Tomson Group Limited — Earnings Release 1999

May 9, 2000

Listed Company Information

PO WING KWAN<0149> - Results Announcement Po Wing Kwan International (Holdings) Limited announced on 9/5/2000: (stock code: 149) 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 : 59,694 67,217 - Discontinued : 0 0 Operating Profit/(Loss) - Continuing : (282,337) (481,244) - Discontinued : 0 0 Total Operating Profit/(Loss) : (282,337) (481,244) Share of Profit/(Loss) of Associated Companies : 0 0 Share of Profit/(Loss) of Jointly Controlled Entities : 0 0 Profit/(Loss) after Tax & MI : (226,068) (376,429) % Change over Last Period : N/A EPS/(LPS)-Basic : (24.5 cents) (47.7 cents) -Diluted : N/A N/A Extraordinary (ETD) Gain/(Loss) : N/A N/A Profit/(Loss) after ETD Items : (226,068) (376,429) 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 Annual General Meeting : 23/6/2000 to 27/6/2000 bdi. Other Distribution for Current Period : N/A B/C Dates for Other Distribution : N/A Remarks: 1) The Group's loss from operating activities is arrived at after charging the following items: 1999 1998 HK$'000 HK$'000 Deficits arising on revaluation of: - Properties under development 0 63,700 - Investment properties 21,460 49,802 - Construction in progress 128,182 242,223 - Properties under construction 81,504 14,521 - Hotel property 6,499 0 Provision for project held for sale written down to net realisable value 0 67,993 Loss on disposal of project held for sale 13,500 0 Written down of value of deferred assets 0 8,771 2) Loss per share The calculation of loss per share is based on the loss after taxation and minority interests of HK$226,068,000 (1998: HK$376,429,000) and on the weighted average number of 921,144,500 shares (1998: 789,519,295 shares) in issue during the year. There are no dilutive ordinary shares in issue. Accordingly, no diluted loss per share figure is presented.