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Vietnam United Steel Corp. Management Concludes Successful Wall Street Visit

October 24, 2008

Vietnam United Steel Corporation (PINKSHEETS: VUSC), a leading specialty steel manufacturing company in Vietnam, announced today that the Company’s management has completed an introductory visit in the U.S. to present its growth plan to The NASDAQ OMX Group and several leading investment banks in New York and Los Angeles as well as meeting with potential joint venture and strategic partners from Illinois and Atlanta during the period from October 9 to October 17, 2008.

“Vietnam United Steel has a broad steel distribution network and close cooperation with steel trading companies in Cambodia, Japan, Malaysia, Singapore, Thailand, Vietnam, and now the United States that fully support Vietnam’s entry to the WTO, giving the Company a competitive advantage in the largest consumer market. As the company participates and competes in an increasingly global marketplace, our management team is continually strengthening our presence in Vietnam and the global market to meet world-class standards for new customers outside of the Asia region. As such, going public in the U.S. is one of the most powerful drivers for our long-term growth,” stated CEO Tran Tuan Nghiep.

“The Company is actively seeking foreign joint ventures to accelerate its organic growth while facilitating both domestic and cross-border M&A activities to broaden the scope of its core business. At the same time, we are helping Vietnam United Steel to execute its plan to increase shareholders’ values via the U.S. capital markets and listing on NASDAQ in 2009,” added Benjamin Tran, Managing Director of Providential Capital.

Vietnam United Steel Corp. is in the process of completing its financial audits to become a fully-reporting company on the OTCBB in the near future.

About Vietnam United Steel Corporation

Vietnam United Steel Corporation is a holding group of steel manufacturers with major production operations in Vietnam having an annual steel production capability of up to one hundred thousand metric tons. These subsidiary companies manufacture a wide range of GI, PPGI, pipe, GI pipe, flat and several steel pipe application products. The company product lines are widely applied in the field of industrial and civil construction, interior-exterior decoration and handicraft goods. For more information on Vietnam United Steel Corporation, please visit http://www.vusteel.com.

Safe Harbor: This news release contains forward-looking statements that are subject to certain risks and uncertainties that may cause actual results to differ materially from those projected on the basis of such forward-looking statements. Such forward-looking statements are made based upon management’s beliefs, as well as assumptions made by, and information currently available to, management pursuant to the “safe-harbor” provisions of the Private Securities Litigation Reform Act of 1995.

 Contact:  An Vu V.P. (714) 843-5450 Email: Email Contact

SOURCE: Vietnam United Steel Corporation




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