STAR BIO-TECH<1051> - Results Announcement

Star Bio-Tech (Holdings) Limited announced on 28/3/2001:
(stock code: 1051)

Please refer to the press announcement for the details of the auditors' 
review report on the interim financial statement, issued by the Company on 
29/3/2001.

Year end date: 30/6/2001
Currency: HK$                                (Unaudited)
                            (Unaudited)      Last
                            Current          Corresponding   (Unaudited)
                            Period           Period          6-month ended
                            from 1/7/2000    from 1/7/1999   from 1/4/1999
                            to 31/12/2000    to 31/12/1999   to 30/9/1999
                            ('000)           ('000)          ('000)
Turnover                  : 13,873           5,463           4,395
Profit/(Loss) from
  Operations              : (31,081)         (10,745)        (25,475)
Finance cost              : (1,935)          (4,989)         N/A
Share of Profit/(Loss) of
  Associates              : NIL              NIL             (451)
Share of Profit/(Loss) of
  Jointly Controlled 
  Entities                : NIL              NIL             NIL
Profit/(Loss) after Tax         
  & MI                    : (31,416)         (15,178)        (25,926)
% Change over Last Period : N/A
EPS/(LPS)-Basic           : (0.23 cent)      (1.20 cents)    (2.06 cents)
         -Diluted         : NIL              NIL             NIL
Extraordinary (ETD) Gain/
  (Loss)                  : NIL              NIL             NIL
Profit/(Loss) after ETD
  Items                   : (31,416)         (15,178)        (25,926)
Interim Dividend per Share: NIL              NIL             NIL
(Specify if with other 
  options)                : -                -               -
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          : N/A
B/C Dates for Other 
  Distribution            : N/A

Remarks:

(1) An analysis of turnover and profit/(loss) from continuing operations
and discontinued operations
                                           Continuing       Discontinued
                                           operations       operations
                                           HK$'000          HK$'000
Turnover                                   13,873           NIL
Profit/(Loss)                              (31,416)         NIL

(2) Loss Per Share

The calculation of the basic loss per share is based on the net loss for 
the period from 1st July, 2000 to 31st December, 2000 of HK$31,416,000 
(1.7.1999 to 31.12.1999: loss of HK$15,178,000, 1.4.1999 to 30.9.1999: 
loss of HK$25,926,000) and on the weighted average number of 
13,449,180,892 (1.7.1999 to 31.12.1999: weighted average number of 
1,261,264,520, 1.4.1999 to 30.9.1999: weighted average number of 
1,261,264,520) shares in issue after adjustment for the share 
consolidation on 14th June, 2000 to consolidate every two issued shares 
into one share.

No diluted loss per share for the six months ended 31st December, 2000 has 
been presented as the exercise of the share options would result in a 
decrease in the loss per share for the current period.

No diluted loss per share for the six months ended 31st December, 1999 has 
been presented as the exercise prices of the share options were greater 
than the market prices of the Company's shares during the prior period.

(3) Please note that the Company has changed its financial year end date 
from 31 March to 30 June. The current period's result covers six months to 
December, 2001 whereas comparative figures covered results for six months 
to December 1999 which was not audited nor announced before.

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