Walnut Capital Limited — Earnings Release 1999

May 18, 2000

Listed Company Information

HAYWOOD INV<0905> - Results Announcement Haywood Investments Limited announced on 18/5/2000: (stock code: 905) The accounts which contain the following results are qualified by the Company's auditor. For more details, please refer to the press announcement to be issued by the Company on 19/5/2000. Year end date: 31/12/1999 Currency: HK$ (Audited) 12-month (Audited) Period Period from 1/1/1999 from 21/4/1998 to 31/12/1999 to 31/12/1998 ('000) ('000) Turnover - Continuing : 6,698 4,463 - Discontinued : - - Operating Profit/(Loss) - Continuing : 1,644 2,404 - Discontinued : - - Total Operating Profit/(Loss) : 1,644 2,404 Share of Profit/(Loss) of Associated Companies : - - Share of Profit/(Loss) of Jointly Controlled Entities : - - Profit/(Loss) after Tax & MI : 1,450 2,274 % Change over Last Period : -36% EPS/(LPS)-Basic : 1.45 cents 2.98 cents -Diluted : - - Extraordinary (ETD) Gain/(Loss) : - - Profit/(Loss) after ETD Items : 1,450 2,274 Final Dividend per Share : Nil Nil (Specify if with other options) : - - 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) The Company was incorporated on 21st April, 1998 and its shares were listed on The Stock Exchange of Hong Kong Limited on 17th July, 1998. The results in 1998 covered the period from the date of incorporation of the Company to 31st December, 1998. 2) The calculation of the earnings per share is based on the profit for the year/period of HK$1,450,000 (1998: HK$2,274,000) and on the weighted average number of 100,000,000 (1998: 76,274,510) shares in issue during the year/period.