Hanoi, September 8, 2005 Thailand's Mustang Technologies and Vietnam's CT-IN agree offshore Software Development Collaboration.

       For Immediate Release: September 8, 2005

      Thailand’s Mustang Technologies and Vietnam’s CT-IN Agree Offshore Software Development Collaboration.

      (Hanoi, Vietnam) – Mustang Technologies, a leading provider of software services in Thailand, announced today that Vietnam’s Joint Stock Company for Telecoms and Informatics, CT-IN, a subsidiary of Vietnam Post and Telecommunication, has agreed to collaborate with Mustang Technologies by outsourcing the development of software applications for Mustang’s global customers. The companies will also pursue joint projects.

      Mustang Technologies Founder and CEO, Charles J. Kathrein, added, “We are delighted that CT-IN has agreed to be Mustang’s strategic partner by establishing an Offshore Software Development Center for Mustang’s clients. This partnership gives Mustang access to CT-IN’s expertise and resource pool to mitigate the tight ICT labor market in Thailand, thus allowing Mustang to scale operations much more quickly than only relying on the Thailand resource pool. CT-IN has a track record of success in Vietnam, and they have an impressive portfolio of global clients that complements Mustang’s impressive portfolio of global clients; therefore, the collaboration between Mustang and CT-IN will create significant synergies. The seed for this collaboration was planted at Bangkok’s ICT EXPO 2005 by ASOCIO’s active promotion of business match-making within the Asia region.”

      CT-IN Vice Chairman of Management Board and Deputy General Director, Hoai Van, added, “This collaboration with Mustang will extend CT-IN’s global reach by taking advantage of Mustang’s proven track record of acquiring top quality global clients in Europe and the United States, and contribute towards CT-IN’s objective of becoming the Software Development Center of Excellence in Vietnam. We are pleased that our association with ASOCIO has facilitated this collaboration.”

      About Mustang Technologies:
      Mustang Technologies is a privately owned, Thailand Board of Investment promoted, technology company that focuses on providing outsourced software and e-commerce services. Mustang Technologies operates a software factory in Software Park Thailand, near Bangkok, Thailand, that offers high quality, affordable software development services in one of the world’s most popular tourist destinations. Mustang Technologies’ MUSTANG COD MODEL gives global clients, looking for affordable alternative to in-house software development, an opportunity to manage their software development projects using highly skilled, affordable, local development teams. Mustang Technologies’ senior management team has more than 50 years experience in the Information Communication Technology (ICT) industry.

      For more information please visit our website: www.mustang-technologies.com

      For more information please contact: Charles J. Kathrein, Founder and CEO E-mail: charles.kathrein@mustang-technologies.com

      About CT-IN:
      CT-IN is a member of Vietnam Posts & Telecommunications Corporation, taking leadership in providing Telecommunications and IT services and products.

      The rapid development of CT-IN since its establishment in 1972 has been achieved thanks to its business focus on customers' needs, on quality of products and services, on development of the market, infrastructure, technology, and staff qualification. CT-IN is presently acting as the leading provider of telecommunication and IT network equipment installation and maintenance services. This is mirrored by trusts of 61 Provincial Posts & Telecommunications, mobile operators such as GPC and VMS, and other customers inside/outside of VNPT.

      To build a brand name for CT-IN we always look at the company management works. Focus of our activities is to bring high quality products and professional services to our customers, to satisfy their needs and to effectively implement projects for them.

      The success of CT-IN has been continuously achieved also thanks to its policies for training and education of its human resources. CT-IN’s professionals are the most valuable assets of the company. Many of them achieved highest degrees and skills in Business Administration, Science and Technology, Hardware and Software professions.

      The customers are the center of the company activities. This strategy has gained trust of CT-IN's customers from P&T of 61 provinces and cities. During the past years, CT-IN’s turn over and profits have been raised gradually and always exceeded its yearly target plans submitted to VNPT.

      CT-IN enjoys healthy relations with local and international partners. We value our partners as they play a key role in presenting our products to the end-user. They also help us to strengthen our presence in the country. Over the years, we have developed a relationship based on trust and mutual benefit with out partners. As the CT-IN family augments its position from strength to strength, we constantly add more value to our services and strive for total customer satisfaction.

      The short name of CT-IN has been known widely, nationally and internationally.

      For more information please visit our website: www.ct-in.com.vn

      For more information please contact: Nguyen Hoai Nam, Head of Outsourcing Division, CT-IN E-mail: namnh.it@ct-in.com.vn

      About ASOCIO (Asian-Oceanian Computing Industry Organization) www.asocio.org

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