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Longtop Wins Contract from a Leading Joint Stock Bank in China to Develop Business Intelligence System



XIAMEN, China, July 8 /Xinhua-PRNewswire/ -- 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 signed a contract with a leading Joint Stock bank in China for a customized Business Intelligence (BI) solution.

Under the terms of the contract, Longtop will develop a BI application system that helps the Joint Stock bank to evaluate its electronic banking such as call center, on-line banking and mobile banking, and to analyze related customer behavior in supporting the bank's marketing decisions with regard to electronic banking. The system is an application built on top of the data warehousing platform that Longtop developed in 2006 for this client.

"We are delighted that our earlier cooperation has led to this opportunity that strengthens our BI service relationship with the Joint Stock bank," remarked Weizhou Lian, Chief Executive Officer of Longtop. "Having grown our revenue from the Business Intelligence sector over 300% in fiscal 2008, we see the strong market demand for our BI solutions is continuing. With our proven expertise and delivery capabilities, leading market position, and in-depth understanding of the China market and customer needs, we believe we are well positioned to capitalize on the growing market opportunities."

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 five solution delivery centers, three research centers and thirty-nine service centers located in 20 provinces throughout China. Longtop was founded in 1996 by Xiaogong Jia, Chairman and Weizhou Lian, CEO, as a system integration company focusing on the financial services industry in China and made the transition to a software and solutions provider in 2001. For more information, please visit: http://www.longtop.com .

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995

This announcement contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about our beliefs and expectations, are forward-looking statements. These statements are based on current plans, estimates and projections, and therefore you should not place undue reliance on them. Forward-looking statements involve inherent risks and uncertainties. We caution you that a number of important factors could cause actual results to differ materially from those contained in any forward-looking statement.

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. Further information regarding these and other risks is included in Longtop's annual report on Form 20-F for the fiscal year ended March 31, 2008, and other filings with the Securities and Exchange Commission.

For more information, please contact:

Longtop Financial Technologies Limited

Charles Zhang or Huiying Yang

Tel: +86-592-239-6888 x1312

Email: ir@longtop.com

IR Inside BV

Caroline Straathof

Tel: +31-6-5462-4301

Email: info@irinside.com

Source: Longtop Financial Technologies Limited
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