ASA -Bermuda- Limited Announces Earnings for the Three Months Ended February 28, 2005.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- ASA Asa (ā`sə), in the Bible, king of Judah, son and successor of Abijah. He was a good king, zealous in his extirpation of idols. When Baasha of Israel took Ramah (a few miles N of Jerusalem), Asa bought the help of Benhadad of Damascus and (Bermuda Bermuda (bûrmy  `də), British dependency (2005 est. pop. 65,400), 21 sq mi (53 sq km), comprising some 150 coral rocks, islets, and islands (of which some 20 are inhabited), in the ) Limited (NYSE NYSESee: New York Stock Exchange :ASA), a closed-end investment company closed-end investment company: see mutual fund. , today reported the release of the following information with respect to the Company's operations for the three months ended February February: see month. 28, 2005:
February 28, 2005 *February 29, 2004
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Net Assets $440,190,473 $458,360,243
Shares outstanding 9,600,000 9,600,000
Net asset value per share (1) $45.85 $47.75
(1) Based on closing prices on the JSE Securities Exchange South
Africa or other stock exchanges, as applicable, translated to
U.S. dollars.
February 28, 2005 *February 29, 2004
----------------- -------------------
Net investment income (2) $606,451 $ 1,055,307
Net investment income per
share (2) $.06 $.11
(2) There were no capital gains (losses) for the three months
ended February 28, 2005 or February 29, 2004. Excludes net
realized gain from foreign currency transactions of $158,176
($.02 per share) and $45,182 ($-0- per share) for the three
months ended February 28, 2005 and February 29, 2004,
respectively. Excludes net (decrease) in unrealized
appreciation of ($39,976,671) (($4.16) per share) and
($35,928,217) (($3.74) per share) for the three months ended
February 28, 2005 and February 29, 2004, respectively.
Excludes net unrealized (loss) on translation of assets and
liabilities in foreign currency of ($130,651) (($.01) per
share) and ($156,118) (($.02) per share) for the three months
ended February 28, 2005 and February 29, 2004, respectively.
Shareholders can access the Company's website at
www.asaltd.com to view the quarterly financial statements and
other financial information.
Robert J.A. Irwin
Chairman, President & Treasurer
*All amounts for February 29, 2004 relate to ASA Limited.
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