/2000: (stock codes: Ord: 251 & War: 920) 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 ('000) ('000) Turnover - Continuing : 833,062 635,829 - Discontinued : - - Operating Profit/(Loss) - Continuing : 188,875 (323,084) - Discontinued : - - Total Operating Profit/(Loss) : 188,875 (323,084) Share of Profit/(Loss) of Associated Companies : 17,968 (10,745) Share of Profit/(Loss) of Jointly Controlled Entities : (371) (3,992) Profit/(Loss) after Tax & MI : 150,136 (95,696) % Change over Last Period : N/A EPS/(LPS)-Basic : 27.8 cents (18.0 cents) -Diluted : 24.5 cents N/A Extraordinary (ETD) Gain/(Loss) : - - Profit/(Loss) after ETD Items : 150,136 (95,696) Final Dividend per Share : 10.0 cents 10.0 cents (Specify if with other options) : - - B/C Dates for Final Dividend : 19/6/2000 to 23/6/2000 bdi. Payable Date : 4/7/2000 B/C Dates for Annual General Meeting : 19/6/2000 to 23/6/2000 bdi. Other Distribution for Current Period : N/A B/C Dates for Other Distribution : N/A Remark: Earnings (Loss) Per Share The calculation of the basic and diluted earnings (loss) per share is based on the following data:- 12 months ended 31st December 1999 1998 HK$'000 HK$'000 Earnings Profit (loss) for the year 150,136 (95,696) ======= ======== Earnings for the purposes of basic earnings (loss) per share 150,136 (95,696) Effect of dilutive potential ordinary shares: Adjustment to the share of results of subsidiaries/associates based on dilution of their earnings per share (3,367) - -------- -------- Earnings for the purpose of diluted earnings per share 146,769 (95,696) ======= ======== Number of shares Weighted average number of ordinary shares for the purposes of basic earnings (loss) per share 540,007,406 544,618,386 Effect of dilutive potential ordinary shares - Options 2,654,494 - - Warrants 55,939,326 - ---------- ----------- Weighted average number of ordinary shares for the purposes of diluted earnings per share 598,601,226 544,618,386 =========== =========== The computation of diluted loss per share for 1998 was not presented since the conversion of the Company's outstanding options and warrants would result in a decrease in net loss per share from continuing ordinary operations.