CHEVALIER CONS<0579> - Results Announcement

Chevalier Construction Holdings Limited announced on 18/12/2000:
(stock code: 579)
Year end date: 31/3/2001
Currency: HKD                                               (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                                 : 569,710          1,128,336
Profit/(Loss) from Operations            : (19,041)         5,129
Finance cost                             : (471)            (3,680)
Share of Profit/(Loss) of Associates     : 403              1,152
Share of Profit/(Loss) of
  Jointly Controlled Entities            : (453)            (41)
Profit/(Loss) after Tax
  & MI                                   : (19,756)         2,272
% Change over Last Period                : N/A
EPS/(LPS)-Basic                          : (8.63 cents)     0.99 cent
         -Diluted                        : N/A              N/A
Extraordinary (ETD) Gain/(Loss)          : -                -
Profit/(Loss) after ETD Items            : (19,756)         2,272
Interim Dividend per Share               : Nil              Nil
(Specify if with other options)          : -                -
B/C Dates for Interim Dividend           : N/A              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)  Certain comparative figures have been reclassified to conform with 
current period presentation.

(2)  (Loss) Earning per share

The calculation of the basic (loss) earnings per share is based on the net 
loss for the period of HK$19,756,000 (1999: profit of HK$2,272,000) and on 
229,000,000 shares in issue during the year.

Diluted earnings per share is not presented as the exercise price of the 
outstanding share options is higher than the fair value per share and 
accordingly the computation of diluted earnings per share does not assume 
their exercise.