HERALD HOLD<0114> - Results Announcement

Herald Holdings Limited announced on 19/12/2000:
(stock code: 114)
Year end date: 31/3/2001
Currency: HK$                                               (Unaudited)
                                           (Unaudited)      Last
                                           Current          Corresponding
                                           Period           Period
                                           from 1/4/2000    from 1/4/1999
                                           to 30/9/2000     to 30/9/1999

Turnover                                 : 498,887,000      509,116,000
Profit/(Loss) from Operations            : 13,373,000       23,169,000
Finance cost                             : (828,000)        (691,000)
Share of Profit/(Loss) of Associates     : 335,000          (155,000)
Share of Profit/(Loss) of
  Jointly Controlled Entities            : NIL              NIL
Profit/(Loss) after Tax & MI             : 8,055,000        12,719,000
% Change over Last Period                : -37%
EPS/(LPS)-Basic                          : 1.29 cents       1.96 cents
         -Diluted                        : N/A              N/A
Extraordinary (ETD) Gain/(Loss)          : NIL              NIL
Profit/(Loss) after ETD Items            : 8,055,000        12,719,000
Interim Dividend per Share               : 1 cent           1 cent
(Specify if with other options)          : N/A              N/A
B/C Dates for Interim Dividend           : 5/1/2001 to 9/1/2001 bdi.
Payable Date                             : 18/1/2001
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 and profit for the period come from continuing operations 
only.

2. Earnings per share

The calculation of basic earnings per share is based on the profit for the 
period attributable to ordinary shareholders of HK$8,055,000 (1999: 
HK$12,719,000) and on 626,447,000 ordinary shares (1999: 647,951,000 
ordinary shares), being the weighted average number of ordinary shares in 
issue during the period.

There were no dilutive potential ordinary shares in existence during the 
period ended 30 September 2000.

3. Basis of preparation

The interim financial report has been prepared in accordance with the 
requirements of the Main Board Listing Rules of The Stock Exchange of Hong 
Kong Limited, including compliance with Statement of Standard Accounting 
Practice 25 "Interim Financial Reporting" issued by the Hong Kong Society 
of Accountants except that comparative figures for the cash flow statement 
have not been prepared as the company has taken advantage of the 
transitional provisions set out in the Main Board Listing Rules.

The same accounting policies adopted in the 1999/2000 annual accounts have 
been applied to the interim financial report.

The presentation and classification of items in the interim financial 
report have been changed due to the adoption of the requirements of SSAP 
25  "Interim Financial Reporting".  Comparative figures have been 
reclassified to conform with the current period's presentation.