– Interim results for the six months period ended 30 June 2003

Highlights

• Turnover: HK$613.6 million (2002: HK$669.9 million; down by 8 %)
• Net profit: HK$ 34.0 million (2002: HK$90.1 million; down by 62 %)
• Earnings per share: HK2.18 cents (2002: HK5.19 cents; down by 58 %)
• Interim dividend distribution per share: HK 2 cents

(Hong Kong, September 5, 2003) – SCMP Group Limited (SEHK: 583) ("the Group") today announced its interim results for the six months ended June 30, 2003.

Turnover for the first six months of the year was HK$ 613.6 million and net profit was HK$34.0 million, which included a charge of HK$8.5 million for the impact of a change in accounting standard and an increase in corporate tax rate relating to deferred tax and HK$10.9 million for office relocation and reorganisation expenses.

The Group’s consolidated revenue decreased by 8 % compared with the same period last year. The SARS outbreak in March had a material adverse impact on the Group’s core business of newspapers and magazines publishing. Advertising revenue for the newspaper division was down 19 %. Despite several cost saving measures implemented during the period, EBITDA decreased by 14 % to HK$109.4 million.

Operating costs before depreciation decreased by 7 % to HK$504.2 million, as a result of a reduction in headcount, lower newsprint costs, rental reduction from the disposal of a subsidiary and a cutback in advertising and promotion expenses. Staff costs were down 12% due to headcount reductions, a temporary salary reduction program, and the sale of non-core businesses. As at June 30, 2003, the Group had 1,262 employees compared to 1,293 as at December 31, 2002 and 1,321 as at June 30, 2002. Newsprint cost and usage were lower by 23% and 10%, respectively. Rental and utilities also decreased by 14% as a result of the sale of non-core businesses.

The Board declared an interim dividend distribution of HK 2 cents per share.

Commenting on the business prospects ahead, Kuok Khoon Ean, Chairman of the Group said, "Whilst there are signs of recovery from SARS boosted in part by the Government economic stimulus package, unemployment continues to rise to record levels and deflationary pressures continue to affect some sectors. Against this backdrop, advertising and circulation sales have improved but the pace and strength of such recovery remain uncertain.

Our long-term focus remains unchanged: delivering quality content that is relevant to our readers, offering an enhanced ability to serve our customers, and making strategic investments to enhance the value of our existing assets and extend our brand. We will continue with these initiatives, combined with strong financial discipline, to position our businesses for growth as we enter our centenary year."

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About SCMP Group Limited

SCMP Group Limited is the holding company of South China Morning Post Publishers Limited, publisher of Hong Kong’s leading English language newspapers South China Morning Post and Sunday Morning Post. SCMP Group is also involved in magazines and books publishing, retailing, commercial and business video and film post-production and investments. The Group’s shares are listed on The Stock Exchange of Hong Kong Limited.

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For media enquiry, please contact:

Prudence Lai
Public Relations Manager
Marketing and Communications
SCMP Group Limited
Tel: (852) 2565 2415
Fax: (852) 2565 2429
Email: communications@scmp.com

Hong Kong, August 14, 2003 – The Chief Secretary for Administration of the Hong Kong SAR Government, Hon Donald Tsang, GBM, JP, will deliver the keynote address at a conference entitled "Getting serious about people: Capitalising on talent in Greater China".

The conference will be held at the Hong Kong Convention & Exhibition Centre on September 29, 2003 from 9:15am – 4:30pm. The one-day conference will give speakers and attendees the opportunity to hear and participate in discussions about the implications of the recent population policy on building a quality talent pool in Greater China.

Some of the speakers include CEO, Greater China and Director, Standard Chartered Bank Mr. Peter Wong; Vice Chairman and President, China Resources (Holdings) Co Ltd Mr. Frank Ning; Chairman & Chief Executive, Giordano Mr. Peter Lau; President, East and South Asia Group, Coca-Cola Asia Mr. Patrick Siewert; General Manager, North Asia, PeopleSoft Mr. Rob Wells; Partner, HR Practices, KPMG Ms Irene Heffernan Ho; and Vice President, Asia-Pacific, Business Development, Watson Wyatt Worldwide Ms Paula DeLisle.

