Longtop Wins Contract to Develop Data Management Platform for Provincial Branch of...

Longtop Wins Contract to Develop Data Management Platform for Provincial
Branch of Big Four Bank in China

XIAMEN, China, Aug. 27 /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 provincial branch of a Big Four
bank customer to develop a customized integrated data management platform.
The platform applies Data Warehousing (DW) and Operational Data Store
(ODS)
technologies to collect, store and manage the banks operational data that
support comprehensive Business intelligence applications. The system is an
extension of the Big Four bank's national data management platform to the
provincial branch level. As the leading partner of the Big Four bank, Longtop
has been working on its ODS project at the headquarter level since 2006 where
it deploys more developers than all other IT vendors.
"This contract demonstrates our ongoing success in expanding and deepening
IT solution business with our existing Big Four customers and thus creating
recurring revenue opportunities," remarked Weizhou Lian, Chief Executive
Officer of Longtop. "This contract also extends our market leadership in
Management-Related IT solutions area."
One of the fastest growing areas in China's banking IT solution market in
the next five years, according to market research firm IDC, is Management-
Related solutions, which includes Data Integration and Business Intelligence.
Longtop is the market leader in China's Management-Related banking IT solution
market with a top ranked market share of 8.11%.
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.
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 .
For more information, please contact:

Longtop Financial Technologies Limited
Charles Zhang or Huiying Yang
Tel: +86-10-8421-7758
Email: ir@longtop.com

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

SOURCE Longtop Financial Technologies Limited

Longtop Financial Technologies Limited, Charles Zhang or Huiying Yang,
+86-10-8421-7758, or ir@longtop.com; or IR Inside BV, Caroline Straathof,
+31-6-5462-4301, or info@irinside.com