Mr. Law said local retail business experienced a rapid recovery owing to a strong increase in the number of mainland visitors fuelled by the ¡§Individual Travel Scheme¡¨ and the introduction of the new RMB policies for Hong Kong (especially the launch of RMB Union Pay Card collection system by BOC. Benefited from these policies, the Group has achieved remarkable business growth in the first quarter in 2004, the turnover increased by 20%, compared to the same period last year. Also, the surge of tourists during the Golden Week of 1st May has brought a 50% increase in turnover as compared with the normal week for the Group. Looking forward, the Group plan to expand its business network to the United States and Southeast Asia in order to build up an international brand and will grasp the opportunities brought by the opening of gambling industry in Macau by developing and promoting its business in Macau with the two retail outlets there.

Chairman of Luk Fook, Mr Wong Wai Sheung said, ¡§Media exposure would enhance the brand name of the Group and reinforce the corporate image. We believe the interview would facilitate our exploration into overseas market.¡¨

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