VIETNAM HOLDING

BOARD OF DIRECTORS

Board of Directors

The Board of Directors makes all policy decisions on investment policies, portfolio allocations, investment risk profiles, capital increases and profit distributions to shareholders. The board consists of three members, and has two committees, an Audit Committee and a Corporate Governance Committee.

The board appoints the investment manager and is also responsible for reviewing the performance of the portfolio and investment policy. In particular the board also must approve of all investments which are over 4% of NAV.

The Audit Committee is responsible for appointing the external auditors, subject to shareholder approval, and reviewing the results of all audits. It is also responsible for establishing internal business controls and audit procedures.

The Corporate Governance Committee is responsible for the governance of VNH and the company’s relationships with multiple constituents, including VNHAM and its affiliates.

Min Hwa Hu Kupfer
Chairperson

Most recently the President of GE Capital in China, Mrs. Kupfer has served in several senior executive positions in banking and management throughout the world. Her banking career includes many years with Bank One as Senior Vice President and Head of Middle Market and Retail Strategy, as well as the First National Bank of Chicago where she served as Country Manager, China. During that assignment, Mrs. Kupfer held the highly visible Chairmanship of the American Chamber of Commerce in China, the first female executive to hold such a position in that country. She has a broad and deep insight into many parts of Asia, having travelled extensively for business within South-East Asia while based in Singapore. Mrs. Kupfer holds a BS degree from the National Taiwan University, an MS from the University of Illinois, and an MBA from the University of Chicago. She is a US citizen and was born in Taiwan.

Nguyen Quoc Khanh
Head of the Audit committee

Mr. Khanh completed his studies in France with a Masters in Mining Engineering, and spent his entire professional career with the Shell Group. He held several senior management and finance positions in many countries, before serving as Chairman and CEO of Shell Vietnam from 1996 until 2002. Mr. Khanh is on the board of the Dutch-based East West Seeds Group which has a private equity joint venture with a Vietnamese partner, as well as Leighton Asia Ltd, an Australian based construction and engineering Company. He lives in France and in Vietnam, and is an active private equity investor.

Professor Rolf Dubs
Head of Corporate
Governance committee

Professor Dubs is the former President of the HSG University of St. Gallen, Europe's leading German-speaking economics university. He also taught at Harvard and Stanford universities, as well as several other leading global institutions. Outside the classroom, Professor Dubs has a long record of service on the corporate boards of many major Swiss and international corporations. For many years, he has taken an active role in numerous Swiss government projects in Vietnam's education sector, as well as in providing technical assistance to the country's financial markets.