Saigon Telecommunication & Technologies Corporation (SGT: SAIGONTEL) announced an extraordinary as follows:

On June 11, 2008, TA Associates Viet Nam Company Ltd. (*) (20% of charter capital of SAIGONTEL) received Investment Certificate of Thu Thiem Software Park Project. The project is biggest software park in Vietnam and ASEAN and has been deployed on 15.9ha of Thu Thiem urban area with USD1.2 billion of total investment and USD6.5 billion of yearly expected revenue.

However, because of global recession, a foreign shareholder of TA Associates Viet Nam Company Ltd. (TA Associates VN) was difficult finance and it could not implement the initial engagement. Therefore, SAIGONTEL suggested representing TA Associates VN to pay VND1,500 billion of rent charge for the project on September 04, 2009.

After paying the rent charge, SAIGONTEL will level the site plan, deploy infrastructure and build operating centre and auxiliary construction to shorten the deployment time until the foreign shareholder invest the project again.