South China Morning Post presents the conference, in conjunction with Classified Post and the American Chamber of Commerce in Hong Kong. It is organised by SCMP Conferences and sponsored by PeopleSoft.

The admission fee for this conference is HK$1,500 per person. If you are interested, please contact Adeline Lim at (852) 2565 2420 for registration or visit www.conferences.scmp.com. If you are an AmCham member, please register directly with Mimi Shih at (852) 2530 6918.

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About South China Morning Post Publishers Limited

South China Morning Post Publishers Limited publishes the South China Morning Post and the Sunday Morning Post, the premier English language daily and Sunday newspapers with the highest circulation and readership of any English language newspaper in Hong Kong. The South China Morning Post is a leading commentator on Greater China and is read widely by government officials, business people, professionals and academics globally. Its Classified Post is also the market leader for recruitment advertising in Hong Kong. Through its subscription-based online service, SCMP.com, global audience is offered access to unrivalled, independent, local news coverage and in-depth analysis of Greater China. The Company is a wholly-owned subsidiary of SCMP Group Limited whose shares are listed on The Stock Exchange of Hong Kong Limited.

###

For media enquiry, please contact:

Prudence Lai
Public Relations Manager
Marketing and Communications
South China Morning Post Publishers Limited
Tel: (852) 2565 2415
Fax: (852) 2565 2429
Email: communications@scmp.com

For further information about the conference, please contact:
Adeline Lim
Senior Conference Manager
Marketing and Communications
South China Morning Post Publishers Limited
Tel: (852) 2565 2420
Email: adeline.lim@scmp.com

Hong Kong, February 17, 2003 – SCMP Group is pleased to announce the appointment of David Armstrong as Group Editor-in-Chief, with effect from April 1, 2003.

Mr Armstrong will oversee and supervise the Editorial Division of the South China Morning Post and the Sunday Morning Post, and will be involved in developing SCMP Group’s publishing initiatives in this region.

Mr Armstrong joined the South China Morning Post in 1993 as editor and was promoted to editor-in-chief in 1994. Two years later, he returned to Sydney to take up the position of editor-in-chief of Australia’s national daily newspaper, The Australian, where he has been since.

Mr Armstrong has had a very successful career as a journalist, editor and media manager. He was editor of Australia’s The Canberra Times and The Bulletin, and deputy editor of The Daily Telegraph in Sydney.

About SCMP Group Limited

SCMP Group Limited is the holding company of South China Morning Post Publishers Limited, Hong Kong’s leading publisher of English language newspapers (South China Morning Post and Sunday Morning Post), and, through other Group companies, is involved in the publication of magazines, retailing, commercial and business video production and property investments. The Group’s shares are listed on The Stock Exchange of Hong Kong Limited.

Contact:

Prudence Lai
Corporate Communications Department
SCMP Group Limited
Tel: (852) 2565 2415
Fax: (852) 2565 2429
Email: prudence.lai@scmp.com

Hong Kong, November 11, 2004 – “Hong Kong Port: Does it have a future?” is the third in the highly successful series of business and economic policy seminars jointly organised by the South China Morning Post and the University of Hong Kong and sponsored by Citigroup. The half day seminar, to be held at the Conrad Hotel on Tuesday, November 23, 2004 from 8:30am – 12:00 noon, will gather experts from government, academia and the private sector to share their views on this topic.

The seminar aims to identify and debate the issues Hong Kong port is facing against lower cost facilities across the border; the impact of the highest terminal handling charges in the region and the artificially high cost of trucking goods from South China by a restrictive regulatory regime; as well as discussing strategies that could be used and plans the Government could implement to increase competitiveness of the port.

Confirmed speakers include:

• Mr Russell Barling, Transport and Logistics Correspondent, South China Morning Post;
• Mr Jonathan Beard, Managing Director, GHK Consultants;
• Mr Raymond Fan, Deputy Secretary for Economic Development and Labour (Economic Development) 3, Economic Development and Labour Bureau, Government of HKSAR;
• Mr Mohd Sidik Shaik Osman, CEO of the Port of Tanjung Pelepas;
• Mr Charles de Trenck, Director, Head of Regional Transport, Citigroup Smith Barney; and
• Professor Y.C.Richard Wong, Deputy Vice-Chancellor and Acting Dean of the Faculty of Business and Economics, The University of Hong Kong

This series of seminars will extend into 2005 with more hot topics to come. The next seminar in the series "Monetary Policy" will kick off early 2005.

