SINO LAND<0083> - Results Announcement

Sino Land Company Limited announced on 21/9/1999:
(stock code: 83)
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

Turnover/Interest Income                 : 1,795,466,115    6,545,149,490
Profit-Continuing Operations
    - Operating Profit/(Loss)            : 378,174,921      2,398,223,070
    - Exceptional Items                  : 496,367,219      (512,636,935)
    - Discontinued Operations            : -                -
Total Operating Profit/(Loss)            : 874,542,140      1,885,586,135
Share of Profit/(Loss) of
  Associated Companies                   : 706,979,696      (634,106,741)
Profit/(Loss) after Tax & MI             : 1,454,096,923    908,685,620
% Change over Last Period                : +60%
EPS/(LPS)-Basic                          : 45.6 cents       29.7 cents
         -Diluted                        : 45.5 cents       29.7 cents
Extraordinary (ETD) Gain/(Loss)          : -                -
Profit/(Loss) after ETD Items            : 1,454,096,923    908,685,620
Final Dividend per Share                 : 5 cents          3 cents
(Specify if with other options)          : (with option to (with option 
                                           elect shares)    to elect 
                                                            shares)
B/C Dates for Final Dividend             : 12/11/1999 to 18/11/1999 bdi.
Payable Date                             : 20/12/1999
B/C Dates for (-) General Meeting        : N/A
Other Distribution for Current Period    : N/A
B/C Dates for Other Distribution         : N/A

Remarks:

(1) Earnings per share

The calculation of basic and diluted earnings per share
is based on the following data:
                                                 1999           1998
                                                  HK$            HK$
Earnings for the purposes of basic earnings
 per share                                   1,454,096,923   908,685,620
Effect of dilutive potential ordinary shares:
 Interest on convertible bonds                   1,260,998     1,260,998
                                           ---------------- -------------
Earnings for the purposes of diluted 
 earnings per share                          1,455,357,921   909,946,618
                                             =============   ===========

Weighted average number of ordinary shares
 for the purposes of basic earnings per share 3,190,157,508  3,057,466,262

Effect of dilutive potential ordinary shares:
 Warrant                                           -               4,038
 Convertible bonds                             5,267,325       5,267,325
                                             ------------    -----------
Weighted average number of ordinary shares
 for the purposes of diluted earnings per 
 shares                                      3,195,424,833  3,062,737,625
                                             =============  =============

(2) Exceptional items:
                                                 1999           1998
                                                  HK$            HK$
(Loss)/profit on disposal of long-term listed
 investments                                 (28,281,585)   (562,968,878)
Profits arising from the repurchase and
 subsequent cancellation of convertible bonds  61,139,610      50,331,943
Profit on disposal of investment properties   463,509,194         -
                                             ------------- --------------
                                              496,367,219   (512,636,935)
                                               =========    =============