TYA: Resolution of the BOD

Taya (Vietnam) Electric Wire And Cable Joint Stock Company (TYA: TAYA VIETNAM) has informed of resolution of the BOD as follows:

1. Passing the financial statement, business result and profit distribution in 2008:

* Accumulated profit: (VND101,327,419,000).

Reason: The company had not had distributed profit for development fund, financial reserve as follows:

A.    Profit after tax in 2008: (VND108.004.812.000)

* Development investment fund (10%): 0

* Financial reserve fund (5%): 0

* Compensation for the BOD and Supervisory Board: 0

* Dividend payment: 0

* Retained profit till 2007: VND21,215,725,000

* Distribution to funds in 2007: (VND1,260,043,000)

* Dividend payment for 2007 (5%): (VND13,278,290,000)

* Loss in 2008: (VND108,004,811,000)

B.      Accumulated retained profit: (VND101,327,419,000)

• On 31st December 2008, funds of development investment and financial reserve was VND21,141,803,000,
•  Treasury stock: 9,363 shares (VND272,840,000)

2.   Passing business plan for 2009:

                   Unit: VND

3.   Dividend payment for 2008:

Business result in 2008 was heavily lost thus, the BOD has decided not to pay dividend for 2008.

4.  Compensation for the BOD and Supervisory Board:

There was no compensation for all members of the BOD and Supervisory Board for 2008.

Compensation for 2009 is expected to account for 3% of retained profit after deducting for funds.

5.   The BOD has decided to elect one member of the Supervisory Board due to resignation of Mr Tu Ting Jui for the position of member of the Supervisory Board.

6.   Bad debt of Mot Van and Lien Tin companies in 2007:

The two companies are owned by Taiwanees. They have fled to their own country. The company has still kept working with the Vietnamese police to solve this problem.

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