Appointment & Investee Update

RNS Number:4320T
London Asia Capital PLC
01 November 2005


1 November 2005
                            LONDON ASIA CAPITAL PLC
                                ("London Asia")

               Investee Company announces Maiden Interim Results
                   Appointment of Group Financial Controller

London Asia Capital PLC (LDC.L), the Greater China focused investment and
merchant banking group, announces that its investee company, China Eastsea
Business Software Ltd ("Eastsea" or "the Company"), has today reported
significant growth in both sales and profitability in its maiden Interim
results.

Eastsea announced unaudited turnover up 143% to #1.8 million, with unaudited net
profits for the half year of #0.48 million, up 100%. The Company successfully
listed on Ofex in September, raising #0.9 million from institutional and other
shareholders prior to the Ofex listing.

Eastsea is a leading IT outsourcing service provider for the petrochemical/
petroleum industry in China. Its core product enhances business processes,
focusing on the oil and power and government sectors in China. Clients include
Sinopec Zhenhai, BP Ningbo, and the Ministry of Foreign Affairs.

London Asia is also pleased to announce the appointment of Stephen Lucas as
Group Financial Controller, based in our London office.

Stephen will be responsible for preparation of group accounts, stock market
reporting and compliance. He will also be involved in corporate finance
transactions within the UK, including Ofex listings and corporate advisory work.

Stephen qualified as a Chartered Accountant with KPMG in South Africa and
subsequently relocated to their London office in 2003. Stephen is also a
qualified Chartered Financial Analyst and a member of the CFA Institute.

At KPMG he most recently specialised in financial and operational due diligence,
transaction structuring and advisory work relating to mergers and acquisitions,
disposals and stock exchange listings, within KPMG's Transaction Services
practice. He has worked on a number of financial services transactions.

Commenting on Eastsea's maiden results Simon Littlewood, Chief Executive London
Asia Capital said, "We are delighted with the Company's continued strong growth
in sales and profitability, which demonstrate the reason for our investment and
for bringing it to listing on Ofex. We look forward to working with the Company
to continue to build on this growth."

Commenting on the appointment of Mr. Lucas, Jack Wigglesworth, London Asia
Chairman, said "Stephen's appointment is part of our ongoing strategy of
attracting high calibre individuals with directly applicable experience. Stephen
has worked in the financial services market in both the UK and developing
countries, and has direct experience in UK stock market and corporate finance
work, so will be actively involved in structuring and executing our corporate
transactions within the UK, working alongside our teams in China, Singapore,
Hong Kong, the US and Germany."


For further information please visit www.londonasia.com or contact:

John West/Matt Ridsdale
Tavistock Communications
Tel: [phone]


About Eastsea

Eastsea was formed in 2004 through the buyout of the IT department of Sinopec
Zhenhai Oil Refining and Chemical Company Limited (a leading oil refinery in
China), and a series of other acquisitions.

The Group provides outsourcing services including IT strategy formulation,
system design, ERP implementation, software development, business workflow
processing and system maintenance. The Group has proprietary technology on a
management platform over Internet, intranet and corporate portals, as well as on
information integration. The Group has successfully leveraged its expertise in
search engines and information management to build customized products to grow
its government IT outsourcing market. 92% of the Group's 95 staff have bachelor
degrees and above.

Oil/gas industry clients include Sinopec Zhenhai, BP Ningbo and various
subsidiaries of Sinopec. Government clients include the Ministry of Foreign
Affairs, the State Development Bank, the Ministry of Culture, the State
Development and Reform Committee and the municipal governments of Beijing,
Shanghai, Guangzhou and Ningbo. The Group's ERP project for Sinopec Zhenhai won
a prestigious National award for "Best IT Application".

For additional information, visit www.chinaeastsea.com


                      This information is provided by RNS
            The company news service from the London Stock Exchange

END
MSCUUGBAGUPAURG