SFI: Information of Joint Venture Company

Sea & Air Freight International (SFI: SAFI) has informed of its joint venture company with SITC Shipping Asia Pte. Ltd. as follows:

* Company name: Cong ty TNHH SITC Viet Nam

* English trading name: SITC VIETNAM CO., LTD

* Abbr.: SITC VIETNAM

* Investment Certificate No. 021022000145 signed on May 08, 2009

* Issued authority: Hai Phong People’s Committee

* Business type: A limited company has two or more partners

* Address: R. 601, DG Building, 15 Tran Phu St., Hai Phong City, Vietnam

* Business services: Shipping and forwarding agent

* Charter capital: VND7,000,000,000 (seven billion dongs), equivalent to USD400,000 (four hundred thousand dollars) include:

* SAFI contributed VND3,570,000,000 equivalent to USD204,000 (51% of charter capital).

* SITC Shipping Asia Pte. Ltd. contributed VND3,430,000,000 equivalent to USD196,000 (49% of charter capital).

* SITC Vietnam Co., Ltd. will operate as from June 01, 2009.

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