1. Monthly Report April 2010 2010.05.07 Investment, Finance and Accounting Cathay Life (VN)

2. Contents This month activities 1 Innovation & Incentive Program 2 Vietnamese Market News 3 Next month plan 4

3. 1.This month activities Investment UUSD / VND time deposit re-investment to match cash flow needs in the future. FFollowing up international and domestic bond market  Seek opportunity to invest government bond Accounting & Finance IInternal and External Accounting report (P&L, Tax reports.Q1 Auditing report …) TTax registration for D.Nai branch LLaunching new function system about Insurance payment by ID and bank account CCompleted testing profit center reports,the first draft of the allocation report has been released out IInnovation and Incentive Program

4. Innovation and Incentive Program Objective Rule and Eligibility Process and Templates Contents

5. Objectives Encourage employees share thoughts / ideas on business issues to improve current situation and cost saving. Company success Build a positive impact on “go- go” innovation and employee morale in a professional working environment. COST SAVING QUALITY OF SERVIES InnovationIncentive

6. Rule and Eligibility ParticipantParticipant All employee of Cathay Life Vietnam, either individuals or team. CommitteeCommittee EVP: Leader Director levels : Assistant Accounting: Coordinator AwardsAwards 3% of Net Savings, up to a maximum of VND 20,000,000. InnovationIncentive

7. Templates FORM B PROJECT APPRAISAL REPORT (PAR) FORM C PROJECT EVALUATION REPORT (PER) FORM A PROPOSAL FOR INNOVATION InnovationIncentive

8. Process 1 Idea capture indicates the main scope of innovation and its benefit. 2 Initial review Committee is doing an initial Assessment the potential feasibilities. 3 PAR issued indicates how ideas are put in practice relating to the tasks, analysis results and comments. InnovationIncentive Form AForm B

9. Process (Cont.) 4 Key review Considers the factors: resources, finance, technical issues… to make decision 5 BOD review. Upon BOD approval, a Project Manager (PM) will be assigned in implementing. 6 Implement Brings the PAR into the practice. PM has to monitor any difficulties or obstacles caused. InnovationIncentive

10. Process (Cont.) 7 Flash award 8 Appraisal Evaluate the success of project via a PER and also propose the awards. 9 Recognition Incentive to employees has contributed the developed innovation idea. InnovationIncentive Form C

11. AApril CPI increased slightly by 0.14% m/m and y/y went down a little bit to 9.23% (9.46 in March). Vietnam CPI CPI break down 4. MarketNews

12. EExport: USD 20.16bio (TYD), 8.9% y/y. Import: USD 24.81bio (YTD), 36% y/y. TTrade deficit: 4.65bio (YTD) Vietnam Imports and Exports (%) Trade deficit ($ million) MarketNews International Trade

13. The first 4 mths of 2010 showed an increase compared with the first 4 mths of last year. IndicatorApr 10(VND) YTD (YOY) Industrial output236.7trio  13.5% - State sector53.84 trio  10.3% - Non state sector84.99 trio  12.7% - FDI sector97.87 trio  16.1% Vietnam Industrial Production YTD y/y MarketNews Industrial Output

14. USD/VND rate  3.4% 17,491-18544  5.4% 17,034-17961 Vietnam Dong has been appreciated compared with US dollar recently. -Official rate : 18930- 19000VND/$ -Unofficial rate :18940 -18990VND/$ Foreign Foreign Exchange MarketNews

15. 4.Next month plan 1234 1)Follow up Auto pay project (continue) 2)Continuously follow-up the budget performance system and support all departments in budget controlling. 3)Audited by parent company 4)Keep following the progress of fund management company with ICC 5)Start investment project ─ schedule time and topic about financial market and do presentation. 6)Keep on cash managing to match cash flow needs in the future. 7)Following up international and domestic bond market, including economic indicators and bond trading activities

16. Accounting & Finance THEEND