SOUNDWILL HOLD<0878> - Results Announcement

Soundwill Holdings Limited announced on 23/9/1999:
(stock codes: Ord: 878 & War:1011)
Year end date: 31/12/1999
Currency: HK$
                                                            Last
                                           Current          Corresponding
                                           Period           Period
                                           from 1/1/1999    from 1/1/1998
                                           to 30/6/1999     to 30/6/1998
                                           ('000)           ('000)
Turnover/Interest Income                 : 86,062           294,298
Profit-Continuing Operations
    - Operating Profit/(Loss)            : (84,785)         (24,424)
    - Exceptional Items                  : (29,478)         (104,756)
    - Discontinued Operations            : -                -
Total Operating Profit/(Loss)            : (114,263)        (129,180)
Share of Profit/(Loss) of
  Associated Companies                   : 2,427            3,151
Profit/(Loss) after Tax
  & MI                                   : (112,260)        (129,884)
% Change over Last Period                : N/A
EPS/(LPS)-Basic                          : (8.25 cents)     (10.38 cents)
         -Diluted                        : N/A              N/A
Extraordinary (ETD) Gain/(Loss)          : -                -
Profit/(Loss) after ETD Items            : (112,260)        (129,884)
Interim Dividend per Share               : 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) Exceptional items

                                        1999            1998
                                        HK$'000         HK$'000
Provision for diminution in value of
properties                              29,478          51,816
Provision for doubtful debts            -               32,630
Loss on disposal of investment 
properties                              -               20,310
                                        ----------      ---------
                                        29,478          104,756
                                        ===========     =========

2) Loss per share
No diluted loss per share is shown for the six months ended 30 June 1999 
as the exercise of the subscription rights attached to the outstanding 
warrants, convertible bonds and share options are anti-dilutive.