PAC CHALLENGE<0166> - Results Announcement

Pacific Challenge Holdings Limited announced on 7/12/2000:
(stock code: 166)
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
                                           ('000)           ('000)
Turnover                                 : 38,511           47,819
Profit/(Loss) from Operations            : 14,515           22,407
Finance cost                             : (1,156)          (1,163)
Share of Profit/(Loss) of Associates     : -                -
Share of Profit/(Loss) of
  Jointly Controlled Entities            : -                -
Profit/(Loss) after Tax & MI             : 15,377           18,630
% Change over Last Period                : -17.5%
EPS/(LPS)-Basic                          : 6.2 cents        7.8 cents
         -Diluted                        : N/A              N/A
Extraordinary (ETD) Gain/(Loss)          : -                -
Profit/(Loss) after ETD Items            : 15,377           18,630
Interim Dividend per Share               : NIL              3 cents
(Specify if with other options)          : N/A              -
B/C Dates for Interim Dividend           : N/A
Payable Date                             : N/A
B/C Dates for (-) General Meeting        : N/A
Other Distribution for Current Period    : NIL
B/C Dates for Other Distribution         : N/A

Remarks:

(1) Turnover and profits from operations from continuing and discontinued 
operations

                   Six months ended            Six months ended
                 30th September, 2000       30th September, 1999        
                                                               Profits  
                   Operating  Profits from          Operating  from       
         Turnover  expenses   operations   Turnover expenses   operations
         HK$'000   HK$'000    HK$'000      HK$'000  HK$'000    HK$'000

Continuing 16,266    (4,782)    11,444     12,031   (3,860)     8,171
Operations

Discontinued 22,285  (14,269)    8,016      35,788  (21,085)    14,703
--------------------------------------------------------------------------
             38,511   (19,051)    19,460    47,819   (24,945)    22,874
General
and 
administrative
expenses     -        (4,945)     (4,945)    -        (467)      (467)
--------------------------------------------------------------------------
             38,511   (23,996)    14,515    47,819    (25,412)    22,407
==========================================================================

(2) Profits after taxation

Profits after taxation is arrived after crediting gain on disposal of 
subsidiary companies which represents the difference between the proceeds 
from sale of the subsidiary companies and the net carrying amounts of
the assets and liabilities of those subsidiary companies at 29 June 2000.
The date of disposal of those subsidiary companies.

(3) Earnings per share

The calculation of basic earnings per share is based on the profit 
attributable to shareholders of HK$15,377,000 (1999: HK$18,630,000) and 
the weighted average of 247,463,607 (1999: 238,880,000) ordinary shares in
issue during the period.

A fully diluted earnings per share is not shown, as there are no share 
options, warrants or any other convertible instruments, which could cause 
dilution.

(4) Comparative figures

Certain prior period comparative figures have been reclassified to conform 
to the current period's presentation.

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