Chinasoft

completed

_x000C_Chinasoft International Limited (Chinasoft or the company) is a Chinese IT services firm providing solutions and software to the domestic market, with a particular focus on government and state-linked customers. The company’s clients include the State Bureau of Auditing, the General Administration of Quality Supervision, Inspection & Quarantine, the State Tobacco Control Bureau and the six largest Economic Technology Development Areas (“ETDAs”) in China. Chinasoft is headquartered in Beijing with branch offices and delivery centers in six cities. The company was established in April 2000, when 20 key management staff left China National Software & Technology Service Corporation (“CS&S”) to start the company. CS&S is a 42% state-owned enterprise (“SOE”) that is regarded as one of the country’s best established software companies and is listed on the Shanghai stock exchange. Chinasoft was publicly listed on the Hong Kong Stock Exchange’s Growth Enterprise Market (“HK GEM”) in June 2003. For the year ended December 31, 2004, Chinasoft generated revenues of $35.5 million, EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) of $5.5 million and net income of $4.3 million.