SEA HOLDINGS<0251> - Results Announcement

S E A Holdings Limited announced on 8/9/2000:
(stock codes: Ord: 251  & War: 920)
Year end date: 31/12/2000
Currency: HK$                                               (Unaudited)
                                           (Unaudited)      Last
                                           Current          Corresponding
                                           Period           Period
                                           from 1/1/2000    from 1/1/1999
                                           to 30/6/2000     to 30/6/1999
                                           ('000)           ('000)
Turnover                                 : 429,648          372,220
Profit/(Loss) from Operations            : 269,849          204,875
Finance cost                             : (161,191)        (133,614)
Share of Profit/(Loss) of Associates     : 22,169           4,923
Share of Profit/(Loss) of
  Jointly Controlled Entities            : 281              (330)
Profit/(Loss) after Tax
  & MI                                   : 81,708           79,109
% Change over Last Period                : +3.29%
EPS/(LPS)-Basic                          : 16.2 cents       14.5 cents
         -Diluted                        : 13.9 cents       13.1 cents
Extraordinary (ETD) Gain/(Loss)          : -                -
Profit/(Loss) after ETD Items            : 81,708           79,109
Interim Dividend per Share               : 6 cents          6 cents
(Specify if with other options)          : -                -
B/C Dates for Interim Dividend           : 25/9/2000 to 27/9/2000 bdi.
Payable Date                             : 29/9/2000
B/C Dates for (-) General Meeting        : N/A
Other Distribution for Current Period    : N/A
B/C Dates for Other Distribution         : N/A

Remark:

1. The calculation of profit/loss from operations:      
                                        Half year ended 30th June
                                        2000            1999 
                                        HK$'000         HK$'000 

Profit from operating activities        269,849         227,860 
Loss on dilution of interest in 
  subsidiaries                          -               (22,985 )
                                        -------------------------
Profit/(Loss) from Operations           269,849         204,875 
Finance cost                            (161,191)       (133,614)
                                        -------------------------
                                        108,658         71,261
                                        =========================  

Under SSAP 1, finance cost is separately shown. 

2.      The calculation of the basic and diluted earnings per share is 
        based on the following data:    

                                        Half year ended 30th June,
                                        2000            1999 
                                        HK$'000         HK$'000 
Earnings                        
Profit for the period                   81,708          79,109
                                        ======================
Earnings for the purposes of basic 
  earnings per share                    81,708          79,109

Effect of dilutive potential ordinary shares:-
 Adjustment to share of results of subsidiaries
 based on dilution of their earnings 
 per share                              (2,671)         -
                                        ----------------------  
                                        79,037          79,109
                                        ======================          
        
                                        Half year ended 30th June,
                                        2000            1999 
Number of shares

Weighted average number of ordinary shares
  for the purposes of basic
  earnings per share                    504,934,368     546,093,023

Effect of dilutive potential ordinary shares:
  Options                               5,939,054       6,402,981
  Warrants                              55,982,751      51,306,645
                                        ---------------------------  
Weighted average number of ordinary shares for
  the purposes of diluted earnings 
  per share                             566,856,173     603,802,649
                                        ===========================