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Published on Tuesday, 12 February 2008

Notice of Despatch of Offer Document

Notice of Despatch of Offer Document

A.C.N. 063 656 333
A.B.N. 64 063 656 333
VIETNAM INDUSTRIAL INVESTMENTS LIMITED

12 February 2008

Company Announcements Office
ASX Limited
Exchange Plaza
2 The Esplanade
Perth WA 6000

Dear Sir/Madam

RENOUNCEABLE RIGHTS ISSUE - DESPATCH OF OFFER DOCUMENT

On 29 January 2008, Vietnam Industrial Investments Limited (the Company) announced that it would undertake a renounceable pro rata rights issue, pursuant to which it may issue a maximum of 51,660,000 fully paid ordinary shares in the capital of the Company at an issue price of A$0.15 each, to raise a maximum of approximately A$7,749,000 (before expenses of the issue).

The Offer Document dated 29 January 2008 has been despatched to Shareholders in accordance with the timetable set out in the Offer Document.

Enclosed with this letter is a copy of letters sent out to:

• Shareholders at 5.00 pm (AWDST) on 6 February 2008 (Record Date) with a registered address in Australia or New Zealand (Eligible Shareholders); and
• Shareholders at the Record Date that have an address registered outside Australia or New Zealand (Excluded Shareholders).

Yours faithfully

Alan Young
Managing Director & Chief Operating Officer

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A.C.N. 063 656 333
A.B.N. 64 063 656 333
VIETNAM INDUSTRIAL INVESTMENTS LIMITED

12 February 2008

Dear Shareholder

PRO RATA RENOUNCEABLE RIGHTS ISSUE - OFFER DOCUMENT

On 29 January 2008, Vietnam Industrial Investments Limited (the Company) announced that it would undertake a renounceable pro rata rights issue, pursuant to which it may issue a maximum of 51,660,000 fully paid ordinary shares in the capital of the Company (New Shares) at an issue price of A$0.15 each, to raise a maximum of approximately A$7,749,000 (before expenses of the issue) (Offer).

Please find enclosed with this letter the Offer Document dated 29 January 2008 along with your personalised Entitlement and Acceptance Form with respect to the Offer. The details of the Offer are set out in the Offer Document. I encourage you to read the Offer Document in full.

As a Shareholder with a registered address situated in Australia or New Zealand (Eligible Shareholder), who is registered at 5.00 pm (AWDST) on 6 February 2008, you may:

• take up all your entitlement to subscribe for New Shares under the Offer (Entitlement);
• allow all or part of your Entitlement to lapse;
• sell all your Entitlement as rights to subscribe for New Shares pursuant to the Offer (Rights) on the ASX;
• take up part of your Entitlement and sell the balance on the ASX,
• take up part of your Entitlement under the Offer and allow the balance to lapse; or
• transfer all or part of your Rights to another person other than on the ASX provided that the purchaser is not a Shareholder with a registered address situated outside Australia or New Zealand (Excluded Shareholder) or would not be an Excluded Shareholder if the purchaser was the registered holder of the Shares.

Your Rights may have value. Should you decide not to take up all or part of your Entitlement, you should consider selling your Rights rather than allowing the Rights to lapse. Rights which are not accepted, traded or transferred will lapse and you will receive no benefit. Please contact your financial adviser if you have any doubt as to how to deal with the Offer. Rights trading on the ASX under the code VIIR commenced on 31 January 2008 and will cease at the close of trading on 19 February 2008.

Applications for the New Shares under the Offer may only be made in accordance with the Offer Document and the Entitlement and Acceptance Form which accompanies the Offer Document. Completed Entitlement and Acceptance Forms must reach the Company's Share Registry by no later than 5.00 pm (AWDST) on 26 February 2008.

Yours faithfully

Alan Young
Managing Director & Chief Operating Officer

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A.C.N. 063 656 333
A.B.N. 64 063 656 333
VIETNAM INDUSTRIAL INVESTMENTS LIMITED

12 February 2008

Dear Shareholder

PRO RATA RENOUNCEABLE RIGHTS ISSUE - EXCLUDED SHAREHOLDERS

On 29 January 2008, Vietnam Industrial Investments Limited (the Company) announced that it would undertake a renounceable pro rata rights issue, pursuant to which it may issue a maximum of 51,660,000 fully paid ordinary shares in the capital of the Company (New Shares) at an issue price of A$0.15 each, to raise a maximum of approximately A$7,749,000 (before expenses of the issue) (Offer).

The Offer is being made Shareholders whose registered addresses are situated in Australia or New Zealand, and are registered at 5.00 pm (AWDST) on 6 February 2008, on the basis of one (1) New Share for every two (2) fully paid ordinary shares in the capital of the Company (Shares) held (Offer).

In accordance with the ASX Listing Rules, the Company has given regard to:

• the number of shareholders outside of Australia and New Zealand;
• the number and value of the securities to be offered to shareholders outside of Australia and New Zealand; and
• the cost of complying with the legal requirements and requirements of regulatory authorities in the overseas jurisdictions,

and considers that it would be unreasonable to make an offer to Shareholders who have a registered address in a country outside of Australia and New Zealand (Excluded Shareholders). Accordingly,
the Offer will not be made to Excluded Shareholders.

Given your registered address is in a country outside of Australia and New Zealand, you will not be eligible to participate and will be an Excluded Shareholder for the purposes of the Offer. The Company has appointed an ASIC-approved nominee, Euroz Securities Limited ("Nominee"), as nominee for the Excluded Shareholders to arrange for the sale of the rights to subscribe for New Shares pursuant to the Offer (Rights) which would have been offered to the Excluded Shareholders. The Company will transfer the Rights of the Excluded Shareholders to the Nominee who will send the net proceeds from the sale of the Rights (if any) to those Excluded Shareholders. The Rights of Excluded Shareholders will be offered for sale between 31 January 2008 and 19 February 2008. Details of this process is set out in the enclosed Offer Document, which has been provided to you for your information.

The Nominee will have the sole and absolute discretion to determine when, the price at which and the manner that the Rights may be sold. Neither the Company nor the Nominee will be subject to any liability for failure to sell the Rights or to sell them at a particular price.

If, in the reasonable opinion of the Nominee, there is not a viable market for the Rights or a surplus over the expenses of sale cannot be obtained for the Rights that would have been offered to Excluded Shareholders, then the Rights will be allowed to lapse.

Subject to the completion of the Offer, the Company expects to remit payment (if any) on or around 3 March 2008. Should you have any questions, please contact your financial adviser, the Company Secretary on (+61 8) 9322 2911 or the Company's Share Registry, Security Transfer Registrars Pty Limited on (+61 8) 9315 2333.

Yours faithfully

Alan Young
Managing Director & Chief Operating Officer

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