PRESS RELEASE
24 August 2006

Television Broadcasts Limited's net profit* for the first six months of 2006 up 19%

Television Broadcasts Limited releases its results for the six months ended 30 June 2006 which show that a net profit of HK$470 million generated on a turnover of HK$1,887 million.

The net profit for the six months ended 30 June 2006 is HK$470 million, which represents a 19% increase from that of last year. Excluding the non-recurring gain of HK$149 million** relating to the revaluation of the 51% interest in Galaxy Satellite TV Holdings Ltd. , the net profit of the corresponding period in 2005 was HK$396 million.

The turnover of HK$1,887 million (2005: 1,913 million) and the cost of sales of HK$836 million (2005: 853 million) for the six months ended 30 June 2006 show a reduction of 1% and an improvement of 2% respectively compared to the corresponding period last year.

An interim dividend was declared at HK$0.25 per share.

* compared to the net profit (excluding the non-recurring gain of HK$149 million) of the corresponding period in 2005

** The non-recurring gain was a result of the sale of the 51% interest in Galaxy Satellite TV Holdings Limited (renamed as TVB Pay Vision Holdings Limited) to See Corporation Limited and Dr. Charles Chan Kwok Keung as announced in April 2005.

For enquiries, please contact Mr Adrian Mak, Company Secretary, at 2335 2472.