MHI
13/07/2004
GENERAL

REL: 1311 HRS Michael Hill International Limited

GENERAL: MHI: Unaudited Sales figures for 12 months ended 30 June 2004

Note that these figures are preliminary figures and do not necessarily
reflect accounting adjustments.
Note also that the comparative figures for Last Year reflect the final
audited figures for that period.
Same stores have been opened for the whole of the corresponding period.
All figures are in New Zealand dollars.

12 month Sales Last Year This Year % Var

Same Stores
New Zealand $82,034,357 $82,981,726 +1.2%
Australia $131,502,051 $146,017,350 +11.0%
Total Same Stores $214,760,620 $230,593,084 +7.2%

All Stores
New Zealand $83,784,000 $86,381,070 +3.1%
Australia $138,710,246 $166,935,540 +20.3%
Canada $2,307,688 $5,862,487 +154.0%
Total All Stores $224,801,934 $259,179,097 +15.3%

Exchange rates used:
Australia 0.89 0.88
Canada 0.80 0.84

Commentary

1. NZ sales were 8.0% up for the fourth quarter and finished the year
1.2% up on last year.
2. The Australian stores continued to perform strongly in the June
quarter and same stores sales finished the year 9.8% up on last year in $A.
3. Canadian sales figures for the 12 months were for 4 stores compared
to 8 months of sales for the previous year.
4. The overall same store increase for the 12 months of 7.2% is a
pleasing result.
5. The full year profit announcement will be made on the 20th August
2004.

R.M.Hill
Chairman 13/7/04

Inquiries

Wayne Butler, Company Secretary 021 976800
End CA:00102546 For:MHI Type:GENERAL Time:2004-07-13:13:11:09