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Information Summary of Press ConferenceFor Immediate Release

2004 ANNUAL GENERAL MEETING

Date: 15 October 2004

Guoco Group Limited reported improved results despite the challenging circumstances in the year to June 2004. The consolidated profit attributed to shareholders amounted to HK$2,440 million, nearly doubled the profit of last year. Earning per share rose 98% to HK$7.43.

About 90% of the contribution from operation for the year was derived from investment management and treasury operations. This reflected Guoco Group's continuing transformation to an efficient investment organisation since its disposal of Dao Heng Bank in 2001. Guoco has now created a disciplined investment infrastructure with risk management process to permit the Group to identify and manage portfolio, strategic and direct investment opportunities with an Asian focus. The Group will continue to add resources to enhance its investment infrastructure and competency.

During recent years, Guoco Group undertook various initiatives to streamline and restructure its corporate organisations and operations to optimise resources. The Group has rationalised and consolidated its property and property related activities into GuocoLand Limited, its subsidiary listed on the Singapore Exchange. GuocoLand acquired a 41% interest in Hong Leong Properties Berhad which is listed in Malaysia and became its controlling shareholder. This contributes to GuocoLand's transformation into a regional property company with embedded market teams in major property centres, namely, Singapore, China and Malaysia. Guoco Group has taken opportunities to increase its interest in GuocoLand from approximately 54.4% in 2001 to 62.4%.

Guoco Group's indirect associated company, Hong Leong Bank Berhad (listed in Malaysia), has obtained a banking license and opened its Branch in Hong Kong. The Branch, initially focusing on treasury and wealth management business, has launched operations in July, 2004. Guoco sees mutually beneficial business opportunities between the Group's financial service companies, including Dao Heng Securities and Dao Heng Insurance, and Hong Leong Bank, particularly through business referrals and cross-selling.

Corporate Information

Guoco Group Limited is a Hong Kong listed company (Stock Code: 053), whose subsidiaries and associated companies are principally engaged in investment management and treasury, stock and commodity broking, investment advisory, insurance, banking and finance as well as property development and investment.

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For more details, please refer to the 2004 Annual Report which is posted on Guoco's website at http://www. guoco.com.

Contacts :
Ms. Stella Lo
Group Company Secretary
Tel: (852) 2283 8710
Fax: (852) 2285 3210
Email: stella.lo@guoco.com


Source: Guoco Group Limited
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