Enrolment fee for the seminar is HK$360 per person and a group discount of 20% off will be offered to any company that reserves two seats or more. Interested parties please contact Sandy Ng at (852)2250 3129 for registration or visit http://conferences.scmp.com.

-End-

About South China Morning Post Publishers Limited

The company publishes the South China Morning Post and the Sunday Morning Post, Asia’s premier English language daily and Sunday newspapers with the highest circulation of any English language newspaper in Hong Kong. The South China Morning Post, with 100 years of history, is a leading commentator on Greater China and is widely read by government officials, business people, professionals and academics. According to the AC Nielsen Media Index 2004 Mid-Year Report, the South China Morning Post has 96% of the English language newspaper readership in Hong Kong. It is also the market leader for display and recruitment advertising in Hong Kong. Its Internet edition, SCMP.com, is an award-winning subscription-based Web site which offers a global audience access to the editorial content of the print edition, breaking news updates throughout the day, e-newsletters and news on PDA. The South China Morning Post receives constant recognition for its editorial and technical capability. Awards won include three excellence design awards from 25th Best of Newspaper Design Competition and Hong Kong News Awards 2003 for Best News Writing, Best Business Writing, Best Headline and Best Sports Photography.

South China Morning Post Publishers Limited is a wholly-owned subsidiary of SCMP Group Limited. Through other subsidiaries, SCMP Group Limited is also involved in the publication of magazines, commercial and business video production and property investments. SCMP Group’s shares are listed on The Stock Exchange of Hong Kong Limited.

For media enquiry, please contact:

Prudence Lai
Marketing and Communications Manager
South China Morning Post Publishers Limited
Tel: (852) 2565 2415
Fax: (852) 2565 2429
Email: communications@scmp.com

Hong Kong, November 1, 2004 – South China Morning Post and The Hong Kong General Chamber of Commerce are joining hands again to host a conference titled “Evolution, Enhancement and Expansion – The Delta within the Pan-PRD” which kicks off today in Zhongshan. The conference builds on the success achieved in the last two years, which clearly shows the industry’s thirst for more information about the Pearl River Delta, and highlights the need to bring the two business communities physically closer. This year, in view of the growing interest in the Pan-PRD, the conference’s theme focuses on exploring the PRD’s role within the Pan-PRD.

The Third PRD Conference is customized to provide a practical approach to how businesses-be it SMEs, MNCs, or locally-owned corporations-in Hong Kong and China can actualize the benefits of the Pearl River Delta and use it as a base to expand into the Pan-PRD. Sessions cover the following topics: (1) Hong Kong as the financial services hub; (2) manufacturing options in the Pan-PRD; (3) PRD as a tourism destination; (4) airports, logistics and transportation industry developments; (5) the evolving industrial structure, and (6) retailing in the Pan-PRD.

Mr Chen Genkai, Mayor of Zhongshan and the Honourable John Tsang, Secretary for Commerce, Industry and Technology of HKSAR attend the conference today to deliver welcome remarks and luncheon keynote speech respectively. Some other speakers include:

• João Manuel Costa Antunes, Director, Macau Government Tourist Office
• Howard Eng, Airport Management Director, Airport Authority Hong Kong
• The Hon Timothy Fok, Legislative Councilor and President, Sports Federation & Olympic Committee of Hong Kong, China
• Dr Victor Fung, Chairman, Greater Pearl River Delta Business Council
• Xie Pengfei, Deputy Director-General of the People’s Government of Guangdong Province, and Director of the Center for Development Research of the People’s Government of Guangdong Province
• Huang Weiguo, Vice Mayor, Foshan
• Xian Wen, Vice Mayor, Zhuhai
• Sir Gordon Wu, Chairman, Hopewell Holdings

The conference again, is jointly presented by South China Morning Post and Hong Kong General Chamber of Commerce, organised by SCMP Conferences and in association with 21st Century Business Herald. Supporting Organization is China Council for the Promotion of International Trade (CCPIT) Guangdong Sub-Council, and sponsors of the conference include I-On Asia Limited and Shangri-La Hotel Zhongshan, China.

