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Project background Nam Long VCD Corporation (Nam Long VCD) is the master developer of an international-standard planned community of 355 ha for 8,800 households and 20,500 people, Vam Co Dong New Urban Township at Ben Luc, Long An Province in the greater Ho Chi Minh City area. Vam Co Dong New Urban Township is a large real estate development project with a combination of commercial departments, retail, business park, hospital, country club house, golf course with condominiums, villas, town houses, residential department, port, marina, university and schools to serve the district as well as other regions such as Mekong Delta region and Ho Chi Minh City.

The new international school will be in a position to offer education at any or all levels from pre-school to upper secondary (i.e. K-12), and could take the form of separate campuses – or even separate schools – for elementary, secondary and senior secondary classes. A superbly located site of 3.74 ha is available for development.

Nam Long Investment Corporation is now seeking strategic domestic and/or foreign investors to help develop this key part of the Nam Long – Vam Co Dong New Urban Township development. The company seeks expressions of interest from investors and operators to form a partnership with the company to develop an international school or schools on the site. The parties would enter into an in-principle Memorandum of Understanding with Nam Long and then undertake a joint feasibility study with Nam Long VCD and its consultant, Learning Cities International. If the results of that study were favourable, the parties would move to a detailed agreement for joint development of the campus and independent school operations. There is wide scope to form and operate the international school or schools to the plans of the successful partner entity.

Greater Ho Chi Minh City region’s new education hub Located on the fast-growing western side of Ho Chi Minh City close to Saigon South, the modern side of the city, Vam Co Dong New Urban Township

development and the surrounding Ben Luc areas’ advantages include:

Figure 1: Location of Vam Co Dong New Urban Township development

Currently:

• A 3.74 ha site in an international master planned community, with favourable transfer or lease consideration from Nam Long Corporation

• Strategic geographic location by the newly-developed National Road 1A, Saigon-Trung Luong Expressway, Nguyen Van Linh Avenue and Vo Van Kiet Avenue, which connect the project with central regions such as District 1 and Phu My Hung Residential

• 45 minutes' drive on a divided highway from District 1, Ho Chi Minh City’s downtown area

• Strong Long An Province and Nam Long VCD support for fast-track approvals.

In the near future:

• International property development standards on site and in the Ben Luc Project Area, with continuing assurances of quality, and active real estate developments in the surrounding areas, including an international theme park nearby under construction

• Adjacent to a major new business zone, potential technology park, restaurants and retail outlets in the Long An Project

• Next to a new university with potential for student transfers and shared facilities

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• Student boarding opportunities on site and in adjacent areas

• Possibility of use of country club, golf course and related recreational facilities

• Student and faculty housing opportunities on site and in adjacent areas

• Availability of quality access to infrastructure services including high-speed broadband telecommunications

• Strong district growth now and vibrant community, social and recreational facilities.

Good demand outlook The region has a very favourable investment and educational outlook.

• Ho Chi Minh City’s population of over 7m people has been growing at 3.6% annually, spilling over into Long An Province to the west.

• Long An Province is in a special position as one of the six provinces of the ‘Key Southern Economic Zone, gateway to the rice and seafood exporting zone of the Mekong Delta area.

• The GNP of Viet Nam is growing at 7% annually consistently despite world economic conditions, and the greater Ho Chi Minh City area is the one of the richest in Viet Nam per capita and the largest city region, with rising discretionary household spending. It is fast becoming one of Asia’s most dynamic regions.

• The family culture and government policy of Viet Nam give exceptionally high standing to education. There is a young and cashed-up middle class with high aspirations and ability to pay for international standard schooling.

• The government of Viet Nam and Long An Province see excellent schools as key to its economic and social future and meeting the booming demand for top-level school graduates.

• Unmet demand high-quality school places in Viet Nam is encouraging more families to seek school education overseas. Many would prefer to remain in Viet Nam and are able to afford in-country fee levels for

international or top-quality Viet Nam schools.

Possible features of the School or Schools The new international school will be in a position to offer education at any or all levels from pre-school to upper secondary (i.e. K-12), and could take the form of separate campuses – or even separate schools – for elementary, secondary and senior secondary classes. Features could include

• Viet Nam and / or international syllabus

• English-medium or bilingual (Vietnamese – English) teaching, with other languages not ruled out

• Opportunities for local, expatriate and international students

• Integrated or separate elementary, secondary and senior secondary campuses

• Option of sharing facilities (library, sports facilities etc.) with the adjacent university

• Land in Viet Nam is very difficult to get – here the site is cleared and fully compensated, and will be brought into the agreement on favourable terms

• High-income, safe, green, community and leisure lifestyle

• Ease of obtaining a licence to operate a private school, taking about 45 working days

• Other support negotiable.

