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Longtop Achieves CMMI Level 5 Certification

March 1, 2010

HONG KONG, March 1 /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
it has achieved company-wide Capability Maturity Model Integration (CMMI)
Level 5 Certification for software development. CMMI is an international
standard developed by the Software Engineering Institute (SEI) to assess the
maturity of software development processes. Maturity Level 5 is the highest
rating that can be achieved under the standard.

“We are extremely proud to have joined the select group of companies
worldwide that have CMMI Level 5 certification,” said Weizhou Lian, Chief
Executive Officer of Longtop. “The CMMI Level 5 certification reflects our
commitment to continuous process improvement and providing our clients with
the highest quality software solutions and services.”

“Having certified various leading software companies around the world with
CMMI Level 5 certification, I believe Longtop is clearly a deserving recipient
of this certification. CMMI Level 5 demonstrates that Longtop is one of the
leaders in the Chinese software industry. Not only is this milestone a
significant achievement for Longtop, it also highlights the growing maturity
of the Chinese software industry as well as the continued expansion of the
CMMI as a means to benchmark organizations throughout the world,” said Henry
Schneider
, a SEI certified High Maturity Lead Appraiser with SEI Partner
Process and Product Quality Consulting (PPQC).

About SEI

The Software Engineering Institute (SEI) is a U.S. Department of Defence
federally funded research and development center operated by Carnegie Mellon
University
. The SEI helps organizations make measured improvements in their
software engineering capabilities by providing technical leadership to advance
the practice of software engineering

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 .

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.

    For more 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:   +31-6-54624301

SOURCE Longtop Financial Technologies Limited


Source: newswire



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