HONG KONG, Nov. 25 /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 signed a contract with the asset management subsidiary of a leading life insurance group in China to upgrade its Corporate Data Warehouse (CDW).

The existing CDW, which has been developed by the customer's internal IT department, is a critical part of its IT infrastructure that supports the customer's decision making. Under the terms of the contract, Longtop will provide various services including upgrading the CDW and reporting software, optimizing the Extraction-Transformation-Loading (ETL) process, as well as developing new and customized features.

"Following the acquisition and successful integration of Sysnet, we have strengthened our relationships with the largest Chinese insurance companies which has led to us winning this contract with one of their asset management subsidiaries. With insurance companies expanding their services into other verticals such as asset management, this is an example of how Longtop is positioning itself to take advantage of this growth opportunity."

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. 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 further information, please contact:

    For Investors:

     Longtop Financial Technologies Limited
     Charles Zhang, CFA
     Email: ir@longtop.com
     Tel:   +86-10-8421-7758

    For Media:

     IR Inside BV
     Caroline Straathof
     Email: info@irinside.com
     Tel:   +31-6-5462-4301

SOURCE Longtop Financial Technologies Limited

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