1. 3rd Quarter 2002 Results Presentation
CRA Website:
31 October 2002
A member of the Li & Fung (Retailing) Group

2. Hong Kong Retail Value Change Year-on-Year % Change
* Source – HKSAR Census and Statistics Department

3. 3rd Quarter 2002 Results Presentation Agenda
3rd Quarter 2002 Financial Results Highlights
Update & 2002 Outlook
Questions & Answers

4. 3rd Quarter 2002 Financial Results Highlights Group Turnover 3rd Quarter 2002
+ 5%
No. of Store:

5. 3rd Quarter 2002 Financial Results Highlights 121 Stores Comparable Sales
- 5%

6. 3rd Quarter 2002 Financial Results Highlights Group Turnover Sep YTD 2002
+ 6%
1,032.8
978.8
No. of Store:

7. 3rd Quarter 2002 Financial Results Highlights Group Net Profit – 3rd Quarter 2002
+ 3%

8. 3rd Quarter 2002 Financial Results Highlights Group Net Profit – Sep YTD 2002
+ 6%
52.5
49.5

9. 3rd Quarter 2002 Financial Results Highlights Net Profit as % of Sales – 3rd Quarter 2002
- 0.1%

10. 3rd Quarter 2002 Financial Results Highlights Net Profit as % of Sales – Sep YTD 2002

11. 3rd Quarter 2002 Financial Results Highlights Basic Earnings Per Share – 3rd Quarter 2002

12. 3rd Quarter 2002 Financial Results Highlights Basic Earnings Per Share – Sep YTD 2002
+ 3%
7.7
7.9

13. Why 3rd Quarter 2002 Favorable Results
Why 3rd Quarter 2002 Favorable Results? Higher Gross Margin/Other Income
+ 0.8%

14. Why 3rd Quarter 2002 Favorable Results
Why 3rd Quarter 2002 Favorable Results? Offset By Higher Expenses as % of Sales
Expenses as % of Sales 2002 vs 2001
Store Operating Expenses (0.7%) Higher
China Start-up Expenses (0.1%) Higher

15. 3rd Quarter 2002 Financial Results Highlights
3rd Qtr rd Qtr 2002
Group Turnover (HK$ Million) %
Group Net Profit (HK$ Million) %
Net profit as % of Sales 5.8% 5.7% - 0.1%
Basic Earnings Per Store 3.1 Cents 3.1 Cents -

16. Sep YTD 2002 Financial Results Highlights
Sep YTD 2001 Sep YTD 2002
Group Turnover (HK$ Million) , %
Group Net Profit (HK$ Million) %
Net profit as % of Sales 5.1% 5.1% -
Basic Earnings Per Store 7.7 Cents 7.9 Cents + 3%

17. Update & 2002 Outlook

18. Update & 2002 Outlook Circle K Hong Kong
Rising Unemployment, Continuing Deflation, Declining Consumer Confidence
No Signs of Recovery
Tough 4th Quarter 2002
* Source – HKSAR Census and Statistics Department

19. Update & 2002 Outlook Circle K Hong Kong – Store Growth
Beginning of Year : 146
Opened So Far : + 11
Construction in Progress/ : + 8
Committed Lease
Target Store Number : 170
at End of the Year

20. Update & 2002 Outlook Circle K Hong Kong Tactics
Focus on Managing Pricing, Gross Profit & Controlling Expenses
Aggressive & Creative Promotions
Develop Fast-growth Product Categories – Food Services, Phone Cards and Store Services

21. Update & 2002 Outlook Circle K China
Obtained Business License
1st Store Ready, Official Opening – 17 November 2002
2nd Store Under Construction
Grand Opening – 14 December 2002

22. Update & 2002 Outlook To Summarise
Tough Hong Kong Market Slowing Profit Growth
About to Commence Business in Southern China
China Start-up Cost to Increase
4th Quarter Profit Growth Under Pressure
Fast Store Growth Starting in 2003

23. Convenience Retail Asia Limited
Just Won
HKRMA 2002
Service & Courtesy
Award
Best Under A Billion
200 Companies
for 2002
Superbrands
Hong Kong 2002