Longtop Financial Technologies Limited Announces Pricing of its Initial Public Offering of American Depositary Shares to Trade on the New York Stock Exchange (NYSE) under Ticker Symbol

2007-10-24 16:45 1074

XIAMEN, China, Oct. 24 /Xinhua-PRNewswire-FirstCall/ -- Longtop Financial Technologies Limited (“Longtop”), a leading software developer and solutions provider targeting the financial services industry in China, announced today that its initial public offering of 10,434,500 American Depositary Shares (“ADSs”) had been priced at $17.50 per share. The ADSs, each representing one ordinary share of Longtop, will begin trading on the New York Stock Exchange under the ticker symbol “LFT” on October 24, 2007.

Longtop and selling shareholders have granted the underwriters a 30-day option to purchase up to an additional 1,565,175 ADSs.

Goldman Sachs (Asia) L.L.C. was the sole global coordinator and the joint bookrunners were Goldman Sachs (Asia) L.L.C. and Deutsche Bank Securities Inc. Jefferies & Company acted as the sole co-manager.

Longtop’s registration statement relating to the ADSs was declared effective as of October 23, 2007 by the U.S. Securities and Exchange Commission. This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The offering of the securities is made only by means of a prospectus. A copy of the prospectus relating to this offering may be obtained from Goldman, Sachs & Co. or Deutsche Bank Securities Inc. at

Goldman, Sachs & Co.

Attn: Prospectus Dept.

85 Broad St., New York, NY 10004

Fax: +1-212-902-9316 or email at prospectus-ny@ny.email.gs.com

Deutsche Bank Securities Inc.

Attn: Prospectus Department

100 Plaza One, Jersey City, NJ 07311

Telephone: +1-800-503-4611 or by email at prospectusrequest@list.db.com

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.

For further information contact:

Longtop Financial Technologies Limited

Derek Palaschuk

Tel: +86-592-239-6888

Email: derek@longtop.com

Financial Dynamics

Julian Wilson

Tel: +86-10-8591-1951

Email: julian.wilson@fd.com

Financial Dynamics

Peter Schmidt

Tel: +1-212-850-5654