HDC: Resolution on the second dividend payment of 2010

Ba Ria - Vung Tau House Development Joint Stock Company (HODECO) (HOSE: HDC) announced the resolution of the Board of Directors on issuing shares to the second dividend payment in cash for the year 2010 as follows:

• Stock type: Common stock

• Par value: VND10,000

• Total outstanding share: 19,499,511 shares.

• Exercise ratio: 20% (A shareholder owning 10 shares will receive 2 shares)

• The volume receive will be rounded to units. The fractional (If any) will be bought back by the company with VND10,000/share.

• For example, at the record date, shareholder Nguyen Van A currently owns 323 shares, the calculation as follows: The number of shares distributed in theory: 323 shares × 20% = 64.6 shares. The number of shares in practice: 64 shares and VND6,000 (= 0.6  VND10,000).

• The effective date of the resolution is April 20, 2011.

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>   ST8: The record date for the third dividend payment 2010 and the 2011 annual shareholders’ meeting (21/04/2011)

>   VCF: Cash Dividend Payment (21/04/2011)

>   VCF: Cash Dividend Payment (21/04/2011)

>   TBX: Notice of record date for dividend payment (20/04/2011)

>   LCS: Board resolution (19/04/2011)

>   NPS: Board resolution (19/04/2011)

>   NPS: Notice of record date for dividend payment and AGM (19/04/2011)

>   HCT: Notice of record date for dividend payment and AGM (19/04/2011)

>   ACB: Board resolution (20/04/2011)

>   HRC: Cash dividend payment (19/04/2011)