Mekong Enterprise Fund invests US$1.6 Million in Tan Dai Hung Plastic Joint Stock Company

HO CHI MINH CITY, VIET NAM (20 March 2003) --Mekong Capital has announced that the Mekong Enterprise Fund, Ltd. has made an investment of US$1.6 million in the Tan Dai Hung Plastic Joint Stock Company.

Mekong Enterprise Fund invests US$1.6 Million in Tan Dai Hung Plastic Joint Stock Company

HO CHI MINH CITY, VIET NAM (20 March 2003) --Mekong Capital has announced that the Mekong Enterprise Fund, Ltd. has made an investment of US$1.6 million in the Tan Dai Hung Plastic Joint Stock Company. This is the first investment made by the Mekong Enterprise Fund since its launch in April 2002.

Tan Dai Hung is Vietnams leading producer of Poly-Propylene (PP) woven bags, Jumbo bags, Container bags, Raschel bags, Leno bags, PP laminated Poly-Ethylene (PE) bags, High Density Poly-Ethylene (HDPE) and Low Density Poly-Ethylene (LDPE) bags. These bags are commonly used for the packaging of fertilizers, rice, sugar, animal feeds, chemicals and other agricultural products. Approximately 70% of the companys products are exported to countries including Italy, Spain, Portugal, France and Switzerland. Export revenues for 2003 are expected to be around US$5 million.

The Mekong Enterprise Fund is the first private equity fund focusing primarily on equity investments in private entrepreneurial businesses in Vietnam, Laos and Cambodia. The Fund aims to invest in private companies founded and managed by private entrepreneurs, with a focus on export industries and local service providers. The Fund aims to add significant value to the companies in which it invests, without being directly involved in the management of those companies.

Investors in the Mekong Enterprise Fund currently include the Asian Development Bank (ADB), the Nordic Development Fund (NDF), the State Secretariat for Economic Affairs of Switzerland (SECO), the Finnish Fund for Industrial Cooperation Ltd. (Finnfund), the Belgian Investment Company for Developing Countries (BIO) and private investors.

The Investment Manager of the Fund is Mekong Capital Ltd. For more information on Mekong Capital, please visit the website www.mekongcapital.com.

Chris Freund, Managing Director of Mekong Capital said: We are very pleased that Tan Dai Hung is the first investment for the Mekong Enterprise Fund. While the company has already made tremendous accomplishments in becoming Vietnams leading producer of PP woven bags, we believe that under the leadership of the companys Chairman, Mr. Pham Trung Cang, the company will continue its rapid pace of growth and increasingly become an example of a Vietnamese private business becoming a world leader in its field. We hope that the Mekong Enterprise Fund will be able to support the company in many useful ways to help accelerate this."

Pham Trung Cang, Chairman of Tan Dai Hung said While Tan Dai Hung is currently a leading export-oriented PP woven bag producer in Vietnam, we believe in the future of our company as the investment by the Mekong Enterprise Fund will help to strengthen the companys human resources, expand its market and introduce best practices to the company".

For more information, please contact:

Chris Freund
Managing Director
Mekong Capital Ltd
e-mail: info@mekongcapital.com