1. 2005 Interim Results - Giordano1

2. 2 Group Financial Highlights For the Six Months Ended June 30 YOY change (%) 20052004 Turnover (HK$M)2,1521,858+ 15.8 Gross profit (HK$M)1,096929+ 18.0 EBITDA (HK$M)328293+ 11.9 Operating profit (HK$M)246233+ 5.6 Profit before tax (HK$M)261240+ 8.8 Profit attributable to shareholders (HK$M)187169+ 10.7 Earnings per share (HK cents)12.811.7+ 9.4 Interim dividend per share - basic (HK cents) - special (HK cents) 4.5 2.0 4.0 1.5 + 12.5 + 33.3 Dividend payout ratio (%)50.847.0+ 8.1

3. 2005 Interim Results - Giordano3 Selected Financial Highlights & Ratios Selected Financial Highlights & Ratios For the Six Months Ended June 30 20052004 Net cash & bank balances (HK$M)647689 * Cash inflow from operating activities (HK$M)148 Inventory turnover on sales (days)3023 Current ratio (x)2.62.4 * Gross margin (%)50.950.0 Operating margin (%)11.412.5 Net margin (%)9.410.2 * As at December 31, 2004

4. 2005 Interim Results - Giordano4 Divisional Highlights Divisional Highlights For the Six Months Ended June 30 TurnoverOperating Profit Division2005 (In HK$M) 2004 (In HK$M) YOY % Change 2005 (In HK$M) 2004 (In HK$M) YOY % Change Retail & Distribution 1,9531,739+ 12.3214199+ 7.5 Trading & Manufacturing 520405+ 28.43234- 5.9 Intra-division Elimination (321)(286)+ 12.2--- Total2,1521,858+ 15.8246233+ 5.6

5. 2005 Interim Results - Giordano5 Retail and Distribution Division For the Six Months Ended June 30, 2005 Retail and Distribution Turnover Composition by Market Mainland China 24% (24%) Hong Kong 21% (22%) Taiwan 20% (20%) Singapore 11% (11%) Malaysia 3% (4%) Others 16% (14%) Australia 5% (5%) Note: 1H04’s in brackets

6. 2005 Interim Results - Giordano6 Retail and Distribution Division (Cont’d) For the Six Months Ended June 30, 2005 Retail and Distribution Turnover Composition by Brand Giordano Ladies 4% (4%) Bluestar Exchange 9% (9%) Giordano core line + Junior 87% (87%) Note: 1H04’s in brackets

7. 2005 Interim Results - Giordano7 Retail and Distribution Division (Cont’d) For the Six Months Ended June 30, 2005 Total comparable store sales- 0.3% Total comparable store gross profit+ 2.5% Brand Statistics Giordano core line + Junior Giordano Ladies Bluestar Exchange Retail & Distribution Total 2005 Turnover (HK$ M ) 1,698841711,953 Turnover Growth ( YOY % Change) + 12.2+ 13.5+ 12.5+ 12.3 Gross Margin (YOY Basis Point Change) + 210+ 100+ 240+ 210

8. 2005 Interim Results - Giordano8 Sales (HK$M) YOY Change (%) Comp. Store Sales Chg (%) Remarks 20052004 Mainland China464420+ 10.52.0 Hong Kong412384+ 7.33.8 Taiwan391341+ 14.7(3.8) Sales increased by 8.0% in local currency terms. Singapore205195+ 5.11.3 Sales increased by 2.7% in local currency terms. Other Markets & Distribution Sales 481399+ 20.6NA GROUP TOTAL1,9531,739+ 12.3(0.3) ASP increases of 8% to 9% recorded. Net of exchange gains, sales increased by 10.6%. Korea478421+ 13.5(3.1) Sales declined by 2.4% in local currency terms. Gross profit and gross margins increased by 25.4% and 530 basis points respectively. Retail and Distribution Division (Cont’d) For the Six Months Ended June 30, 2005

9. 2005 Interim Results - Giordano9 Number of Outlets, by Region and by Brand (as at June 30) 2004 Total 2005 Total Giordano core line Giordano Ladies Giordano Junior* Bluestar Exchange Australia 3545 --- Hong Kong 8497578-32 Indonesia 395248-4- Japan 1924 --- Korea 172166129-37- Mainland China 6156766279337 Malaysia 4649 --- Middle East 7496 --- Philippines 4036 --- Singapore 45 3717- Taiwan 2112371638759 Thailand 4150 --- Others 293632--4 Total 1,4501,6091,3932658132 * Includes stand-alone outlets only

10. 2005 Interim Results - Giordano10 Trading & Manufacturing Division For the Six Months Ended June 30 20052004 YOY % change Sales including internal sales (HK$M)520405+ 28.4 Sales to external customers (HK$M)199119+ 67.2 Percentage of Retail & Distribution’s total purchase31.3%29.1%NA Operating Margin (%)6.2%8.4%NA Contribution to the Group’s operating profit13.0%14.6%NA 61.7% of divisional sales to Group companies, down from 70.6% in 1H04. Operating margin declined by 2.2% owing to start up costs servicing new clients and heightened competition.

11. 2005 Interim Results - Giordano11 Outlook Consumer sentiment continues to improve in Taiwan => We will deepen restructuring efforts Korean economy shows signs of improvements => We will enhance gross margins utilizing global sourcing strength Singaporean economy shows stable growth => We will renovate key shops to meet customer expectations Hong Kong Disneyland opening will boost tourist arrivals and local consumer sentiment => We will target Hong Kong product mix to capitalize on increased tourism Mainland China will continue to grow on the back of strong economic performance => We will take advantage of anticipated industry consolidation “Disney collection by Giordano” => We will capture new customer segment (younger crowds) in all markets