Conference information is available at http://conferences.scmp.com.

-End-

About South China Morning Post Publishers Limited

The company publishes the South China Morning Post and the Sunday Morning Post, Asia’s premier English language daily and Sunday newspapers with the highest circulation of any English language newspaper in Hong Kong. The South China Morning Post, with 100 years of history, is a leading commentator on Greater China and is widely read by government officials, business people, professionals and academics. According to the AC Nielsen Media Index 2004 Mid-Year Report, the South China Morning Post has 96% of the English language newspaper readership in Hong Kong. It is also the market leader for display and recruitment advertising in Hong Kong. Its Internet edition, SCMP.com, is an award-winning subscription-based Web site which offers a global audience access to the editorial content of the print edition, breaking news updates throughout the day, e-newsletters and news on PDA. The South China Morning Post receives constant recognition for its editorial and technical capability. Awards won include three excellence design awards from 25th Best of Newspaper Design Competition and Hong Kong News Awards 2003 for Best News Writing, Best Business Writing, Best Headline and Best Sports Photography.

South China Morning Post Publishers Limited is a wholly-owned subsidiary of SCMP Group Limited. Through other subsidiaries, SCMP Group Limited is also involved in the publication of magazines, commercial and business video production and property investments. SCMP Group’s shares are listed on The Stock Exchange of Hong Kong Limited.

For media enquiry, please contact:

Prudence Lai
Public Relations Manager
South China Morning Post Publishers Limited
Tel: (852) 2565 2415
Fax: (852) 2565 2429
Email: communications@scmp.com

Hong Kong, October 5, 2004 – Following the success of the first seminar on “Airport Privatisation”, the second in the series on “Securitisation – will it work in Hong Kong” will be held at Conrad Hotel on Thursday, October 14, 2004 from 8:30am – 12:00 noon. It will gather the industry’s foremost experts to share their views on the topic.

The seminar will identify the benefits Hong Kong could expect to gain from the securitisation programme, the politics of it, the parties involved in the execution and the constraints for the government on such issue.

Launched by the Faculty of Business and Economics of the University of Hong Kong and the South China Morning Post and sponsored by Citigroup, this series of seminars will extend into 2005 with more topics to come.

Some other speakers include:

• Mr. Jerome Cheng, Vice President/ Senior Credit Officer, Moody’s Structured Finance Group;
• Mr. Leland Sun, Managing Director, Pan Asian Mortgage Co. Ltd.;
• Mr. Louis Beckerling, Banking Correspondent, South China Morning Post;
• Dr. K. S. Maurice Tse, Associate Dean, Faculty of Business & Economics and Director of MBA Programmes, the University of Hong Kong;
• Mr. Raymond Chen, Director, Global Securitized Markets – Asia Pacific, Citigroup;
• Mr. Tommy Yuen, Principal Assistant Secretary for Financial Services and the Treasury (Treasury), Financial Services and the Treasury Bureau, The Government of HKSAR; and
• Mr. Vinod Kothari, Author, trainer and expert on securitisation, asset-based finance, credit derivatives and derivatives accounting

The next seminar in the series will focus on “Ports in Hong Kong”.

Enrolment fee for the seminar is HK$360 per person and a group discount of 20% off will be offered to any company that reserves two seats or more. Interested parties please contact Sandy Ng at (852) 2250 3129 for registration or visit http://conferences.scmp.com.

-End-

About South China Morning Post Publishers Limited

South China Morning Post Publishers Limited publishes the South China Morning Post and the Sunday Morning Post, the premier English language daily and Sunday newspapers with the highest circulation and readership of any English language newspaper in Hong Kong. The South China Morning Post, with its first edition published in 1903, is a leading commentator on Greater China and is read widely by government officials, business people, professionals and academics. It is also the market leader for display and recruitment advertising in Hong Kong. Through its subscription-based online service, SCMP.com, a global audience is offered access to unrivalled, independent, local news coverage and in-depth analysis of Greater China. The Company is a wholly-owned subsidiary of SCMP Group Limited whose shares are listed on The Stock Exchange of Hong Kong Limited.

