First nine months FPT's profit hits 843 billion VND, up 28%

Hanoi - October 13 of 2008, FPT Corporation announced business results of the 3rd quarter and the first three quarters of 2008. It also highlighted some achievements during this period.

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20/10/2008

The global financial crisis has affected Vietnam’s economy. However, FPT kept its stable growth in the 3^rd quarter of 2008, with total profit of the first 9 months reaching 843 billion VND, up 28% year on year.

The Corporation's total revenue in the 3^rd quarter reached nearly 3,773 billion VND, a 17.5% year on year increase, roughly 114.6% of the year forecasts. Profit before tax was 212 billion VND, a 38.7% year on year increase, 3% over expectations. Profit after tax of shareholders of parent company grew 37.2%, reaching over 120 billion VND. Basic earning per share in the 3^rd quarter was 1,280 VND.

By the end of 3^rd quarter of 2008, the Corporation's total revenue was nearly 12,45 billion VND, growing 36.7% year on year, meeting 83.3% of the year's target. Profit before tax was 843 billion VND, growing 27.9% year on year, and meeting 71.3% of the year's target. Profit after tax of shareholders of parent company year on year growth was 508 billion VND, up 12.1% year on year, basic earning per share was 5,457 VND.

FPT business results by lines were also positive, with traditional business lines: Integration System, Software Outsourcing, Telecom, Education and Distribution raking in the largest profits.

The 3^rd quarter business results for these business lines respectively were: 150%; 91.3%; 110.7%; 235.9% and 109.7%; meeting 121.2%; 98.8%; 112.9%; 163.8% and 108.7% of the target for the first 3^rd quarters of 2008.

Profits before tax of traditional business lines were also optimistic, meeting 133.5%; 64.3%; 109.9%; 286.7% and 63.1% of 3^rd quarter targets respectively, and meeting 129.8%; 91.2%; 153.2%; 246.6% and 103.4% of the target for the first 3^rd quarters of 2008.

Especially, the Software and Services’ revenue was nearly 699 billion VND, meeting 103.4% of 3^rd quarter target, contributing nearly 1,921 billion VND to the Corporation's total revenue as of end of 3^rd quarter 2008, 10% over target. 3^rd quarter profit before tax was 175 billion VND, bringing profit before tax of the first 3^rd quarters of 2008 to 626 billion VND.

These positive growth and business results are testimonies of FPT's position as a leading economic corporation, making the Corporation's goal of 1 billion dollars in revenue in 2008 not a faraway dream.

Following are some of FPT's remarkable performances during the 3^rd quarter and in the future:

1. September 2008, FPT is the leader in S&P Vietnam 10 Index launched by Standard & Poor’s – the world’s leading index provider. S&P Vietnam 10 Index comprises 10 leading companies and provides global investors with tradable exposure to the largest and most liquid companies in Vietnam.

2. FPT changed Vietnamese name of the Company. This is the 3^rd name-changed for FPT. The first change was on October 27^th 1990, from The Food Processing Technology Company to The Corporation for Financing and Promoting Technology. The second change was in March 2002 when the Company was equitized (its English name remains unchanged).

3. The Corporation issued additional shares to investors according to the ratio 2:1 (investors receive 1 additional share for every 2 shares owned), raising the Corporation's total chartered capital by 50%.

4. September 20^th, 2008 SBI Holdings officially became a stakeholder of FPT Capital with an 8.17% stake. FPT Capital is committed to allowing SBI Holdings to increase the largest possible stake in the future in accordance with regulations set by Vietnamese government. This is proof of the long-term commitment in the partnership between SBI Holdings and FPT Capital, despite the global financial crisis.

5. On October 13^th, 2008 FPT established two new subsidiaries in America and Australia, FPT USA Corp. and FPT Australasia Ltd. FPT USA is headquartered in San Mateo, California while FPT Australasia is headquartered in Sydney, Australia. This "twin" event is a vital step for FPT's globalization strategy to promote its software outsourcing services, particularly in America - the world's largest market for software and software outsourcing; and also to expand to new potential Pacific markets - Australia, New Zealand. Total revenue forecasts for these two markets in 2009 are about 13 million dollars.

FPT's notable achievements in 3^rd quarter of 2008

Business activities:

1. From July 1, FPT Information System (FPT IS) started operating under a new model, with 7 subsidiaries and centers. These subsidiaries are financially independent, with independent accounts and distinctive seals.

2. July 13, FPT Malaysia was established in Kuala Lumpur, Malaysia.

3. July 14, construction of FPT Danang office building officially began in Massda Industrial zone (owned by a joint venture between Danang and Malaysia) in Ngu Hanh Son Dist., Danang.

4. July 31, FPT signed a memorandum with STIC - one of the largest Korean adventure funds.

5. August 8, TienPhongBank opened its first branch in Hanoi at 22 Lang Ha.

6. August 8, FPT IS became Symantec's - world leader in anti-virus applications and security solutions - exclusive Diamond partner in Vietnam.

7. August 12, FPT and Mitsubishi - Japan's leading economic corporation signed a strategic cooperation agreement to seek business opportunities in Vietnam and other markets.

8. September 12, TienPhongBank met requirements to register as a public company with the State Securities Commission.

9. September 16, the first day of the new school-year for students of FPT University's 4^th enrollment .

10. September 25, FPT signed a strategic cooperation memorandum (valid through 2009) with Nokia - world leader in mobile technology - to promote the transfer and growth of Internet and communication convergence services in Vietnam.

11. September 2008, FPT Distribution became Dell's authorized distributor in Vietnam.

12. FPT Telecom Southern Branch became the authorized distributor of Kaspersky Internet Security, providing FPT Telecom's Internet clients with comprehensive computer security solutions.

Achievements, awards:

1. July 14, FPT received 5 honors at the Top 5 ICT award, and 2 gold medals at the 2008 ICT exhibition.

2. July 21, FPT's mobile technology retail network, FPT [IN] became the first in its field in Vietnam to be certified ISO 9001:2000 by UK's Bureau Veritas Certification. August 2008, Vietnam's first Mainframe certificate was granted to Le Van Thanh, technology specialist for FPT IS Banking and Finance. Thanh received a highest score with 100/100.

3. August 2008, Vietnam's first Mainframe certificate was granted to Le Van Thanh, technology specialist for FPT IS Banking and Finance. Thanh received a highest score with 100/100.

4. September 2, FPT was among the top 10 sustainable development companies to receive the 2008 “Sao Vang Dat Viet” award.

Community activities:

1. July 14, FPT honored 3 young Vietnamese chess talents, with an award of 5 million VND for each. The three achieved high results in the Southeast Asian Youth Chess Championship held in Danang in June 2008.

2. July 22, FPT kicked off its "Mobile Labs 2008" and "Mobile Eyes" contest.

3. FPT donated 3 computer labs to Nghia Tan Secondary School and Dich Vong A Primary School in September and October for students' IT and computing popularization. Total donation value was nearly 1 billion VND.

4. FPT personnel department donated more than 80 million VND to children of victim families of the flood in Lao Cai, Yen Bai province.

5. September 6, FPT and Thong Nhat Bicycle Company introduced the FPT - Thong Nhat Bicycle Club with over 500 members from the two companies' staff. The club encourages its members to cycle to work for personal physical exercise and environment protection.