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State Securities Commission Approves ITACO‘s First 2007 Dividend Payment

On January 18, 2007, on behalf of the State Securities Commission, Mr. Bui Hoang Hai, Vice-Head of Department of Issuance Management, signed a document approving Tan Tao Investment Industry Company's (ITACO) issuance of shares as its first 2007 dividend payment.

MINISTRY OF FINANCE
STATE SECURITIES COMMISSION
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SOCIALIST REPUBLIC OF VIETAM
Independence - Freedom – Happiness
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N0: 160/UBCK-QLPH
Ref. Issuance of additional shares
as first 2007 dividend payment
Hanoi, January 18, 2008
To: Tan Tao Investment Industry Company

After examining the company‘s submitted document on additional share issuance as the first 2007 dividend payment, the State Securities Commission announced it does not oppose the share issuance. In order to implement this issuing phase, the State Securities Commission provides guidance to the company as follows:

- Contact the Ho Chi Minh City Securities Trading Center (HOSTC), the Securities Deposit Center to determine the date for finalizing the list of shareholders eligible for the first 2007 dividend payment.

- Send the issuance document to Ho Chi Minh City Securities Trading Center, and concurrently make a public announcement through the public media at least 10 days prior to the issuance.

- Within 10 days after the completion of the issuance phase, the Company will need to announce the information and report to the State Securities Commission, Ho Chi Minh City Securities Trading Center the result of issuance phase.

It is suggested that the Company follows the above guideline of the State Securities Commission throughout the share issuance phase of the first 2007 dividend payment to existing shareholders.

To:
- As above
- Ho Chi Minh City Securities Trading Center
- The Securities Deposit Center, KLS
Assigned by the Chairman
for the Head of Department of Issuance Management
Vice-Head of the Department
Bui Hoang Hai