Longtop Awarded SWIFTReady 2010 Payments Label

HONG KONG, Sept. 28 /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 it has been awarded the SWIFTReady 2010 Payments label from the Society for Worldwide Interbank Financial Telecommunication (SWIFT) for its E@able SWIFT solutions.

SWIFT operates an annual program to certify third-party software applications for the financial services sector against SWIFT requirements, using stringent criteria to validate the expertise, security and resilience of SWIFT service providers. Certified applications are awarded a SWIFTReady application label when they demonstrate compliance with SWIFT standards, messaging services and connectivity. With a certified SWIFT solution, Longtop is able to deliver to its banking customers interoperability between their existing systems and the SWIFT network in payment applications that these customers rely on for secure payments.  

"We are honored to achieve the SWIFTReady payment certification that validates the world-class quality of our settlement and payment solutions. Our efforts to achieve important global industry standards such as SWIFTReady compliance underscore our commitment to provide the best possible services to our customers and help them to conduct their business activities optimally," said Weizhou Lian, Chief Executive Officer of Longtop.

Longtop is a market leader for banking settlement and payment solutions. According to the independent market research firm IDC, Longtop ranked #1 for banking settlement and payment solutions with a market share of 12.1% in 2009. Longtop serves six of the ten largest banks in China  with its E@able SWIFT solutions, enabling  comprehensive support for SWIFT connectivity and back-end system integration.

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995

This announcement contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by such terms as ''believes,'' ''expects,'' ''anticipates,'' ''intends,'' ''estimates,'' the negative of these terms, or other comparable terminology. Factors that could cause actual results to differ include the effectiveness, profitability, and marketability of the company's solutions; the Company's limited operating history; its reliance on a limited number of customers that  continue to account for a high percentage of the Company's revenues; risk of payment failure by any of its large customers, which could significantly harm the Company's cash flows and profitability; the ability of the Company to operate effectively as a public company; future shortage or availability of the supply of employees; general economic and business conditions; the volatility of the company's operating results and financial condition; the company's ability to attract or retain qualified senior management personnel and research and development staff; and other risks detailed in the company's filings with the Securities and Exchange Commission. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the companies and the industry. The company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or to changes in its expectations, except as may be required by law. Although the company believes that the expectations expressed in these forward looking statements are reasonable, they cannot assure you that their expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results. Any projections in this release are based on limited information currently available to us, which is subject to change.

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 years 2008 and 2009. 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 .

SOURCE Longtop Financial Technologies Limited

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