Longtop Wins Contract with a Leading Securities Brokerage Firm in China

HONG KONG, Nov. 2 Longtop-Conference
HONG KONG, Nov. 2 /PRNewswire-Asia/ -- Longtop Financial Technologies Limited ("Longtop") (NYSE: LFT), a leading software developer and solutions provider targeting the financial services industry in China, today announced that it has won a contract with a leading securities brokerage company in China.
Under the terms of the contract, Longtop will design and implement a centralized Enterprise Data Warehousing (EDW) which involves integrating and consolidating data residing in the customer's different data sources. The EDW will serve as an integral part of the customer's Decision Support System (DSS), providing unified data to current users and to facilitate future applications such as the Analytical Customer Relationship Management (ACRM) system and risk management systems.
"We are very happy to win this new customer in the securities industry where we currently have a very limited presence. Even without a suite of services and products for the securities brokerage industry, we were able to win this customer due to our strength in BI which we have built by working with our banking and insurance customers. We also see potential to develop further applications in the future such as ACRM and risk management systems again leveraging on our banking and insurance experience," commented Weizhou Lian, Chief Executive Officer of Longtop.
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This announcement contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by such terms as "believes," "expects," "anticipates," "intends," "estimates," the negative of these terms, or other comparable terminology. Factors that could cause actual results to differ include the effectiveness, profitability, and marketability of the company's solutions; the Company's limited operating history; its reliance on a limited number of customers that continue to account for a high percentage of the Company's revenues; risk of payment failure by any of its large customers, which could significantly harm the Company's cash flows and profitability; the ability of the Company to operate effectively as a public company; future shortage or availability of the supply of employees; general economic and business conditions; the volatility of the company's operating results and financial condition; the company's ability to attract or retain qualified senior management personnel and research and development staff; and other risks detailed in the company's filings with the Securities and Exchange Commission. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the companies and the industry. The company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or to changes in its expectations, except as may be required by law. Although the company believes that the expectations expressed in these forward looking statements are reasonable, they cannot assure you that their expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results. Any projections in this release are based on limited information currently available to us, which is subject to change.
About Longtop Financial Technologies Limited
Longtop is a leading software development and solutions provider targeting the financial services industry in China. Longtop develops and delivers a comprehensive range of software applications and solutions with a focus on meeting the rapidly growing IT needs of the financial services institutions in China. Longtop has six solution delivery centers, three research and development centers and seventy-five ATM service centers located in 27 provinces throughout China. For more information, please visit: http://www.longtop.com .

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    For Investors:
     Longtop Financial Technologies Limited
     Charles Zhang, CFA
     Email: ir@longtop.com
     Phone: +86-10-8421-7758

    For Media:
     IR Inside BV
     Caroline Straathof
     Email: info@irinside.com
     Phone: +31-6-5462-4301

SOURCE Longtop Financial Technologies Limited