VIG: Explanation for change of over 10% in operating result in QIV.2011 compared to QIV.2010

According to Financial Statement QIV.2011, profit before tax of QIV.2011 was a minus (-) VND 37,362,518,115 with a decrease of VND 38,155,906,271 compared to QIV.2010. Viet Nam Industrial & Commercial Securities JSC explained decrease in operating result in QIV.2011 as follows:

- Revenue from brokerage in QIV.2011 decreased by VND 3,424,832,626 year on year.

- Expenses for securities investment and pooling (including allowance expenses) in QIV.2011 increased by VND 29,237,865,116 compared to QIV.2010.

- Profit from business cooperation in QIV.2011 decreased by VND 7,609,797,920.

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