@ Giordano International Limited @ @ @ @ @ @ @ @ @ @
@ Operation Highlights (unaudited) @ @ @ @ @ @ @ @ @ @ @
@ Year-on-year changes for the three months ended March 31, 2006 except otherwise stated @ @ @ @
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@ Group @ Retail & Distribution @ Trading & Manufacturing @ Group (1) @ @
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@ By Division @ 3 Months Ended Mar 31, 2006 12 Months Ended Dec 31, 2005 @ 3 Months Ended Mar 31, 2006 12 Months Ended Dec 31, 2005 @ 3 Months Ended Mar 31, 2006 12 Months Ended Dec 31, 2005 @ @ @ @
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@ Year-to Date Turnover Increase / Decrease @ -6% 7% @ -9% 56% @ -7% 10% @ @ @ @
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@ Retail & Distribution @ Year-to-date Turnover Increase / Decrease @ Comparable Store Year-to-date Turnover Increase / Decrease (2) @ Number of Outlets @ @
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@ @ @ @ 3 Months Ended Mar 31, 2006 12 Months Ended Dec 31, 2005 @ 3 Months Ended Mar 31, 2006 12 Months Ended Dec 31, 2005 @ As at Mar 31, 2006 As at Dec 31, 2005 @ @ @ @
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@ By Major Markets @ @ @ @ @ @ @ @ @ @ @ @ @
@ Mainland China @ -2% 4% @ 3% 6% @ 710 706 @ @ @ @
@ Hong Kong @ 1% 7% @ 3% 4% @ 101 101 @ @ @ @
@ Taiwan @ -25% 4% @ -23% -6% @ 232 237 @ @ @ @
@ Singapore @ -8% 3% @ -15% -1% @ 48 48 @ @ @ @
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@ By Brands @ @ @ @ @ @ @ @ @ @ @ @ @
@ Giordano and Giordano Junior @ -7% 7% @ -10% -1% @ 1,516 1,527 @ @ @ @
@ Giordano Ladies @ 13% 13% @ 8% 3% @ 28 27 @ @ @ @
@ Blue Star Exchange @ -7% 6% @ -5% -3% @ 140 140 @ @ @ @
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@ Retail & Distribution Total @ -6% 7% @ -9% -1% @ 1,684 1,694 @ @ @ @
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@ Notes: @ @ @ @ @ @ @ @ @ @ @ @ @
@ (1) Group figures include both the Trading & Manufacturing and the Retail & Distribution divisions. @ @ @ @ @
@ (2) Inclusive of outlets operating for the full 3 and 12 months in the periods under comparison. @ @ @ @ @
@ (3) Group gross margin for YTD March 2006 was 48.1% (YTD March 2005: 49.9%). @ @ @ @ @ @ @
@ (4) Group inventory turnover days on sales for YTD March 2006 was 32 days (YTD March 2005:  28 days).  @ @ @ @
@ (5) On March 31, 2006, the Group had approximately HK$845 million in net cash and bank balances. @ @ @ @ @
@ (6) In Korea, sales decreased by 8% YOY in the 3 months ended March 31, 2006, compared to a 11% YOY @ @ @ @
@ @ increase in the 12 months ended December 31, 2005. @ @ @ @ @ @ @ @ @ @
@ (7) In the Middle East, sales increased by 10% YOY in the 3 months ended March 31, 2006, compared to a 15% YOY @ @ @
@ @ increase in the 12 months ended December 31, 2005. @ @ @ @ @ @ @ @ @ @
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