On 24 July 2009, at Phu My District (Binh Dinh), Saigon – Quy Nhon Mining Corporation (SQC) will hold the opening ceremony to commence the operation of the biggest and most modern Titan slag plant in Vietnam, with the total investment of 1,000 billion VND (Phase 1: 500 billion VND on an area of 10 ha).

The Titan slag plant is regarded as one of the largest-scaled projects of SQC. The total capacity of Phase 1 (consisting of 2 furnaces) is 24,000 tons of Titan slag with the clarity of 93%, currently the best clarity in Vietnam. Besides, the Plant would also produce 12,000 tons of high-endurance iron per year.

In phase 2, three more furnaces will be added, increasing the capacity by 36,000 tons of Titan slag (93% clarity) and 18,000 tons of iron per year. In total, the capacity of these 5 furnaces reaches 60,000 tons of Titan slag and 30,000 tons of iron per year.

According to Ms. Dang Thi Hoang Phuong, Chairman of the Board of Directors of SQC: “After the intensive search for developing models in foreign countries and the discovery of the potentials of Titanium – rated among the strategic metals with increasing demand, early in 2007, the leaders of Saigon Invest Group and SQC decided to establish the most modern Titan slag plant in Vietnam in order to protect the national resources, reasonably projecting the exploitation and treatment of this valuable mineral, and further refining Titan products, proceeding to produce Titanium Dioxide and TiO2 alloy (Titanium combination) to meet domestic demands and export.

After profound research, we have found out that currently in Vietnam, most minerals companies only sold raw Titan products or 52% refined ones at an extremely cheap price - 50 USD/ton. In this way, the resources would be exported at a cheap price, followed by low tax contribution, therefore we has decided to import modern technologies, building the plant to produce valuable products at the price of 20 times higher and contribute more to the State budget; concurrently creating more jobs, gaining revenues and especially further increasing the value of the national natural resources and protect the environment”.

Emphasizing on the factors of technology application, raw material utilization, employee benefit and environment protection, Ms. Nguyen Tran Trieu Thanh, CEO of SQC stated: “With the orientation of sustainable development and environmental friendliness, the Company and SGI have invested into an advanced exhaust treatment system, which makes up 30% the total expenses of the project. As scheduled, the completed Plant would create jobs for at least 500 local laborers and contribute annually hundreds of billion VND to the State budget, helping boost up the socio-economic development of the region and the country”. According to the observation and assessment of foreign experts, the technologies SQC applies to this Titan slag plant prove to outdo that of China. They also firmly stated that the Titan slag plant of SQC is taking the lead in Asia in terms of technology.

The biggest and most modern Titan slag plant in Vietnam

Another target of SQC is to become the investor of the nearly-100-ha industrial zone in My Thanh Commune, leasing sites to other enterprises, integrating to the invested infrastructure to establish the Titanium Refined Production Industrial Zone of Binh Dinh.

Furthermore, SQC is owning other large-scaled projects, such as the Fresh concrete plant (300,000 m3/year); Pavement tiles production (80,000 m2/year); Reinforced concrete production (24,000 md/year); and Workshops for lease (area over 10ha).

SQC is a new member of Saigon Invest Group (SGI), established to exploit and process Titanium ores; Produce concrete and other cement-based products; Leasing workshops; Exploit rocks, sand, gravels and clay; Clear sites, building internal traffic roads; Build civil buildings, industrial building and traffic buildings, etc.

Ever since its establishment, within a modest period of time, SQC has implemented numerous significant projects in Binh Dinh, such as the accomplished Construction Project of 20,000 m2 of workshop area at the best location of Nhon Hoi A IP and especially the environment purification and raw Titan ore extraction project in Nhon Hoi A IP. The corporation has made an important contribution to the business diversion of Saigon Invest Group from traditional fields to the heavy industry, creating added values and helping boost up the national progress.

Saigon Invest Group (SGI) is one of the leading enterprises in hi-tech zone development in Vietnam, currently owning and managing 20 industrial parks, hi-tech zones and various large-scaled projects across the country with the total investment of over $2 billion. SGI operates in 6 major fields: Real Estate – Infrastructure; IT Telecommunication – Television; Finance – Banking; Education – Tourism; Production – Construction; and Energy – Minerals. The very growth of Saigon – Quy Nhon Minerals JSC is as well that of Saigon Invest Group in the field of mineral exploitation.

SAIGON - QUY NHON MINING CORPORATION

* For further details, please contact:

Mr. /Ms.: Chau Kin Hang Kelvin

Saigon - Quy Nhon Mining Corporation

Address: Lot B6, Street Number 5, Nhon Hoi IP, Quy Nhon City, Binh Dinh

Telephone: 056.3 590 203

Fax: 056.3 590 206