SGH: Resolution of the BOD

Saigon Hotel Corporation (SAIGON HOTEL) has informed of resolution of the BOD as follows:

* Article 1:  Approving resignation of Mr Le Thanh Chon – member of the BOD on August 1st 2008.

* Article 2: Appointing Mr Le Ngoc Co – member of the BOD to be chairman of the BOD.

* Article 3: Approving of upgrading and improving the Saigon Hotel under the standard of 3-star hotel in order to increase room price from USD80 to USD100 and revenue.

* Article 4: Approving of hiring a consulting company to design, calculate expenses and investment effectiveness for upgrading the Saigon Hotel.

* Article 5: Approving of resetting the company regulation.

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