CMX: Explanation for business result in quarter 1/2011

Ca Mau Frozen Seafood Processing Import Export Corporation (HOSE: CMX) has explained business result in quarter 1/2011 as follows:

1. Revenue in quarter 1/2011 decreased VND237,561,678,354 (9.22%) compared quarter 1/2010 because:

• By market at United State of America, Japan, EU, etc quality inspection of severe food hygiene and safety to make importers reduce purchases

• Drastic competition for price market of the professional peers to make customers reduce purchases

2. Profit in quarter 1/2011 loss VND25,245,971,955 compared with quarter 1/2010 because:

• Interest of the commercial banks in quarter 1/2011 increase higher compared quarter 1/2011.

• Input costs increase in quarter 1/2011 compared with quarter 1/2010: electricity, materials, packing, etc.

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