Grandfield Pacific Inc. releases third quarter financial results



    YELLOWKNIFE, NW, March 27 /CNW/ - Grandfield Pacific Inc. today released
the financial results for the third quarter ended January 31, 2008.
    Net loss for the nine month period ended January 31, 2008, was a loss of
$392,080 compared to a net loss from the same period ending in 2007 of
$100,337. The loss for the nine month 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 other income and expenses for the nine months
ended January 31, 2008, was $88,756 as compared to a loss of $205,293 for the
comparative period ended in 2007. The decrease in loss from operations is a
result in gross profit increasing to $501,627 from $391,131, a 28% increase.
Gross profit is 66% (2007 - 59%) of revenue.
    Revenue from hotel operations increased to $759,860 from $658,746 for the
same period last year - primarily as a result of increased convention business
coupled with an increase in room charge out rates.

    
    -------------------------------------------------------------------------
                                                 For the three months ending:
    Summary of Financial information    Notes        31-Jan-08     31-Jan-07
    -------------------------------------------------------------------------
                                                        $             $
    Total revenue                         1            295,232       242,078

    Net income/(loss)                                    4,878       (19,617)

    Basic/diluted loss per share                  (0.01)/(0.01) (0.01)/(0.01)
    -------------------------------------------------------------------------



    -------------------------------------------------------------------------
                                                  For the nine months ending:
    Summary of Financial information    Notes        31-Jan-08     31-Jan-07
    -------------------------------------------------------------------------
                                                        $             $e
    Total revenue                         1            805,874       712,013

    Net income/(loss)                                 (392,080)     (100,337)

    Basic/diluted loss per share                  (0.09)/(0.09) (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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