Saigon Asset Management Signed Strategic Partnership with NBB and CNT Press Release

SAM 8th February, 2010

(Ho Chi Minh City, Vietnam) Saigon Asset Management, the investment manager of two Frankfurt listed investment funds Vietnam Equity Holding (VEH) and Vietnam Property Holding (VPH), today announced the official signing ceremonies with NBB Investment Corporation (NBB) and Construction and Materials Trading Company (CNT) at the Sheraton Saigon.

The strategic agreements will include SAM’s support to NBB and CNT in investments, advisory, project finance, and co-development of real estate projects. In addition, VPH, a real estate-focused fund, currently managed by SAM confirmed its intention to become a strategic investor to both NBB and CNT. These are fully co-operated contracts with two important players in Vietnam real estate market, a major listed real estate company (NBB) and a dominant construction material supplier to the country (CNT).

“We like NBB because it is a leading property developer and infrastructure contractor with strong land banking capabilities, over 50 hectares of land in Ho Chi Minh Cities and more than 1,000 hectares of land in other cities. The company recently paid 14% cash dividend and acquired a mining company.”, said Louis Nguyen, Chairman and CEO of Saigon Asset Management, “Working with NBB’s CEO Mr. Doan Tuong Trieu has been a pleasure as we are impressed with his vision and track record.”

“CNT is one of Vietnam’s largest suppliers of building materials, as well as a real estate developer and contractor which controls large residential land.” Said Henrik Vu, Director of Real Estate Investment. “We also believe in the management team of Chairwoman Madame Do Thi Ngoc Binh and CEO Pham Anh Tuan who believe in strong corporate governance as well as an aggressive growth plan for the years ahead.”

As previously mentioned in our press release on Feb 2nd, 2010, VPH was ranked as the No.1 performing Vietnam-focused real estate fund according to LCF Rothschild, a financial institution that tracks emerging investment funds around the world. For the year, VPH’s net asset value (NAV) increased 9.9%. Since inception, VPH’s NAV increased 9%. VEH, the equity-focused fund, increased its NAV by 35.9% in 2009, compared to a 56.9% increase in the Vietnam Index*. Since inception, VEHs NAV increased 5.4%.

* The 35.9% increase is in Euro terms, our reporting currency. In Vietnam Dong, VEH increased 47.1% compared to a 56.9% increase in the Vietnam Index.

About Saigon Asset Management

Established in 2007, Saigon Asset Management (SAM) is the investment manager for Vietnam Equity Holding (VEH) and Vietnam Property Holding (VPH), which are both Cayman Islands investment funds, listed and traded on the Frankfurt Stock Exchange and Xetra with total asset under management of approximately US$125m, including listed securities, private equity, and real estate projects.

VEH and VPH have been consistently ranked as the top performing funds since inception. In 2008, VEH was ranked as the No.1 performing equity fund in Vietnam according to LCF Rothschild. In 2009, VPH was ranked as the No.1 performing real estate fund in Vietnam.

SAM’s office in Ho Chi Minh City, Vietnam and joined by over 20 financial professionals. For more information, please visit our website at www.saigonam.com

About NBB Investment Corporation

Established in 2005 from the inheritance business activities of Cienco 5 Brach in Binh Thuan, NBB was listed and traded on Ho Chi Minh Stock Exchange on February 18, 2009. NBB now has expanded its operations to a larger scale including the Head Office, Tay Nam Branch, Binh Thuan Branch, Central Region Branch, Northern Branch, Hung Thanh Co. Ltd, NBB Industrial Joint Stock Company, Saigon Highland Investment Joint Stock Company. NBB’s extending joint venture and association include Transport Engineering Consulting Joint Stock Company No. 533, Viet Quoc Joint Stock Company, Quang Ngai Mineral Joint Stock Company and BOT Rach Mieu Bridge Co, Ltd.

The company operates in the following businesses: Real Estate Development, Property Trade; Infrastructure Construction; Hydroelectricity and Thermo-Electricity Construction; Electricity Production, Transmit, Distribution and Trade; Mining Ores and Ecological Travel Business. For more information, please visit our website at www.nbb.com.vn.

About Construction and Materials Trading Company (CNT)

Established in 1981 as a state owned company, CNT was equitized on January 1, 2003 and subsequently listed and traded on Ho Chi Minh Stock Exchange on July 28, 2008. CNT is a major player in the constructions and material trade industry and is well recognized by the Construction Ministry and the Ho Chi Minh People’s Committee. Its main lines of business include construction, real estate investment, industrial & construction material production, import & export trade in construction material to various important infrastructure projects in Vietnam. CNT employs over 2000 skilled workers and have representative office in Ukraine, China since 2003, as well as business promotion in the United States. For more information, please visit our website at www.cnt.com.vn