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Bossini International Holdings Limited
(Incorporated in Bermuda with limited liability)

Balance Sheet
31 March 1999

                                        Notes            1999       1998
                                                      HK$'000    HK$'000

INTERESTS IN SUBSIDIARIES                11           219,993    218,892
CURRENT ASSETS                           14             9,605      1,264
CURRENT LIABILITIES                      17             8,442        236
                                                    ----------  ---------
NET CURRENT ASSETS                                      1,163      1,028
                                                    ----------  ---------
                                                      221,156    219,920
                                                    ==========  =========
SHARE CAPITAL                            20            27,430     27,430
RESERVES                                 21           193,726    192,490
                                                    ----------  ---------
                                                      221,156    219,920
                                                    ==========  =========

Shuk Hoi LAW
Director
Ka Sing LAW
Director

Source: Bossini International Holdings Limited
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