Vision Values Holdings Ltd. — Earnings Release 1999

May 25, 2000

Listed Company Information

WAH YIK HOLD<0862> - Results Announcement Wah Yik Holdings Company Limited announced on 25/5/2000: (stock codes: Ord: 862 & War: 721) Year end date: 31/12/1999 Currency: HK$ (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 : 52,360 91,932 - Discontinued : - - Operating Profit/(Loss) - Continuing : (15,923) 54,726 - Discontinued : - - Total Operating Profit/(Loss) : (15,923) 54,726 Share of Profit/(Loss) of Associated Companies : - - Share of Profit/(Loss) of Jointly Controlled Entities : - - Profit/(Loss) after Tax & MI : (20,775) 44,054 % Change over Last Period : N/A EPS/(LPS)-Basic : (1.04 cents) 2.60 cents -Diluted : - - Extraordinary (ETD) Gain/(Loss) : - - Profit/(Loss) after ETD Items : (20,775) 44,054 Final Dividend per Share : Nil 0.5 cent (Specify if with other options) : - - B/C Dates for Final Dividend : - Payable Date : - B/C Dates for (-) General Meeting : - Other Distribution for Current Period : - B/C Dates for Other Distribution : - Remarks: (1) Dividend Proposed - nil (1998: HK0.5 cent) per ordinary share, adjusted for the subdivision of 1 ordinary share of HK$0.10 each into 10 ordinary shares of HK$0.01 each (the "Subdivision"). (2) EARNINGS/(LOSS) PER SHARE The calculation of basic loss per share is based on the net loss attributable to shareholders for the year of HK$20,775,000(1998: profit of HK$44,054,000), and the weighted average of 2,000,000,000 (1998: 1,687,671,230) ordinary shares, adjusted for the Subdivision, in issue during the year. The diluted loss per share for the year ended 31 December 1999 has not been shown as the warrants outstanding during the year had an anti-dilutive effect on the basic loss per share for the year. The diluted earnings per share for the year ended 31 December 1998 has not been calculated as no diluting events existed during the last year.