- Signed agreement to sell European water operations to Nestle Waters.

- Superdrug opened its first new identity store in the Bullring Centre Development in the UK.

- Watsons Water celebrated centennial anniversary with the launch of the "Year of Hong Kong Creativity" centennial bottles by 12 famous local artists.

- Watsons Your Personal Store opened its Asia's first 3rd generation store at Pacific Place, Hong Kong.

- Fortress rolled out a brand-wide transformation to New Fortress in Hong Kong.

- Nuance-Watson opened six new boutiques and three new megastores, The Atrium and two Temptation Duty Free shops at the Hong Kong International Airport.

¡@

- Fortress brand was re-launched in Taiwan with the New Fortress concept.

- PARKnSHOP China opens its first 2nd Generation Megastore at Ju Fu Luxury Garden (Dongguan) in China.

- Watsons extends the 3rd generation store concept to Taiwan.

- Acquired Drogas health & beauty retail chain in the Eastern Europe.

- Watsons announced a proposed acquisition of Apex Pharmacy Sdn Bhd from Apex Healthcare Bhd.

- Purchased a 40 per cent stake in Rossmann Germany adding 786 stores to the Gourp's retail portfolio.

- Fortress launched the HK$10 million "Inspiring Smart Living" brand campaign.

- A.S. Watson closed a Euro 1,280,000,000 syndicated term loan facility guaranteed by Hutchison Whampoa.

- Watsons opened its 50th pharmacy counter in Hong Kong.

- Watsons and leading Korean retail company LG Mart., Co. announced a joint venture to launch Watsons in Korea in early 2005.

- TASTE food galleria, the latest generation of lifestyle food stores, was launched in November.

¡@

- Announced a cash offer on Marionnaud SA shares amounting to £á534 million.

- Watsons celebrated its 100th store in Mainland China and 300th store in Taiwan.

- Announced retail move into Turkey where 1st Watsons Your Personal Store was established in Istanbul.

- 1st "Watsons" health & beauty store opened in Korea.

- The successful acquisition of Marionnaud in March 2005 has made A.S. Watson the largest health & beauty as well as luxury perfumeries & cosmetics retailer in the world with more than 6,200 stores.

- New Boutique-style Food Hall GOURMET, was launched in June.

- Acquired Dutch Portegies Drugstore in June.

-Completed the acquisition of UK specialist perfume retailer Merchant Retail Group including The Perfume Shop in August 2005.

- Acquired Spektr in Russia in October.

- Watsons Your Personal Store opened its first store in Estonia in October, boosting the Group's global presence to 34 markets.

- The first Watsons Your Personal Store in Indonesia opened in PONDOK INDAH MALL 2 in South Jakarta.

- First Watsons Your Personal Store in Europe opened in Zalec, Slovenia.

- Watsons celebrated its 200th store in Mainland China in June.

- Acquired DC, the largest health & beauty retail chain in Ukraine in July.

- Marionnaud expanded into Asia by opening its first Marionnaud store in Philippines in September.