TOYO HOLDINGS<0094> - Results Announcement

Toyo Holdings Limited announced on 29/5/2000:
(stock code: 94)

The accounts which contain the following results are qualified by the 
Company's auditor.  For more details, please refer to the press 
announcement issued by the Company on 30/5/2000.

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                         : 3,835,816        4,278,739
    - Discontinued                       : 303,358          -
Operating Profit/(Loss)
    - Continuing                         : (490,299)        (239,496)
    - Discontinued                       : (83,324)         -
Total Operating Profit/(Loss)            : (573,623)        (239,496)
Share of Profit/(Loss) of
  Associated Companies                   : 3,016            10,538
Share of Profit/(Loss) of
  Jointly Controlled Entities            : -                -
Profit/(Loss) after Tax & MI             : (611,493)        (279,803)
% Change over Last Period                : N/A
EPS/(LPS)-Basic                          : (22.25 cents)    (13.02 cents)
         -Diluted                        : N/A              N/A
Extraordinary (ETD) Gain/(Loss)          : -                -
Profit/(Loss) after ETD Items            : (611,493)        (279,803)
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) Turnover

Turnover represents the aggregate of the net invoiced value of goods sold, 
after allowances for goods returned and trade discounts.

(2) Loss per share

The calculation of basic loss per share is based on the net loss
attributable to shareholders of HK$611,493,000 (1998: HK$279,803,000) and 
the weighted average of 2,748,669,151 (1998: 2,148,656,822) shares in 
issue during the year.

The diluted loss per share for the year ended 31 December 1999 and 1998 
have not been shown as both the outstanding warrants and options during 
these years had an anti-dilutive effect on the basic loss per share for 
both years.

(3) Certain comparative figures have been restated to conform with the 
current presentation as required under the Hong Kong Society of 
Accountant's Statement of Standard Accounting Practice 1 (revised) 
"Presentation of Financial Statements".

For more details, please refer to the press announcement today.