Grandfield Pacific Inc. releases third quarter financial results



    YELLOWKNIFE, March 27 /CNW/ - Grandfield Pacific Inc. today released the
financial results for the third quarter ended January 31, 2007.
    The net loss before income tax recovery for the three-month period ended
January 31, 2007, was a loss of $29,723 compared to a net loss from the same
quarter ending in 2006 of $97,384. Loss from operations, before management
fee, interest and other income, for the quarter ended January 31, 2007, was
$46,648 as compared to a loss of $130,433 for the comparative quarter ended in
2006.
    The net loss before income taxes for the nine-month period ended
January 31, 2007, was $152,026 as compared to loss income from the same period
in 2006 of $178,737. The loss from operations, before management fee, interest
and other income, for the nine-month period ended January 31, 2007, was
$205,293 as compared to a loss of $256,369 for the comparative period ended in
2006.

    
    -------------------------------------------------------------------------
                                     For the three         For the nine
    Summary of Financial             months ended:         months ended:
    information           Notes   31-Jan-07  31-Jan-06  31-Jan-07  31-Jan-06
    -------------------------------------------------------------------------
                                       $                                $
    Total revenue           1       242,078    237,622    712,013    760,198

    Net income/(loss)               (19,617)   (69,384)  (100,337)  (122,737)

    Basic and diluted
     earnings/(loss)
     per share                        (0.01)     (0.02)     (0.03)     (0.03)
    -------------------------------------------------------------------------
        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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