Grandfield Pacific Inc. releases second quarter financial results



    YELLOWKNIFE, Dec. 20 /CNW/ - Grandfield Pacific Inc. today released the
financial results for the second quarter ended October 31, 2007.
    Net loss for the six month period ended October 31, 2007, was a loss of
$395,230 compared to a net loss from the same period ending in 2006 of
$80,720.
    The loss for the period includes a provision for loss on advances to
related parties and interest and promissory note receivable from related
parties of $363,870 (2006 - nil)
    Loss from operations before income tax and other income and expenses for
the six month period ended October 31, 2007, was $82,117 as compared to a loss
of $158,645 for the comparative period ended in 2006.

    
    -------------------------------------------------------------------------
                                                 For the three months ending:
    Summary of Financial information     Notes       31-Oct-07     31-Oct-06
    -------------------------------------------------------------------------
                                                       $             $
    Total revenue                         (1)          249,905       244,964
    Net income/(loss)                                  (23,466)      (28,795)
    Basic/ diluted loss per share                 (0.00)/(0.00) (0.01)/(0.01)
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
                                                   For the six months ending:
    Summary of Financial information     Notes       31-Oct-07     31-Oct-06
    -------------------------------------------------------------------------
                                                       $             $
    Total revenue                         (1)          510,642       469,935
    Net income/(loss)                                 (395,230)      (80,720)
    Basic/ diluted loss per share                 (0.08)/(0.08) (0.02)/(0.02)
    -------------------------------------------------------------------------

    Notes:
    (1) Includes hotel revenue, management fees, interest and other income
    

    Additional information of the financial results of the Company is filed
on System for Electronic Document Analysis and Retrieval ("SEDAR") and can be
accessed electronically at www.sedar.com.

    Grandfield Pacific Inc., through its operating subsidiaries, maintains
ownership interests in and operates hotels in Canada and the Peoples Republic
of China. The Company's offices are based in Yellowknife, Northwest
Territories, Vancouver, British Columbia and Hong Kong.

    %SEDAR: 00002312E




For further information:

For further information: Sam Mark, President and Chief Executive
Officer, Email: grandfieldvan@hotmail.com

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Grandfield Pacific Inc.

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