Longtop reports Chinese bank contract win

Source: Longtop Financial Technologies

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 Big Four Bank client in China to upgrade its Enterprise Customer Management Information System.

The system manages large amount of the bank's enterprise customer information, such as customer profile, affiliations, credit lines, as well as products and intermediary services offered. It is an important management tool that helps the bank understand and analyze enterprise customers' needs. Longtop developed the customized solution for this bank in 2007. In the current Phase Two of the project, Longtop will upgrade the system with enhanced features and optimize its performance.

"We are very pleased that our long-term working relationship with leading banks in China creates recurring revenue opportunities, of which this contract is another good example," remarked Weizhou Lian, Chief Executive Officer of Longtop. "Our ongoing involvement for this client in management related banking IT solutions also supports our independently recognized market leadership in this field."

With comprehensive solutions that address China's fast growing financial IT solutions market, Longtop has strong expertise and market leadership for the management related banking IT solutions. According to the market research firm IDC, Longtop ranked No.1 for management related banking IT solutions in 2007, with a market share of 8.11%.

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