Thursday, December 27, 2007

Neusoft Group's Overall Listing Plan Approved by China Securities Regulatory Commission

SHENYANG, China, Dec. 26 /Xinhua-PRNewswire/ -- Shenyang Neusoft Co.,
Ltd. (600718.SS), a subsidiary company of Neusoft Group Ltd. that is well
recognized as a leading IT solutions & services provider in China, made an
announcement today that its share-swap merger plan with Neusoft Group Ltd.
was approved by the Restructuring Committee under the China Securities
Regulatory Commission (CSRC), which indicates that the Neusoft Group's
overall listing plan brewed up over the past year was finally approved by
the CSRC for an immediate implementation. Such a promising overall listing
is an explicit indication that Neusoft has made quite a significant move in
its global expansion, which further helps lay a solid foundation for
accomplishing its objective to become an outstanding global IT solutions &
services company.

Dr. Liu Jiren, Chairman of Neusoft Co., Ltd. and Chairman & CEO of
Neusoft Group Ltd., states that the upcoming overall listing will be a
shining milestone in Neusoft's history and have a far-reaching influence on
its growth. The overall listing will help Neusoft further enhance its
company-wide governance. By leveraging the respective resources,
technologies, products, and management strength from Neusoft Group and
Neusoft Co., Ltd., the overall listing will also improve comprehensive
operational efficiency, and enable a fruitful interaction in global
operations between them. As a result, Neusoft may not only create more
customer value, but also deliver more returns to its investors. In the
meantime, Neusoft will be dedicated to becoming an outstanding, respectable
global IT solutions and services provider with worldwide strength.

It is reported that Neusoft Co., Ltd. has currently a capital stock of
RMB 280 million Yuan, among which, 50.30% is held by the holding
shareholder, Neusoft Group Ltd. Based on the merger plan, Neusoft Co., Ltd.
is to exchange its shares with Neusoft Group Ltd. at a ratio of 1:3.5 to
complete the merger. Neusoft's total capital stock will rise up to RMB 520
million Yuan after such a merger.

As shown in the up-to-date statistics, Neusoft Co., Ltd. is a leading
IT solutions & services provider in China with operations both in and
outside the Chinese market. The Company now has a high market coverage in
the fields of e- government, public facilities, and business solutions, and
has maintained a leading status in the sectors of telecom, electric power,
social security and finance for years. International software outsourcing
is another strength of the Company, which has, particularly, experienced a
high-speed growth in embedded car audio and navigation systems for its
years of development knowledge and expertise. In addition, it is the only
one in China as well as one of the several in the world that has the
capacity to develop and manufacture high-end digital medical systems such
as CT scanner, MRI, and digital X-ray systems. In its fiscal year 2006, the
Company created an annual operating income of approximately RMB 2.7 billion
Yuan. Meanwhile, as the holding shareholder of Neusoft Co., Ltd., Neusoft
Group Ltd. has maintained a No. 1 position in global software and service
outsourcing in China, witnessing a high growth for years. It has a strong
competitive edge in outsourcing from Japan, Europe, and America,
especially, in terms of embedded software, industry solutions and BPO.
That's the exact reason why the Group has been listed No. 1 in China's
offshore software outsourcing industry for years by CCID, a leading
professional market research and management consultancy in China. In 2007,
the Group ranked No.1 in Top 10 to Watch in Emerging Asian Markets by the
US-based Global Services and neoIT, and ranked top 25 among the Global
Outsourcing 100 by the International Association of Outsourcing
Professionals (IAOP).

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