46 per
share on a diluted basis , from $17. Smith concluded, "While we did not achieve our targeted goal of
20 percent return on equity for 2004, we did achieve good development where we
evolve with strong liquidity and very healthy financial ratios. Nokia Sensor is free of charge.

shares things

8 million, or $1.
"Looking ahead, the Company has many challenges to face. owns companies that operate internationally in the
financial and engineering services industry, and specializes in merchant
banking and commodities trading, and industrial and engineering services. To
obtain further information on the Company, please visit our website at
http://www.78

Weighted average shares outstanding
Basic 13,520,221 13,054,727

Diluted 13,818,374 14,128,621

MFC BANCORP LTD.
Nokia Sensor is now available for a number of Nokia products including
the Nokia 3230, 6260, 6600, 6620, 6630 , 6670, 6680, 6681, 6682, and 7610. A full list of Nokia Sensor's features is
available on the website .

lit profile

(Nasdaq: MXBIF; Frankfurt Stock Exchange: MFC GR) reported today its financial
results for the fourth quarter and twelve months ended December 31, 2004.49 on a per share basis compared to $13.29 in the
previous year.

Contact: Allen + Caron Inc.88 2. Nokia Sensor is a
spontaneous, sociable application for spontaneous, sociable people. Nieminen, Vice President of User Experience Unit
at Nokia.

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3 million, or $0.29

Current ratio 1.

happen multiracial

Forward-looking statements consist of statements that are not purely
historical, including any statements regarding beliefs, plans, expectations or
intentions regarding the future. With Nokia Sensor, users can create personal pages on their
phone, including text and graphics.

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24 per share on a diluted basis, compared to
$38.

Nokia Sensor Application Brings Personal Pages to Phones

com/sensor.

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mfcbancorp.'s 20F and other reports filed with
the Securities and Exchange Commission.

86(1)

(1) Excluding stock distribution payable

The Nokia Sensor application works over Bluetooth wireless
technology, providing connectivity within a range of up to 10 meters from the
mobile device.

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6 million compared to $98.27 per share on a diluted
basis, in the same quarter last year.
Total expenses for the year increased to $547., said, "The
fourth quarter was a disappointing period for the Company.7 million and our total assets
increased to $501. Our Company will continue to review its
prospects to create the greatest value for our shareholders.49 13.
Nokia Sensor can also be downloaded to PC or directly to the phone from
http://www.

gay personal

Joseph Allen (investors) Rene Randall
(212) 691-8087 (604) 683-8286
rrandall@bmgmt.

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8 million compared to
$277. Our financial
services portfolio under-performed due to the lack of profitable projects
within our risk profile.com
or
Len Hall (media)
(949) 474-4300
len@allencaron.
CONSOLIDATED BALANCE SHEETS
December 31, 2004 and 2003
(Audited )
(amounts in U.S.S. dollars; in thousand, except per share data and ratios)

2004 2003

Cash and cash equivalents $179,231 $112,544

Short-term securities 17,542 6,509

Working capital 182,652 118,399(1)

Total assets 501,579 313,043

Long-term debt, less current portion 11,950 21,182

Shareholders' equity 223,849 169,024

Book value per share 16.

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0 million, or $2. We need to solve
the issue that the majority of our portfolio companies will now have to pay
increased corporate taxes in their respective jurisdictions .
About Nokia
Nokia is a world leader in mobile communications, driving the growth and
sustainability of the broader mobility industry. http://www.

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HONG KONG, MFC Bancorp Ltd. Our book
value increased to $16.com.
FINANCIAL SUMMARY
December 31, 2004 and 2003
(Audited)
(amounts in U.
The Nokia Sensor application creates a totally new way of communicating
with people in the same location, for example in cafes, get-togethers, busses
and trains.

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MFC Bancorp Ltd. Reports 2004 Earnings

Our working capital is $182."

About MFC Bancorp
MFC Bancorp Ltd . Nokia Sensor users can also check out the
pages of other Sensor users in their vicinity, exchange messages and share
files with them.nokia.

pages happen

Revenues for the fourth quarter ended December 31 , 2004, increased to
$171. Total expenses for the fourth quarter
of 2004 increased to $165.9 million in the previous year. Factors that could cause actual results to
differ are detailed in the MFC Bancorp Ltd. This means
that the value of using mobile phones and devices is expanded to connecting
with those who share the same space at the same time, acquainted or
unacquainted.

