Mekong Enterprise Fund invests US$745,000 in LAC VIET Computing Corporation

HO CHI MINH CITY, VIET NAM (16 October 2003) -- Mekong Capital announced that the Mekong Enterprise Fund, Ltd. has invested US$745,000 in LAC VIET Computing Corporation (LAC VIET"). This is the third investment announced by the Mekong Enterprise Fund since its launch in April 2002.

HO CHI MINH CITY, VIET NAM (PRWEB) October 19, 2003 --- Mekong Capital announced that the Mekong Enterprise Fund, Ltd. has invested US$745,000 in LAC VIET Computing Corporation (LAC VIET"). This is the third investment announced by the Mekong Enterprise Fund since its launch in April 2002.

Mr. Ha Than, General Director of LAC VIET, said The investment of Mekong Enterprise Fund into the company will create great value not only as a partner for building long-term growth but also for helping to make significant improvements to our people, our processes and operational management. It assures that LAC VIET will definitely continue to provide our customers higher levels of customer satisfaction than ever and with more creative, adaptive and high quality products and services".

Mr. Chris Freund, Managing Director of Mekong Capital, said: We are very excited about the Mekong Enterprise Funds investment in LAC VIET. Through the vision of the General Director, Mr. Ha Than, as well as the high level of commitment and capability of the management team and employees, LAC VIET has a track record of continuous improvement and a number of notable achievements. In particular, LAC VIET has a record of proactively making improvements to its software development process and management systems and has established itself as a leader in several key product areas. We hope that the Mekong Enterprise Fund will be able to add significant value as an investor in LAC VIET by assisting the company to continue to make improvements to its management systems."

About LAC VIET
LAC VIET is the industry leader in locally developed Enterprise Resource Planning (ERP) and Knowledge Management (KM) applications for the Vietnamese market. LAC VIET's internally developed accounting and ERP applications, such as AccNet, Assets Management, HRP (HR-Payroll-TMS) are currently used at over 500 companies in Vietnam and continue to gain market share from both foreign and local competitors. Meanwhile LAC VIETs dictionary software, mtd2002, is considered to be the most widely used locally-developed software application in Vietnam.

LAC VIETs Vebrary was the first successful implementation of a Digital Library solution in Vietnam and together with content creation and management tools, will be Vietnams first complete KM solution for both enterprises and training institutions.

LAC VIET is also a leader in network and systems integration in Vietnam, with a list of prestigious customers that includes: Citibank, State Bank of Vietnam, Vietnam Bank for Agriculture and Rural Development, Bank for Investment & Development of Vietnam, ING Bank, Danang University, Fujitsu Component Systems, Nestlé, Tetra Pak and Hyundai Information Technology. LAC VIET is an authorized distributor for leading IT network infrastructure companies including Dell, IBM, KRONE, Allied Telesyn, Ericsson, and others.

LAC VIET also provides software outsourcing, which is quickly growing to become a significant business for the company.

LAC VIET has approximately 162 employees in its 3 offices in Ho Chi Minh City, Hanoi and Danang.

For more information on LAC VIET, please visit the website www.lacviet.com.vn.

About Mekong Enterprise Fund
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.
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For more information, please contact:
Chris Freund
Managing Director
Mekong Capital Ltd
e-mail: info@mekongcapital.com