November 25, 2009
Daiwa SMBC Capital Co., Ltd.
Daiwa Institute of Research Ltd.
Daiwa Securities Group Inc.
New Business Collaboration with Saigon Securities Inc.

Attention
This document is an unofficial translation of a press release announced on November 25, 2009by Daiwa SMBC Capital Co., Ltd., Daiwa Institute of Research Ltd., and Daiwa Securities
Group Inc. The original press release is in Japanese.
Daiwa Securities Group Inc. and Saigon Securities Inc. (“Saigon Securities”) has signed theBusiness Alliance Agreement in June 2008. Under the terms of the Agreement, both parties
are working together as strategic partners on business opportunities related to Vietnam.
Today, Daiwa SMBC capital Co., Ltd. (“Daiwa SMBC Capital”) has agreed with SSI AssetManagement Co, Ltd, (“SSIAM”), a wholly­owned subsidiary of Saigon Securities tocommence operations of an unlisted­share investment fund (the “Fund”) targetinghigh­growth companies in Vietnam.
Vietnam is a young and fast­growing country with a population of 85 million and the averageage of 26 years. It enjoys one of the highest economic growth in Asian countries and isincreasing its presence in emerging countries as a prime candidate for a China­plus­onestrategy.
Owing to rapid improvement of platforms for unlisted­share transactions such as
establishment of the UPCOM over­the­counter market in June 2009, attractiveness of private
equity investments in Vietnam has been increasing year by year.
The Fund will be jointly managed by Daiwa SMBC Capital and SSIAM which manages one of
the biggest onshore funds in Vietnam. The Fund will make growth­capital investments inVietnam by leveraging experiences and knowledge of both companies and pursue highperformance.
In relation to this, Daiwa Institute of Research Ltd. has been supporting Saigon Securities
through the joint research project on Vietnamese market and the trainee program for younganalysts. Also since this July, Daiwa Institute of Research Ltd. is providing IT consulting
service to for the next generation main system of Saigon Securities.

The Daiwa Securities Group focuses on “Expanding Business in Asia and EmergingCountries” in its Medium­Term Management Plan, “Passion for the Best” 2011. Bystrengthening alliance with Saigon Securities, the largest securities company in Vietnam, weaim to enhance businesses in Vietnam, where medium to long­term economic growth isexpected to be strong.

Summary of the FundNameDSCAP－SSIAM Vietnam Growth Investment Fund LLC

Registration

Cayman IslandsSize

JPY 800 million (At the time of establishment)
Targeting JPY 5­10 billion on the final closing

Commencement of Operations

December 2009 (expected)

Term

7 years from establishment

Investment TargetHigh­growth companies related to domestic­demand expansion andconsumptionHigh­growth companies which are potential partners with Japanesecompetitive sectors

Summary of Saigon Securities
Company Name

Saigon Securities Inc.（HOSE listed）

CapitalVND 1.5 trillion (approx. JPY 7.7bil)

Establishment

December 1999

Representative

Nguyen Duy Hung (CEO)Business

Securities business

Websitehttp://www.ssi.com.vn

Summary of SSIAM
Company NameSSI Asset Management Co, Ltd,

CapitalVND 30 billion (approx. JPY 150mil)

Establishment

August 2007

Representative

Dang Thi Hong Phuong (CEO)Business

Fund management and investment advisory

Asset Under Management

Approx. VND 3.0 Trillion (approx. JPY 15bil)

Websitehttp://www.ssiam.com.vn