On 5 April 2012, the Ministry of Finance issued Circular No.

52/2012/TT-BTC providing guidance for information disclosure on stock market. Accordingly, large scale public companies are now subject to information disclosure as required for listed companies. Large-scale public companies are those of chartered capital of 120 billion dong, which is determined on the basis of nearest audited financial statements or on the nearest issuance of shares; and have at least 300 shareholders at the time of fanalizing shareholder list. Specifically, a large public company is required to release periodic information disclosure of annual, six month and quarterly financial reports and of extraordinary events within 24 hours in the event of: suffering losses amounting up over 10% of the Companys equity; sales or purchases of assets amounting up over 10% of its total assets; its listed stocks hit the ceiling price or plunge to the floor price for ten consecutive trading sessions In addition, securities companies, fund management companies are also required to disclose their six month and annual audited reports of disposable capital ratios together with their six month and annual financial statements. This Circular will take effect from 1 June 2012 and supersede Circular No. 09/2010/TT-BTC dated 15 April 2010 of the Ministry of Finance.

Pursuant to Circular 52/2012/TT-BTC promulgated by Ministry Finance on 5 April, public companies with chartered capital totalling more than 120 billion dong must follow stricter rules of information declaration in the stock market. Accordingly, large-scale public companies are those of chartered capital of 120 billion dong and above and have at least 300 shareholders at the time of submitting final shareholder list to the securities depository centre on 31st December annually. A. Periodic information disclosure - Release audited financial reports - Prepare and release semi-annual financial reports within 5 working days and no later than 45 days from the end of six first months of fiscal year. If listing organisations and public listed companies are mother companies or superior accounting units with dependent accounting affiliates, combined semi-annual financial report must be made public within 60 days. - Quarterly financial reports must be released within 20 days from the ending date of that quarter. If listing organisations and public listed companies are mother companies or superior accounting unit with dependent accounting affiliates, combined quarterly financial reports must be made public within 45 days. Also, any exception to audited financial reports and semi-annual financial reports should come along with relevant explanations.

B. Abnormal information disclosure Listing organisations and listed public large-scale companies must make known unusual information within 24 hours of occurrence of one of the following circumstances: - Asset losses of 10pct and above of equity that has been recorded in the most recent annual audited financial report or semi-annual financial report; - Chartered capital increase or decrease; capital contribution of 10pct and above of total assets to other entities; capital contribution of 50pct and above of total capital of receiving parties; loan agreements and other contracts worth of 50pct and above of total assets that have been recorded in the most recent annual audited financial reports or semi-annual financial reports; - Selling and purchasing assets worth of more than 15pct of total assets that have been recorded in the most recent annual audited financial reports or semi-annual financial reports; - Opening and closure of affiliated companies, branches, plants and representative offices; - Companies' listed stocks hit the ceiling price or plunge to the floor price for ten consecutive trading sessions and above; - Difference between released financial statistics and those recorded in audited financial reports; C. Information disclosure on request Listing organisations and listed public large-scale companies are required to provide information within 24 hours upon request from the State Securities Committee, Stock Exchanges concerning the following circumstances: - Severe occurrences hurting investors' legal rights - Confirmation of rumours related to public companies that could hit stocks' prices D. Information disclosure of entities listing corporate bonds If entities that list corporate bonds are public companies, above regulations on disclosure of periodic, unusual information and information upon request. If entities that list corporate bonds are non-public joint stock companies, limited liability companies, state-owned enterprises, information would be released as follows: - Periodic information disclosure of annual financial reports and annual reports - Unusual information disclosure

- Information disclosure upon request