BENEFUN INT'L<1130> - Results Announcement

Benefun International Holdings Limited announced on 5/11/1999:
(stock code: 1130)
Year end date: 30/6/1999
Currency: HK$
                                                            Last
                                           Current          Corresponding
                                           Period           Period
                                           from 1/7/1998    from 1/7/1997
                                           to 30/6/1999     to 30/6/1998
                                           ('000)           ('000)
Turnover                                 : 113,239          426,939
Profit-Continuing Operations
    - Operating Profit/(Loss)            : (21,204)         (42,297)
    - Exceptional Items                  : (9,899)          (97,717)
    - Discontinued Operations            : -                -
Total Operating Profit/(Loss)            : (31,103)         (140,014)
Share of Profit/(Loss) of
  Associated Companies                   : (57)             -
Profit/(Loss) after Tax & MI             : (29,917)         (140,955)
% Change over Last Period                : N/A
EPS/(LPS)-Basic                          : ($0.065)         ($0.353)
         -Diluted                        : N/A              N/A
Extraordinary (ETD) Gain/(Loss)          : -                -
Profit/(Loss) after ETD Items            : (29,917)         (140,955)
Final Dividend per Share                 : Nil              Nil
(Specify if with other options)          : Nil              Nil
B/C Dates for Final Dividend             : Nil              
Payable Date                             : Nil
B/C Dates for (-) General Meeting        : Nil              
Other Distribution for Current Period    : Nil
B/C Dates for Other Distribution         : Nil             

Remarks:

(1) Exceptional items:
                                                 1999           1998
                                                HK$'000        HK$'000
Exceptional items include
Deficit on revaluation of                       (3,401)        (4,834)
 properties
Loss on disposal of a subsidiary                (6,498)           -
Permanent diminution in value of                   
 fixed assets                                      -           (9,036)
Loss on disposal of fixed assets                   -           (1,488)
Redundancy and severance
 payment                                           -           (6,873)
Obsolete stock written off                         -          (56,836)
Debtors and deposits written off                   -          (14,619)
Leasehold improvements written off                 -           (4,031)
                                              -----------     ---------
                                                (9,899)       (97,717)
                                                =======       ========
(2) Loss per share

The calculation of loss per share is based on the consolidated loss
attributable to shareholders of HK$29,917,000 (1998: HK$140,955,000)
divided by the weighted average of 457,575,600 ordinary shares (1998:
399,736,088 shares) in issue during the year.

Fully diluted figures are not shown as the Group incurred a loss for the 
year ended 30 June, 1999 and no dilutive potential ordinary shares existed 
in 1998.


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