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VanceInfo Announces Closing of 2,530,000 American Depositary Shares Offering

2010-11-29 23:08 915

BEIJING, Nov. 29, 2010 /PRNewswire-Asia/ -- VanceInfo Technologies Inc. ("VanceInfo" or the "Company") (NYSE: VIT), an IT service provider and one of the leading offshore software development companies in China, today closed its previously announced public offering of 2,530,000 American depositary shares ("ADSs"), including 330,000 ADSs that Citigroup Global Markets Inc. ("Citi") purchased through an over-allotment option. VanceInfo received the net proceeds of approximately $89.8 million after deducting underwriting discounts and commissions.

The offering was under VanceInfo's currently effective shelf registration statement on Form F-3 filed with the Securities and Exchange Commission (the "SEC") on November 16, 2010.  This press release does not constitute an offer to sell, or the solicitation of an offer to buy, securities and does not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful. A prospectus supplement and the accompanying prospectus describing the terms of the offering has been filed with the SEC and are available from the SEC website at: http://www.sec.gov. Copies of the prospectus supplement and the accompanying prospectus may be obtained from Citi, Brooklyn Army Terminal, 140 58th Street, Brooklyn, NY 11220, (877-858-5407).

About VanceInfo

VanceInfo Technologies Inc. is an IT service provider and one of the leading offshore software development companies in China. VanceInfo was the first China software development outsourcer listed on the New York Stock Exchange.

VanceInfo's comprehensive range of IT services includes research & development services, enterprise solutions, application development & maintenance, quality assurance & testing, globalization & localization and other solutions and services. VanceInfo provides these services primarily to corporations headquartered in the United States, Europe, Japan and Greater China in high-growth industries such as technology, telecommunications, financial services, travel services, manufacturing, retail and distribution.

Source: VanceInfo Technologies Inc.
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