Longtop Awarded Contract to Provide Business Intelligence Solutions to Leading Brokerage Firm in China

HONG KONG, July 13 /PRNewswire-Asia/ -- Longtop Financial Technologies Limited ("Longtop") (NYSE: LFT), a leading software developer and solutions provider targeting the financial services industry in China, today announced that the Company has won a contract from a leading brokerage firm in China to provide Business Intelligence (BI) solutions.

Under the contract for the initial phase of the project, Longtop will design and implement a centralized data warehouse to support the customer's current and future analytical applications; integrate data from its transaction and other business systems; and develop an initial data quality management platform.

"We are pleased to win our second major contract in the capital market vertical for Longtop this year, following the April contract with a leading national securities depository and clearing house," commented Weizhou Lian, Chief Executive Officer of Longtop. "The contract win demonstrates growing momentum in leveraging our strong BI position in banking and insurance to expand into the securities brokerage industry."

Independent market research firm IDC ranks Longtop the No. 1 vendor in banking BI solutions with a market share of 30.5%, followed by a 10.7% share for the No. 2 player, in its 2008 report "China Banking Industry IT solution 2009-2013 Forecast and Analysis". IDC expects a compound annual growth rate of 19.2% for banking IT solutions in China in the period 2009-2013, with BI solutions among the fastest growing sectors.

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About Longtop Financial Technologies Limited

Longtop is a leading software development and solutions provider targeting the financial services industry in China. Longtop develops and delivers a comprehensive range of software applications and solutions with a focus on meeting the rapidly growing IT needs of the financial services institutions in China. Longtop is the highest ranked Chinese financial technology provider on the Global FinTech 100 survey of top technology partners to the financial services industry. Independent research firm IDC has also named Longtop the No.1 market share leader in China's Banking IT solution market and the No.2 market share leader in China's Insurance IT solution market in calendar year 2008. Headquartered in Beijing, Longtop has six solution delivery centers, three research and development centers and 95 ATM service centers located in 27 out of 31 provinces in China.

    For more information, please visit: http://www.longtop.com .

    For more information, please contact:

    For Investors:
     Longtop Financial Technologies Limited
     Charles Zhang, CFA
     Email: [email protected]
     Tel:   +86-10-8421-7758

    For Media:
     IR Inside BV
     Caroline Straathof
     Email: [email protected]
     Tel:   +31-6-5462-4301

SOURCE Longtop Financial Technologies Limited