BTP: Business operational explanation

Ba Ria Thermal Power JSC (HOSE: BTP) has explained the difference in profit between QIII/2011 and QIII/2010:

• The electricity trade agreement between the Vietnam Electricity and the Company expired. Therefore, during waiting for negotiations about a new electricity price, as from January 01, 2011 the Vietnam Electricity has temporarily applied a price equal to 90% of the fixed price and 100% of flexible price according to old agreement (Agreement 2010). When an official electricity price is decided, the Company will adjust its revenue

• The gas supply quantity of Gas Company did not meet the need of BTP’s electricity production. If BTP uses petroleum, cost will be very high. So, the National Load Dispatch Centre did not use petroleum, and the electricity production in QIII/2011 decreased

• Therefore, profit in QIII/2011 was lower than the same period of last year.

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