[ Hanoi, 2007] - BVIM announced its Board’s approval to launch the Vietnam Investment Fund II (VIF II) to attract capital from the United States, Japan and other countries. The fund will be a private closed-end fund investing in growth companies in Vietnam with an emphasis on private sector and equitization opportunities. VIF II follows BVIM’s first fund, VIF I, launched in March, 2006. VIF I is the country’s largest domestic fund with over VND$1.5 trillion in committed capital (US$94.7 million). The fund generated attractive returns for its investors, producing an IRR since inception of 53 % gross of all fees, as of end September 2007.

Bradley C. Lalonde, Chief Investment Officer of BVIM, remarked, “Conditions are excellent for investing in Vietnam’s growth companies at an early stage of their capital formation. Some of the best opportunities still lie ahead of us. Our funds are well positioned to take advantage of the Vietnamese growth story”.

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BVIM – Established in 2006 as a 50:50 joint venture between The Bank for Investment and Development of Vietnam (BIDV) and Vietnam Partners LLC, BVIM was the first domestic asset management firm licensed by the Ministry of Finance and registered under the laws of Vietnam. BVIM’s first primary investment vehicle, the Vietnam Investment Fund I (VIF I), specializes in making investments in private-sector companies and state-owned enterprises under privatization.