Longtop Named No. 1 Market Share Leader for Banking and No. 2 for Insurance IT Solutions in China

HONG KONG, Aug. 10  /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 that independent industry analyst firm IDC has named it the No. 1 market share leader in China's Banking IT solution market in calendar year 2008 with a market share of 5.7%. Longtop was also named by IDC as the No.2 market share leader in China's Insurance IT solution market in calendar 2008 with a market share of 10.7%.

  Within the banking sector:

  -- Longtop achieved No.1 market share for Management related solutions,
     with market share increasing to 11.4% in 2008 from 8.1% in 2007. Within
     Management related solutions, Longtop is ranked No.1 for Business
     Intelligence (BI) and Customer Relationship Management (CRM) solutions
     in this category with market share of 30.5% and 18.4% respectively.
  -- Longtop achieved No.1 market share for Settlement and Payment solutions
     in the business related solution category with a market share of 14.2%
     in 2008; and
  -- Longtop achieved No. 3 market share in the Channel related solution
     category with market share increasing to 4.4% in 2008 from 3.9% in 2007.




Within the insurance segment which includes Sysnet, a leading insurance IT services provider acquired by Longtop:

  -- LongtopSysnet achieved No.2 market share for Management related
     solutions;
  -- LongtopSysnet achieved No.3 market share for Channel and Document
     related solutions; and
  -- LongtopSysnet achieved No.3 market share for Property Insurance Core
     Business solutions and No.5 for Life Insurance Core Business solutions;




"These No. 1 and No. 2 rankings are a strong endorsement of our winning track record in delivering high quality IT solutions to our customers in China's financial service industry and our success in diversifying our business model as we are the only service provider in China that is in the top ten for both banking and insurance verticals.  We believe that by continuing to improve our products and expand our customer base we can further increase our market share," said Weizhou Lian, Chief Executive Officer of Longtop.

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.

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 has six solution delivery centers, three research and development centers and seventy-five ATM service centers located in 27 provinces throughout China. For more information, please visit: http://www.longtop.com/ .

  For more information, please contact:

  For Investors:
   Longtop Financial Technologies Limited
   Charles Zhang, CFA
   Email: 
   Phone: [phone]

  For Media:
   IR Inside BV
   Caroline Straathof
   Email: 
   Phone: [phone]


DATASOURCE: Longtop Financial Technologies Limited



CONTACT: For Investors: Longtop Financial Technologies Limited, Charles

Zhang, CFA at  or [phone]; For Media: IR Inside BV,

Caroline Straathof at  or [phone]



Web site: http://www.longtop.com/ 

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