(Hong Kong, 2 December 2003) - Synergis Holdings Limited ("Synergis" / the "Group") (stock code: 2340), a leading provider of comprehensive property and facility management services in Hong Kong, today announced its first interim results for the six months ended 30 September 2003, following its successful listing on 9 October 2003.

During the review period, the Group achieved turnover of HK$198,336,000 (HK$111,593,000), up approximately 77.7% against the same period last year. In addition, profitability improved with profit attributable to shareholders amounting to HK$20,131,000 (HK$16,033,000), an increase of approximately 25.6%. Basic earnings per share were 8.4 HK cents (6.7 HK cents).

Professor Woo Chia-Wei, Non-executive Chairman of Synergis, said, "We are delighted to see the rewarding results recorded in the first six months of our fiscal year. The continuous growth demonstrates our leading position in the property and facility management industry. To reward our shareholders for their support, we have recommended an interim dividend of 2 HK cents per share for the six months ended 30 September 2003."

In the wake of the Severe Acute Respiratory Syndrome ("SARS") epidemic and the negative publicity received by some of the industry's players, there is a heightened awareness of the importance of quality management companies and the influence they can have on the quality of daily life and the work environment. Backed by its experience and expertise as well as its financial strengths, Synergis has been able to capitalize on this golden opportunity, increasing the number of properties and facility under its management from 170 projects as at 31 March 2003 to 191 projects in the six months to 30 September 2003.

"A memorable achievement during the period under review was our success in securing all four Property Service Contracts issued by the Hong Kong Housing Authority (the "Housing Authority") under its 'Batch 7' tender, with an aggregate value of approximately HK$361,000,000. This has further allowed us to strengthen our leading market position," Mr. C. H. Fan, Managing Director of Synergis said.

With the award of these 'Batch 7' contracts, the Group's overall contract mix has shifted from a ratio of 85% Lump Sum contracts:15% Manager Remuneration contracts as of 31 March 2003 to 92% Lump Sum contracts:8% Manager Remuneration contracts as of 30 September 2003.

During the period under review, Synergis successfully launched a new brand with a distinctive corporate identity, ensuring better communication of its value proposition to customers and the community. Coupled with its significant investment in technology infrastructure, employee training and its development programs, Synergis' operations will become more scaleable and even more responsive to market changes, enabling Synergis to provide higher value generating services and products to customers.

Mr. Fan continued, "Our corporate philosophy and commitment, to become 'The benchmark for the property and facility management industries in Asia' has proven to be highly successful. To capitalize on our unrivalled edge, we have developed the Synergis Environment Hygiene Management System which was launched in October 2003 after a review of our processes due to the outbreak of SARS. This system is the first-of-its-kind hygiene management system developed by a Hong Kong property management company. It focuses on a more holistic approach to hygiene management versus the traditional emphasis on cleaning alone."

The management is also proud to report that Synergis has once again been elected as the "Best Property Management Company" by the Housing Authority, an award it has won for ten consecutive years since 1994. It also received the 2003 FAME Award, granted by Hong King Institute of Facility Management, demonstrating the Group's outstanding capabilities in facility management.

As the 2003 policy address of the Housing, Planning and Land Bureau specifically stated, the Government intends to continue exploring "further opportunities for outsourcing the Housing Authority's services" as one of its on-going initiatives. The Group believes it will continue to benefit from this outsourcing policy of the Government.

Apart from growing outsourcing trends in both the private and public sector, the Home Affairs Bureau has initiated a review of the Building Management Ordinance (the "BMO"), aiming at facilitating incorporated owners' corporations in the performance of their duties and exercise of powers and to afford better protection for the interests of building owners, while the Government also aim at facilitating private building owners in the better management and maintenance of their properties. "There will be more opportunities for independent management companies, such as Synergis, to compete with services providers closely associated with developers for large scale property developments in the private sector, if the proposed amendments to the BMO are passed," Mr. Fan added.

Having secured an established position in the industry, Synergis is committed to riding the potential in facility management in the PRC market, the undeniably huge potential market. Apart from its business establishment in Beijing, Guangzhou and Shenzhen in the first quarter of 2003, the Group recently entered a joint-venture agreement with a subsidiary of Shui On Holdings Limited ("Shui On") to set up an operation for Synergis to exclusively provide property and facility management and related services to the properties developed by Shui On in Shanghai (excluding Xintiandi). "With this new joint venture in Shanghai, together with our existing foothold in Beijing, Guangzhou and Shenzhen, we strongly believe that we are well positioned for future growth in the PRC market," said Mr. Fan.

"In October, towards the end of the first half of the year, the Group was successfully listed on the Stock Exchange of Hong Kong, marking a major milestone in its development," concluded Mr. Fan. "It is Synergis' mission to be 'The benchmark of the property and facility management industries in Asia'. Benefiting from the growing demand for proven expertise and with our track record in Hong Kong and the PRC, together with our well-established business processes and management model, quality services and leading brand name supported by over 25 years of service, we are confident we will maintain stable growth in the second half and achieve our targeted profit for the full year."