NAV: Resolution of the Board of Directors

On September 13, 2008, the Board of Directors of Nam Viet Joint-Stock Company (NAVIFICO) held a meeting and issued a resolution as follows:

1. The time of issuing stock to raise the chartered capital from VND80 billion to VND100 billion will be postponed until 2009.

2. The resignation of Ms. Nguyen Thi Toi from the post of BOD Member was approved as of September 20, 2008.

3. Mr. Nguyen Trung Hieu will be appointed to a member of the BOD as of October 1, 2008. The appointment will be submitted for approval at the annual meeting 2009.

4. The projects approved at the annual meeting will be executed, including Navifico Wood Industry Project at Hung Loc Industrial Zone and Navifico Building at Hiep Binh Phuoc, Thu Duc.     

HoSE

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