New Horizon

Vietnam National Tobacco Corporation (Vinataba) hereby announces:

For the purpose of becoming a robust corporations operating in the field of food industry, we have recently decided to cooperate with Sapporo Holdings Limited, a company listed on the Tokyo Stock Exchange, to establish a Joint Venture Company for producing and distributing beer and other alcoholic beverages in Vietnam, as mentioned below

Sapporo will acquire 50% of the capital contributed by available foreign partners as well as 15% of the capital contributed by Vinataba in Kronenbourg Vietnam Company Limited (KVL). After completing the purchase and registration procedures, Vinataba will hold 35% and Sapporo 65% capital of the new Joint Venture company under the designed name of Sapporo Vietnam Limited. Sapporo Vietnam Limited, with the charter capital of US$39 millions, is to build a production plant at Viet Hoa Industrial Park, Duc Hoa 3, Long An Province. Its capacity is expected to reach 150 million liters per year. This project is expected to use production technology of Japan to produce beverages with Vietnamese flavors.

Sapporo is one of the four major brewery companies in Japan, which was incorporated more than 130 years ago, restructured into Sapporo Holdings Limited by July 2003, a multi-industry corporation. Currently, Sapporo owns the leading Japanese brewery brands such as Yebisu and Black Label, which are famous in Japan and many countries around the world.

Address: 20-1, Ebisu 4 - Chome, Shibuyaku,Tokyo Japan.

Representatives and positions: Mr. Takao Murakami, President and Group CEO.

+ Capital: 54 billion yen, equivalent to $ 600 millions.

+Scope of activities: Production of alcoholic beverage, restaurants and real estate.

+ Revenue 2008: 415 billion yen equivalent to $ 5 billions.

+ Profit 2008: 15 billion yen approximately $ 163 millions.

With experience, technology and leading beer brands of an international brewery plant and associated with the distribution system of a leading state corporation in the field of food industry, this Joint venture hopes to rapidly get a firm position in the Vietnamese beer market, which is developing with an attracting growth rate of approximatedly 10% per year.