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Face the challenges confidently; Move Ahead to the Future at a fast pace

Message from Chairwoman.

On behalf of the Board of Management and the Board of Directors of ITA Group, I would like to address my best wishes to all distinguished shareholders. Today, I would rather start my message to you not with the news of our nation-scale projects, nor the profit after tax of 400 billion VND, nor the impressive surplus of capital of 3,000 billion VND, generated from new issuance of stock that we achieved in 2007. I would rather express my deepest empathy to our distinguished shareholders, who placed money and trust to the development of the Group, are now facing dramatic losses due to the declining stock market. That affects directly to every single family in our society. However, we must be well aware that the past situation was completely due to outside objective factors: the gloomy world economy, the domestic market partially affected by such decline, partially by faulty macroeconomic policies. But the government quickly recognized the problems to issue eight urgent solutions that have gradually implemented into our daily lives. I thus believe that the financial situation will get back to its strong feet and the national economic growth will be recovered, which you could expect to see such improvement in the 3rd quarter of this year.

We, the Board of Management, who you, shareholders, entrusted to carry out the duty of developing the Group, made several good moves last year. Through the financial statement for 2007, you could see 80% of the profit was gained from our core businesses - the leasing of warehouses and land – and about 20% was from infrastructures, electricity and water supply, other services, and the rest from our financial activities whose interest is basically from leasing and selling warehouses and office buildings with deferred payment method. Those show to you that ITA Group has been fixing on the strategy, proposed by the Board of Management and approved by the General Shareholders Meeting.

Moving to 2008, we will continue pursuing our strategic objectives that we have been carrying out for the past 12 years. This is to continue to be a leading developer of Industrial Parks across the country, the title that we have earned for 11 years. In addition, we are to confirm the inevitable trend of turning into a leading Group in terms of building infrastructure, and industrial and financial sectors in Vietnam. On such foundation, the Board of Management has set its business plan in 2008 to increase the Group’s chartered capital to 2,000 billion VND, gain the profit after tax of at least 600 billion VND to meet the dividend payment of 30% increase a share and extract 200 billion VND from the capital surplus to pay to shareholders.

Another more important objective that we are aggressively working on is to successfully list in the foreign market exchange. We have been preparing and working with many advisory, auditing companies and several world leading law firms during the past 6 months to complete the listing portfolio in compliance with the international financial market.

With those outstanding achievements, the comprehensive orientations and strategies, the feasible objectives, the national scale projects which are in the working progress that resound the international community, and a team of Board of Management, Board of Directors and all staff who are unified, hardworking and devoted to the development of the Group, we always received complete support from the grass root to the central authorities, as well as partners and clients around the world.

But more importantly, with your invaluable companion, our distinguished shareholders, I believed that ITA Group will be able to face the challenges confidently, moving ahead to the future at a fast pace.

Chairwoman of the Board of Management of ITA Group

DANG THI HOANG YEN