For media enquiry, please contact:

Prudence Lai
Public Relations Manager
South China Morning Post Publishers Limited
Tel: (852) 2565 2415
Fax: (852) 2565 2429
Email: communications@scmp.com

First in the Series – “Airport Privatisation”

Hong Kong, September 9, 2004 – The Faculty of Business and Economics at the University of Hong Kong and the South China Morning Post are launching a brand new series of Business and Economic Policy Seminars, sponsored by Citigroup, beginning in September and extending into 2005.

The series will identify key business-related public policy issues, deepen people’s understanding of them, raise awareness on all sides of the debate, and help to form meaningful policy and business implications for informed action.

The first seminar in the series on “Airport Privatisation” will be held at Conrad Hotel on Wednesday, September 15, 2004 from 9:00am – 12:00 noon. It will gather the airport industry’s foremost experts to share their views on the benefits and impact of airport privatisation.

Seminar speakers include:

• Mr. Colin Campbell, Global Transportation and Infrastructure Investment Banking Director, Citigroup;
• Mr. David Armstrong, Group Editor-in-Chief, South China Morning Post;
• Mr. Gilbert Chow, Vice Chairman, Board of Airline Representatives;
• Mr. Howard Eng, Airport Management Director, Airport Authority Hong Kong;
• Mr. Jeffrey Shafer, Vice Chairman and Asia Regional Head of Public Sector Client Group, Citigroup Global Corporate and Investment Banking Group;
• Ms. Kerrie Mather, Chief Executive Officer, Macquarie Airports;
• Mr. Kok Chwee Sim, Director, Pacific Asia Travel Association;
• Professor Richard, Acting Dean of Faculty of Business and Economics, The University of Hong Kong;
• Mr. Russell Barling, Transport and Logistics Correspondent, South China Morning Post;
• Dr. Stephen Ching, Associate Professor of School of Economics and Finance, The University of Hong Kong;
• Mr. Wilson Fung, Deputy Secretary for Economic Development and Labour (Economic Development), The HKSARG Economic Development and Labour Bureau;
• Mr. Y.K. Leung, Deputy Director-General of Civil Aviation ,Civil Aviation Department of Hong Kong

The following two seminars in the series will focus on “Securitisation of Toll Roads and Tunnels” and “Competing Ports Development within a Key Transportation Hub”.

Enrolment fee for the seminar is HK$300 per person and a group discount of 20% off will be offered to any company that reserves two seats or more. Interested parties please contact Sandy Ng at (852) 2250 3129 for registration or visit http://conferences.scmp.com.

-End-

About South China Morning Post Publishers Limited

South China Morning Post Publishers Limited publishes the South China Morning Post and the Sunday Morning Post, the premier English language daily and Sunday newspapers with the highest circulation and readership of any English language newspaper in Hong Kong. The South China Morning Post, with its first edition published in 1903, is a leading commentator on Greater China and is read widely by government officials, business people, professionals and academics. It is also the market leader for display and recruitment advertising in Hong Kong. Through its subscription-based online service, SCMP.com, a global audience is offered access to unrivalled, independent, local news coverage and in-depth analysis of Greater China. The Company is a wholly-owned subsidiary of SCMP Group Limited whose shares are listed on The Stock Exchange of Hong Kong Limited.

For media enquiry, please contact:

Prudence Lai
Marketing and Communications Manager
South China Morning Post Publishers Limited
Tel: (852) 2565 2415
Fax: (852) 2565 2429
Email: communications@scmp.com

Highlights

• Turnover: HK$697.6 million (2003: HK$613.6 million; up by 14%)
• Operating profit: HK$136.5 million (2003: HK$60.4 million; up by 126%)
• Profit attributable to shareholders: HK$111.4 million (2003: HK$34 million; up by 228%)
• Earnings per share: HK 7.14 cents (2003: HK 2.18 cents; up by 228%)
• Interim dividend distribution per share: HK 5 cents (2003: HK 2 cents; up by 150%)

Hong Kong, September 6, 2004 – SCMP Group Limited (SEHK: 583) ("the Group") today announced its interim results for the six months ended June 30, 2004.

