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

Consolidated Balance Sheet
31 March 1999


                                              Notes        1999       1998
                                                        HK$'000    HK$'000

FIXED ASSETS                                    10       95,078    110,471

INTANGIBLE ASSETS                               12        7,273      7,273

DEFERRED PRE-OPERATING EXPENSES                             242        500

INTERESTS IN ASSOCIATED COMPANIES               13        2,007        699

CURRENT ASSETS                                  14      304,678    313,835

CURRENT LIABILITIES                             17      122,765    151,239
                                                       --------   --------
NET CURRENT ASSETS                                      181,913    162,596
                                                       --------   --------
TOTAL ASSETS LESS CURRENT LIABILITIES                   286,513    281,539

LONG TERM BANK LOANS                            18        3,865     10,528
                                                       --------   --------
                                                        282,648    271,011
                                                       ========   ========
SHARE CAPITAL                                   20       27,430     27,430

RESERVES                                        21      255,115    242,457
                                                       --------   --------
                                                        282,545    269,887

MINORITY INTERESTS                                          103      1,124
                                                       --------   --------
                                                        282,648    271,011
                                                       ========   ========
                

Shuk Hoi LAW
Director
Ka Sing LAW
Director

Source: Bossini International Holdings Limited
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