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7 million, or $2.

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7 million
compared with $316.
Increases in revenues and expenses for the fourth quarter of 2004 and the
year were primarily a result of the inclusion of our industrial and
engineering services.
Commenting, Michael Smith, President of MFC Bancorp Ltd.91

Diluted $2. It boosts the opportunities of
Bluetooth wireless technology on the mobile device.

not interests

1 million in the fourth quarter of 2003.3 million in the same
quarter last year .24 $2.
"The Nokia Sensor application allows users to express themselves and
discover new things about others nearby in a novel and simple way.

kong profile

All
figures are in US dollars.
For the year ended December 31, 2004, revenues increased to $579.6 million.

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9 million, compared to $79 .78 per share on a diluted basis, in the prior year.
CONSOLIDATED BALANCE SHEETS (con't)
December 31, 2004 and 2003
(Audited)
(amounts in U. People are able to use their creativity and imagination to learn
more about other people and their interests.

shares writing

S; dollars in thousand, except per share data )

2004 2003

Revenue
Financial services $414,318 $316,863
Industrial and engineering services 165,413 0
579,731 316,863

Expenses
Financial services 358,047 254,990
Industrial and engineering services 131,546 0
General and administrative 52,037 19,489
Interest 6,184 3,398
547,814 277,877

Income before income taxes and minority
interests 31,917 38,986
Recovery of (provision for) income taxes 3,463 (648)
35,380 38,338

Minority interests (4,679) (334)

Net income $30,701 $38,004

Earnings per share
Basic $2.
Bluetooth is a registered trademark of Bluetooth SIG, Inc.

bull things

Net income for 2004
decreased to $30.com

MFC BANCORP LTD.27 $2. ESPOO, Finland, Nokia (NYSE: NOK) today
introduced the Nokia Sensor, a phone software application that offers a new,
exciting way for people to create information and share it with other phone
users nearby.

bull interests

dollars; in thousands)

2004 2003
ASSETS

Current assets

Cash and cash equivalents $179,231 $112,544
Restricted cash 13,706 0
Securities 17,542 6,509
Loans 8,156 11,123
Receivables 81,527 38,972
Commodity investments 21,415 8,484
Inventories 9,155 0
Real estate held for sale 35 ,663 2,615
Contract deposits, prepaid and other 18,128 1 ,754
Future income tax assets 6,664 0
391,187 182,001

Non-current assets

Securities 8,190 28,281
Loans 14,165 1,932
Property, plant and equipment 18,368 48,155
Resource property 29,363 27,889
Goodwill 16,987 12,478
Equity method investments 15,362 12,307
Future income tax assets 7,957 0
110,392 131,042

$501 ,579 $313,043

MFC BANCORP LTD.nokia. Nokia connects people to
each other and the information that matters to them with easy-to-use and
innovative products like mobile phones, devices and solutions for imaging,
games, media and businesses. Nokia provides equipment, solutions and services
for network operators and corporations.

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Net
income for the 2004 fourth quarter decreased to $6.com

interests shares

9 million in the previous year."
Mr.S." says Hannu O.

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This future
expense and the ever-changing foreign currencies in each of the respective
portfolio countries lead us to be cautious.

Certain statements included herein are "forward -looking statements" as
defined by the Private Securities Litigation Reform Act of 1995. dollars; in thousands)

2004 2003
LIABILITIES

Current liabilities

Accounts payable and accrued expenses $132,944 $41,555
Notes payable 15,263 0
Long-term debt, current portion 6,790 4,582
Deposits 38,653 17,166
Provision for warranty costs 9,672 0
Stock distribution payable 0 55,501
Future income tax liability 5,213 299
208,535 119,103

Long-term liabilities

Long-term debt, less current portion 11,950 21,182
Pension liabilities 30,568 0
Provision for warranty costs 1,295 0
Other long -term liabilities 1,030 0
44,843 21,182

Total liabilities 253 ,378 140,285

MINORITY INTERESTS 24,352 3,734

SHAREHOLDERS' EQUITY

Common stock 59,415 47,888
Equity component of convertible debt 121 0
Retained earnings 174,444 134,381
Cumulative translation adjustment (10,131) (13,245)
223,849 169,024

$501,579 $313,043

MFC BANCORP LTD .
CONSOLIDATED STATEMENTS OF INCOME
For the Years Ended December 31, 2004 and 2003
(Audited)
(amounts in U.