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YUE YUEN INDUSTRIAL (HOLDINGS) LIMITED
(Incorporated in Bermuda with limited liability)

UNAUDITED QUARTERLY RESULTS
FOR THE THREE MONTHS ENDED 31st DECEMBER, 2000

Summary
The directors ("Directors") of Yue Yuen Industrial (Holdings) Limited ("Yue Yuen") announce the unaudited consolidated results of Yue Yuen and its subsidiaries (the "Group") for the first quarter ended 31st December, 2000. This announcement is made as part of Yue Yuen's current practice to publish its quarterly financial results.
The unaudited net profit of Yue Yuen for the three months ended 31st December, 2000 was approximately US$50.4 million.

The Directors of Yue Yuen are making this announcement of the Group's unaudited consolidated results for the first quarter ended 31st December, 2000 in line with its current practice to publish the Group's quarterly financial results.

Consolidated Income Statement
For the three months ended 31st December, 2000

                                                       Three months ended
                                                         31st December,
                                                      2000            1999
                                               (Unaudited)     (Unaudited)
                                                   US$'000         US$'000

Turnover                                           435,076         403,396
Cost of Sales                                     (324,693)       (295,602)
                                                  --------        --------
Gross Profit                                       110,383         107,794

Other Revenue                                       16,080          15,529
Selling and Distribution Expenses                  (13,358)        (13,102)
Administrative Expenses                            (42,123)        (38,146)
Other Operating Expenses                           (15,314)        (13,585)
                                                  --------        --------
Profit from Operations                              55,668          58,490
Finance Costs                                       (5,762)         (3,688)
Share of Results of Associates                         396           1,709
Share of Results of Jointly Controlled Entities        136             397
                                                  --------        --------
Profit before Taxation                              50,438          56,908
Income Tax Expense                                    (570)         (1,288)
                                                  --------        --------
Profit before Minority Interests                    49,868          55,620
Minority Interests                                     500            (161)
                                                  --------        --------
Net Profit for the Period                           50,368          55,459
                                                  ========        ========

The Directors hereby state that the Group's interim results for the six months ended 31st March, 2001 will be announced in accordance with the requirements set out in the Listing Agreement with The Stock Exchange of Hong Kong Limited.

By the Order of the Board
Tsai Chi Neng
Chairman

Hong Kong, 17th April, 2001

Source: Yue Yuen Industrial (Holdings) Limited

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