HENDERSON CHINA<00246> - Results Announcement

Henderson China Holdings Limited announced on  2/10/2003:
(stock code: 00246 )
Year end date: 30/6/2003
Currency: HKD
Auditors' Report: Unqualified

                                                        (Audited   )
                                     (Audited   )       Last
                                     Current            Corresponding
                                     Period             Period
                                     from 1/7/2002      from 1/7/2001  
                                     to 30/6/2003       to 30/6/2002  
                               Note  ($         )       ($         )
Turnover                           : 188,330,000        577,612,000       
Profit/(Loss) from Operations      : (302,205,000)      158,650,000       
Finance cost                       : (16,637,000)       (8,141,000)       
Share of Profit/(Loss) of 
  Associates                       : (62,491,000)       (7,454,000)       
Share of Profit/(Loss) of
  Jointly Controlled Entities      : N/A                N/A               
Profit/(Loss) after Tax & MI       : (395,183,000)      132,886,000       
% Change over Last Period          : N/A       %
EPS/(LPS)-Basic (in dollars)       : (0.8)              0.27              
         -Diluted (in dollars)     : N/A                N/A               
Extraordinary (ETD) Gain/(Loss)    : N/A                N/A               
Profit/(Loss) after ETD Items      : (395,183,000)      132,886,000       
Final Dividend                     : 0.03               0.06              
  per Share                                                               
(Specify if with other             : N/A                N/A               
  options)                                                                
                                                                          
B/C Dates for 
  Final Dividend                   : 25/11/2003         to 1/12/2003 bdi.
Payable Date                       : 3/12/2003 
B/C Dates for (-)            
  General Meeting                  : N/A          
Other Distribution for             : N/A           
  Current Period                     
                                     
B/C Dates for Other 
  Distribution                     : N/A          

Remarks:

                                 
1. The Group's turnover for the year ended 30th June, 2003 amounted to 
approximately HK$188 million and the analysis by business segment is as 
follows:

                                                        Group turnover
                                                For the year ended 30th 
                                                June
                                                2003            2002
                                                HK$'000         HK$'000
                                                                
        Property development                    91,042          398,391
        Property investment                     41,291          67,503
        Finance                                 40,931          81,865
        Management and sales commissions        15,066          26,168
        Guaranteed return on investment         -               3,685
                                                ---------       ---------
                                                188,330         577,612
                                                ==========      ========        




2. (Loss) / profit from Operations is stated after interest income and other 
income, but before finance cost, share of losses less profits of 
associates, taxation and minority interests, and is arrived at after 
charging / (crediting) : -


                                             For the year ended 30th June
                                                2003            2002
                                                HK$'000         HK$'000
                                                        
Provisions on property projects                 262,500         -
Bad debts written off / provision                44,566         5,048
Profit on disposal of interest in subsidiaries  (99,530)        -
Loss/(profit) on disposal of interest 
in associates                                   78,294          (4,351)
                                                        

                        
3. (Loss) / earnings per share                     

The calculation of (loss) / earnings per share is based on the loss 
attributable to shareholders of HK$395,183,000 (2002: profit of 
HK$132,886,000) and on 496,776,205 ordinary shares (2002: 496,776,205 
ordinary shares) in issue during the year. There was no potential dilution 
of loss per share during the year and no potential dilution of earnings 
per share for 2002.