Vam Co Dong New Urban Township The development of Vam Co Dong is well under way, with infrastructure works, waterfront residential, county clubhouse and golf precinct being led by international firms of architects and engineers.

• Land granting approval in 2007-2008

• Investment certificate in 2009

• Master plan approval in 2010

• Compensation and clearance completion in 2011

• Ground breaking June 2011

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Figure 2: Vam Co Dong New Urban Township master plan

Figure 3: Vam Co Dong New Urban Township development phasing, 2010-11

Figure 4: Vam Co Dong New Urban Township international school site

Investor and operator advantages The outlook is very good for prospective international schools.

Around the world international schools are established to provide education to expatriate families and to those wanting their children to be educated in a foreign language e.g. English. This is the case in this region, which has a large number of expatriates and English-speaking communities. However the fastest-growing part of the market is among Vietnamese families. Because of inadequate school standards, international schools also attract large numbers of students from families seeking the best teachers and educational facilities, and schools accredited to international standards that guaranteeing continuing quality.

• Viet Nam has high demand for international standard school education, nowhere higher than in the greater Ho Chi Minh City area, with fast-growing numbers of school age children, high enrolment rates and increasing affordability to pay international fees.

• The number of wealthy and upper middle income families is growing fast in the region

• While there is an established market in the region, with 8-30 international schools in Ho Chi Minh City (depending on definition), they are concentrated in only a few areas, districts 1, 2, 3 and 7 all but the latter quite distant for families on a daily basis. There are no international schools in Long An Province and there is a shortage of top-level local schools, private or private.

• The development of Ben Long with upper and middle income families in the development’s attractive green setting will give rise to immediate local demand as well.

Project structure It is intended that the preferred investor-operator consider forming a joint venture with Nam Long VCD Corporation for the purpose of campus development. Construction and other aspects of the development can be done by the interested party or, at their request, by one of Nam Long’s development companies. However, the operation of the school or schools will be left mainly to the preferred company.

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Figure 5: Proposed project structure, Vam Co Dong New Urban Township international school

Project road map

Figure 6: Project road map, Vam Co Dong New Urban Township international school development

Every effort has been made to provide accurate information in this document. Nam Long VCD Corporation and its advisers are not responsible for any actions based on this information, and interested parties are advised to undertake their own investigations.

Nam Long Investment Corporation • Incorporated in 1992 and headquartered in Ho

Chi Minh city, Nam Long Investment is principally engaged in the development of residential real estate projects in Vietnam.

• The Company has 10 subsidiaries and joint ventures and operates in the major cities and provinces in Vietnam, including Ho Chi Minh City, Can Tho and Long An.

• Since 1997, the Nam Long Group of Companies has successfully completed 9 projects covering approximately 82 ha which include land bank sales and the development of over 1,500 apartments, over 500 townhouses and villas, and a 14-storey office building.

• Two strategic investors, Nam Viet (100% owned by Goldman Sachs) and Aseana Properties (a London Stock Exchange listed fund and owned by Malaysia’s leading developer – Ireka), invested in the company in 2008. In addition, Vietnam Azalea Fund Limited – a private equity fund owned by Mekong Capital (one of the largest equity fund managers in Vietnam) acquired a stake in Nam Long Investment Corporation in 2010.

• Nam Long VCD Corporation is one of the subsidiaries of Nam Long Investment Corporation and established mainly for developing Vam Co Dong New Urban Township.

Contacts Mr Steven Chu, Managing Director Nam Long VCD Corporation Capital Tower, 5B Floor, 06 Nguyen Khac Vien Street, Tan Phu Ward, District 7, Ho Chi Minh City, Viet Nam Tel +84-8 54 14 15 16 ext. 1000 Fax +84-8 54 13 14 15 steven.chu@namlongvn.com

Mr. Hoang Anh Tuan, Business Development Manager Nam Long VCD Corporation Capital Tower, 5B Floor, 06 Nguyen Khac Vien Street, Tan Phu Ward, District 7, Ho Chi Minh City, Viet Nam Tel +84-8 54 14 15 16 ext. 1805. Mobile: +84 919 817 390 Fax +84-8 54 13 14 15

Professor David Wilmoth Learning Cities International Pty Ltd 950/2 York Street, Sydney NSW 2000 Australia Tel +61 418 561 052, david@wilmoth.com.au