The evolution of number density, size and intrinsic colour is determined for a volume-limited sample of visually classified early-type galaxies selected from the HST/ACS images of the GOODS North and South fields (version 2). The sample comprises 457 galaxies over 320 arcmin2 with stellar masses above 3E10 Msun in the redshift range 0.4<z<1.2. Our data allow a simultaneous study of number density, intrinsic colour distribution and size. We find that the most massive systems (>3E11 Msun) do not show any appreciable change in comoving number density or size in our data. Furthermore, when including the results from 2dFGRS, we find that the number density of massive early-type galaxies is consistent with no evolution between z=1.2 and 0, i.e. over an epoch spanning more than half of the current age of the Universe. Massive galaxies show very homogeneous **intrinsic** colour distributions, featuring red cores with small scatter. The distribution of half-light radii -- when compared to z=0 and z>1 samples -- is compatible with the predictions of semi-analytic models relating size evolution to the amount of dissipation during major mergers. However, in a more speculative fashion, the observations can also be interpreted as weak or even no evolution in comoving number density **and size** between 0.4<z<1.2, thus pushing major mergers of the most massive galaxies towards lower redshifts.
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