The operating results of the Group improved significantly compared with performance during the same period in 2003 when a weak economy and the outbreak of Sars adversely affected Hong Kong and the business of the Group. Turnover was $697.6 million, a 14% increase over the same period last year. Profit attributable to shareholders amounted to HK$111.4 million or HK$7.14 cents per share, 228% higher compared with the same period last year.

The Board declared an interim dividend distribution of HK 5 cents per share.

Operating costs and expenses rose slightly by 4% because of higher newsprint prices, advertising and promotion, and depreciation charges. Newsprint cost and usage increased by 7% and 23%, respectively. The Group spent more on advertising and promotions to drive circulation and to launch a new magazine in Hong Kong.

The publishing business recovered strongly led by the growth in advertising spending. Newspaper publishing revenue grew 32% while magazine publishing revenue grew 39%. In comparison, total ad spending across all media in Hong Kong grew 22% over the same period. The publishing business contributed 67% of total revenue and 93% of the operating profit of the Group.

The Hong Kong economy is expected to continue to grow, creating a favourable operating environment for the business of the Group. A recovery in consumer spending and stable unemployment rates will support further improvements in advertising income.

-End-

About SCMP Group Limited

SCMP Group Limited is the holding company of South China Morning Post Publishers Limited, publisher of Hong Kong’s leading English language newspapers South China Morning Post and Sunday Morning Post, and other publishing subsidiaries. The Group’s core business is newspaper and magazine publishing. It also holds interests in retailing and other businesses and investments. The Group’s shares are listed on The Stock Exchange of Hong Kong Limited.

For media enquiry, please contact:

Prudence Lai
Manager
Marketing and Communications
SCMP Group Limited
Tel: (852) 2565 2415
Fax: (852) 2565 2429
Email: communications@scmp.com

MAXIM – THE WORLD’S #1 SELLING MEN’S MAGAZINE – LAUNCHES IN HONG KONG WITH SCMP GROUP AND UK BASED DENNIS PUBLISHING LTD

MAXIM, the magazine that investment bankers are five times more likely to read than Business Week* is set to launch this week in Hong Kong under a partnership between Dennis Publishing Ltd of the UK and the SCMP Group.

First launched in the UK in 1995, MAXIM now boasts a network of 21 editions in 32 countries, and a global circulation of 3.9million. The monthly title will launch in Hong Kong on 1st April, priced at HK$35, and in China shortly priced at RMB20.

Director of SCMP Consumer Magazines Angie Wong said, "The time is right for MAXIM. We are convinced that its unique editorial formula and strong brand recognition will make it an instant hit."

This editorial formula includes an irreverent but down-to-earth tone coupled with genuinely useful information on everything from cars, girls, gear and gadgets, to sport and entertainment, food and drink, travel and sex. And all combined with MAXIM’s drop-dead gorgeous production values.

The key to success, says Wong, is that MAXIM defines a very special time in a guy’s life. "This is the time when everything – career, relationships, partying – all comes together. It’s the time when a man knows what he wants, and has the cash to make it happen. He is as likely to hang out with friends and be admired for his wit and way with girls as his career choice and taste in clothes."

Aimed at a 23-35 year old affluent male audience, the Hong Kong edition of MAXIM will be supported with three months of promotional activity. Concentrating on out-of-home media, ads will debut on the MTR, billboards, bus-bodies and bus-shelters. There will also be a print campaign in selected daily and weekly press. Below the line, an on-pack premium will drive news-stand sales expected to reach 40,000, while there will be a glamorous launch party at Aqua, Number 1 Peking Road on Thursday, with expected attendance topping 300 clients and celebrities.

Meanwhile in China details of a local publishing partner are soon to be released and plans are well advanced for a launch in 32 cities nationwide with a projected circulation of 120,000. Aimed squarely at the market for "Young Bucks" MAXIM China hopes to take advantage of the dramatic social changes underway across the mainland. These changes have resulted in a scarcity of relevant reading for a whole generation of better-educated, later-marrying, success-driven professionals who are looking ahead and want information to guide them in their consumer and lifestyle choices.

