AGR: Explanation for business result in Quarter II/2011

Agribank Securities JSC (HOSE: AGR) explained the fluctuation in business result in Quarter II/2011 compared to Quarter II/2010:

• Operating revenue increased VND12.7 billion (3.14%): Because revenue from proprietary trading rose VND13 billion and other revenue(Revenue from buying in advance rights to receive money from selling listed and unlisted securities) also rose VND17 billion.

• Total expenses decreased VND31 billion (8.22%): Because expenses in Quarter II/2011 were mainly from expenses of the broking contracts to buy securities and these expenses were lower than Quarter II/2010

• Profit before tax increased VND44 billion (203%): Because the growth of revenue was higher than expenses compared to the same period of last year

• Profit after tax increased VND27.6 billion (127%): Because the current corporate income tax in Quarter II/2011 rose VND16.4 billion from Quarter II/2010.

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