POM: Explanation for the examined integrated financial statement of Q2/2010

Pomina Steel Corporation (HoSE: POM) has explained the examined integrated financial statement of Q2/2010 as follows:

* Accumulative profit till 30/6/2010: VND526,382,231,931 increasing VND44,330,719,438 or 9.19% compared to the un-examined financial statement.

* Reasons:

- Reversing 50% of inventory provision at subsidiary – The Thep Viet Steel Joint Stock Company worth VND22,700,000,000. This was the provision due to no audit of scrap inventory at the end of 2009. In the financial statement ended at 30/6/2010, the remaining inventory provision is the provision of inventory devaluation at the time when the company did not record it.

- Undistributed profit at the end of 2009 worth VND15,237,987,666 was transferred in the financial statement of 6 months 2010. However, before examination, the company did not record the amount.

- Difference of exchange rate as VND4,363,838,734.

hose

>   UIC: Peaking at the ceiling price in 5 consecutive trading days (13/09/2010)

>   DCC: Trading result of inside shareholder (13/09/2010)

>   DCC: Transaction of inside shareholder (13/09/2010)

>   TMS: Transaction of major shareholder (13/09/2010)

>   Circular 13 rumours undercut shares (13/09/2010)

>   Stocks unexpectedly nose-dive (10/09/2010)

>   Stocks unexpectedly nose-dive (10/09/2010)

>   PHR: Resolution of the Board of Directors (10/09/2010)

>   TRA: Decision on additional listing (10/09/2010)

>   KDC: Transaction of inside shareholder (10/09/2010)