About SCMP Group Limited

SCMP Group Limited is the holding company of South China Morning Post Publishers Limited, publisher of Hong Kong’s leading English language newspapers in addition to SCMP Magazines and SCMP Book. The Group’s core business is newspaper and magazine publishing, with a stable of titles including South China Morning Post, Sunday Morning Post, Cosmopolitan, Cosmo Girl!, Harpers Bazaar and Automobile. SCMP Group Limited also holds interests in retailing and other businesses and investments. The Group’s shares are listed on The Stock Exchange of Hong Kong Limited.

For media enquiry, please contact:

Amanda Turnbull
Director
Marketing and Communications
SCMP Group Limited
Tel: (852) 2250 3130
Fax: (852) 2565 2429
Email: communications@scmp.com

(* according to Fortune 500 CEO’s)

Highlights

• Turnover: $ 1,280 million
• Net profit: $ 1.8 million
• Net profit before revaluation deficit: $113.8 million
• Earnings per share: HK 0.11 cents
• Earnings per share before revaluation deficit: HK 7.29 cents
• Final dividend distribution per share: HK 4.00 cents
• Total dividend distribution per share for the year: HK 6.00 cents

(Hong Kong, March 30, 2004) – SCMP Group Limited (SEHK: 583) ("the Group") today announced its final results for the year ended December 31, 2003.

Turnover for the year was $1,280 million and net profit was $ 1.8 million, which included a provision of $112 million for revaluation deficit in investment properties. Excluding the revaluation deficit, net profit amounted to $113.8 million or HK 7.29 cents per share.

The Group’s total revenue declined 6% on continued economic weakness made worse by the outbreak of SARS. In response to the business downturn, we implemented several cost saving measures. As a result, operating costs decreased by 7%. Rental and utilities decreased by 15%. Staff costs declined by 12% and headcount was down 4% to 1,247. Cost of production and sales was down 4% primarily due to lower newsprint cost and usage. Advertising and promotion expenses declined 51%.

Besides the revaluation deficit, the Group’s reported earnings included charges for office relocation expenses of $10.9 million and charges due to changes in accounting standard for deferred tax of $8.5 million.

The Board declared a final dividend distribution of HK 4 cents per share. Together with the interim dividend distribution of HK 2 cents already paid out, dividend distributions for the year totaled HK 6 cents, representing a payout of 82% of net profit before revaluation deficit in 2003.

Commenting on the results and business prospects ahead, Mr. Kuok Khoon Ean, Chairman of the SCMP Group, said, "2003 turned out to be one of the most unpredictable and difficult years in decades for our Company and our clients. In the same year that we faced the unprecedented challenges of SARS, we also recorded an extraordinary moment in the Company’s history. In November 2003, we celebrated the centenary of our flagship publication, the South China Morning Post.

Over the last century, much has changed and much has been accomplished. We look forward to the next year and beyond with a renewed sense of purpose and confidence. Although we cannot control the external forces that shape our operating environment, we can control how we manage our business and execute our strategy. The SCMP Group’s emphasis for 2004 is on profitable market share and operating discipline.

Our long-term focus remains unchanged: delivering relevant content to our readers, offering new platforms and enhancing our ability to serve our advertisers, and making strategic investments to enhance the value of our existing assets or extend our brand. These strategies combined with strong financial discipline place us in a strong position to pursue opportunities for growth as they arise."

-End-

About South China Morning Post Publishers Limited

SCMP Group Limited is the holding company of South China Morning Post Publishers Limited, publisher of Hong Kong’s leading English language newspapers South China Morning Post and Sunday Morning Post, and other publishing subsidiaries. The Group’s core business is newspaper and magazine publishing. It also holds interests in retailing and other businesses and investments. The Group’s shares are listed on The Stock Exchange of Hong Kong Limited.

For media enquiry, please contact:

Amanda Turnbull
Director
Marketing and Communications
SCMP Group Limited
Tel: (852) 2250 3130
Fax: (852) 2565 2429
Email: communications@scmp.com