To: Shareholders of  VINACONEX JSC.

VINACONEX would like to inform shareholders about the success of the recent private offering of 2010 corporate bonds valued at VND 2,000 billion, details as:

1.             Issuer: Vietnam Construction and Import - Export Joint Stock Corporation (VINACONEX)

2.             Name of bond: VINACONEX Bond 2010

3.             Type of bond: Ordinary and Unsecured bond

4.             Form of bond: Book-entry bond

5.             Face value of bond: VND 1,000,000,000/bond

6.             Total face value of bonds registered by investors: VND 2,300,000,000,000  

7.             Total face value of issued bonds: VND 2,000,000,000,000

8.             Issue price: 100% of face value

9.             Term of bond: 2 years

10.         Issue date: 25/05/2010

11.         Maturity date: 25/05/2012

12.         Forms of issuance: Private offering under the Decree No.52/2006/ND-CP dated 19/05/2006 by the Government on Corporate Bond Offering

13.         Objects of the offering: Local and International organizations under Vietnamese laws

14.         Interest: 14%/year in the 1^st year; interest in the following years will be an average accumulation of savings interest rate in VND, deferred payment, 12-month term announced by the Transaction centers of four commercial banks in Hanoi, include: Bank for Agriculture and Rural Development (transaction center), Viettin Bank (Hanoi branch), BIDV (Branch 1), and Vietcombank (transaction center) plus (+) a margin of 3.4%/year.

15.         Payment of interest: Annual deferred payment

16.         Payment of principal: One payment on maturity date

17.         Purpose of capital mobilization: To fund major projects and raise working capital for the issuer

18.         Issuance consultancy and arrangement organization: BIDV and Vinaconex – Viettel Finance Joint Stock Company

Kind regards,

VINACONEX JSC.