VEH Partnership with Ampharco Press Release

VEH 25th February, 2008

Ho Chi Minh City, Vietnam, February 25th, 2008 – Vietnam Equity Holding, managed by Anpha Capital, a fund management company based in Ho Chi Minh City, announced today it entered into a strategic partnership that includes the purchase of a 10% equity interest in Ampharco, Vietnam Pharmaceutical Joint Stock Company, one of the leading pharmaceutical companies in Vietnam.

Louis Nguyen, Managing Partner of Anpha Capital, stated that: “The pharmaceutical industry in Vietnam has become very attractive. In recent years, both domestic sales and exports have achieved steady growth. Also, projected internal as well as external demand as well as recent regulations enacted by the Government, should assist the industry’s growth for years to come. Ampharco was selected as an investment because of its excellent historical performance, good prospects and strong management team.”

About Anpha Capital

Anpha Capital is a locally licensed investment fund management company which invests in broad and large opportunities in Vietnam. The company’s strategy is to achieve outstanding capital growth through investment in an actively managed and diversified portfolio of pre-IPO equitization opportunities of state owned enterprises (SOEs), over-the-counter securities (OTC) and private equity. In addition, the company will focus on public equity as market condition becomes favorable. Anpha Capital manages two investment funds: Vietnam Equity Holding (VEH) and Vietnam Property Holding (VPH), two Cayman Island exempted companies both listed on Xetra and the Frankfurt exchange.

For more information about the company and its executives, please visit our website at www.anphacapital.com.

About Ampharco

Ampharco, traces its history to Thai Van Laboratories, which was founded by pharmacist Nguyen Xuan Nhan in 1969. In addition to its production activities, Ampharco is also the sole distributor for 15 European pharmaceutical in Vietnam.

In 1979, Ampharco established a US manufacturing, marketing and distribution presence in California.

In 1989, Ampharco USA created close partnerships with Vietnamese pharmaceutical companies, such as Sapharco, Yteco, Medipharco and Bidipha, etc.. to distribute high quality products from the US and Europe in Vietnam; especially Kcort (corticoid), Cezil (allergic treatment), Mepraz (stomachache treatment).

In 2001, Ampharco-Vietnam Pharmaceutical Joint Stock Company was established to manufacture products domestically in Vietnam, at prices many Vietnamese could afford, with GMP-WHO international standards.

In the future, Ampharco plans to export high quality products to the US and international markets while also continuing to develop its domestic research, manufacturing and distribution systems.

For more information, please go to: www.ampharco.com.