Tomson Group Limited — Earnings Release 1998

May 17, 1999

Listed Company Information

PO WING KWAN<0149> - Results Announcement Po Wing Kwan International (Holdings) Limited announced on 14/5/1999: (stock code: 149) Year end date: 31/12/1998 Currency: HKD Last Current Corresponding Period Period from 1/1/1998 from 1/1/1997 to 31/12/1998 to 31/12/1997 ('000) ('000) Turnover/Interest Income : 67,217 84,714 Profit-Continuing Operations - Operating Profit/(Loss) : (34,234) (30,770) - Exceptional Items : (447,010) (87,551) - Discontinued Operations : N/A N/A Total Operating Profit/(Loss) : (481,244) (118,321) Share of Profit/(Loss) of Associated Companies : 0 (4) Profit/(Loss) after Tax & MI : (376,429) (102,597) % Change over Last Period : N/A EPS/(LPS)-Basic : (47.7 cents) (13 cents) -Diluted : N/A N/A Extraordinary (ETD) Gain/(Loss) : N/A N/A Profit/(Loss) after ETD Items : (376,429) (102,597) Final Dividend per Share : Nil Nil (Specify if with other options) : N/A N/A B/C Dates for Final Dividend : N/A Payable Date : N/A B/C Dates for (-) General Meeting : N/A Other Distribution for Current Period : N/A B/C Dates for Other Distribution : N/A Remarks: (1) Exceptional items 1998 1997 HK$'000 HK$'000 Deficits arising on revaluation of - properties under development (63,700) (90,000) - investment properties (49,802) (5,079) - construction in progress (242,223) 0 - properties under construction (14,521) 0 Provision for project held for sale written down to net realisable value (67,993) 0 Written down of value of deferred assets (8,771) (29,415) Gain on disposal of interests in subsidiaries 0 36,943 ---------- --------- (447,010) (87,551) ========== ======== (2) Loss per share The calculation of loss per share is based on the loss after taxation and minority interests of HK$376,429,000 (1997: HK$102,597,000) and on the weighted average number of 789,519,295 (1997: 793,010,060 shares (adjusted after sub-division of shares from one share to five shares effective from 2nd February, 1998)) in issue during the year. There are no dilutive potential ordinary shares in issue. Accordingly no diluted earnings per share figure is presented. For more details, please refer to the press announcement today.