-Achieving Double-Digit Growth for 13 Consecutive Years- 

   Hong Kong/Beijing/Tokyo, April 10, 2009 – SinoCom Software Group (HKEx: 0299), the leader in software development outsourcing & IT support services based in China, announced its audited, consolidated financial results for the year ended December 31, 2008 (FY2008).

   According to the results, revenues for FY2008 were HK$657.8million, up 16.5% from the HK$564.5million recorded in the year 2007 and the highest in SinoCom history, while the net profit for FY2008 recorded HK$131.2 million, up 11.5% from the HK$117.6 million recorded in the year 2007, also the highest in its history. Basic earnings per share was 11.73 HK cents (2007: 10.48 HK cents) while diluted earnings per share was 11.66 HK cents, up 13.2% from 10.30 HK cents in the year 2007. With this, even under the tough business conditions brought by global financial crisis, SinoCom has successfully achieved double-digit growth for both revenues and profit for 13 consecutive years.

   Last year, despite the gloomy overall business climate, SinoCom has successfully made its way to maintain steady growth. From business segment perspective, off-shore software development services for Japanese companies continue to be SinoCom's strategic focus, and revenue from two major Japanese clients recorded approximately 16% growth, under positive influence of soaring Japanese yen currency rate. In addition to it, engineering services also posted robust growth of 37% over the previous year.

   "I am glad to see our steady growth we recorded last year, even under the tough economy", said Zhi Qiang Wang, Chairman and CEO of SinoCom Software Group. "However, this year is more challenging. I believe SinoCom needs new development strategies, to respond to the new economy environment. Off-shore outsourcing software development services continue to be our focus, and to expand the business strategically, SinoCom established a new subsidiary in Japan to develop new businesses including upstream system designing services and software package related services. Domestically, SinoCom would like to expand its Chinese business through business alliances with partners, to develop ever-growing Chinese market. SinoCom is also identifying new opportunities in US/Europe markets, where companies are re-evaluating their outsourcing strategies to India."

  "Year 2009, the financial crisis on world economy will be lasting, and our business continues to be affected by it. However, I believe such challenges also create new growth opportunities for us, too. For example, our business structure can be even more cost-effective, and there may be good M&A opportunities. By seizing those opportunities, I believe SinoCom can continue its steady growth for the coming years."

   The Summary of SinoCom Software Group 2008 Consolidated Financial Results is as shown below.  For its complete and detailed information, please refer to http://www.hkexnews.hk/listedco/listconews/sehk/20090401/LTN20090401013.pdf or http://www.sinocom.cn. 

SinoCom Software Group Ltd. Consolidated Financial Results Summary

		2008		2007
		HK$’000		HK$’000
	Revenue	657,831		564,507
	Cost of Services	(456,001)		(347,165)
	Gross Profit	201,830		217,342
	Other Income	51,505		13,834
	Other Losses	-		(7,652)
	Administrative Expenses	(86,444)		(85,033)
	Profit Before Taxation	166,891		138,491
	Profit For the Year	131,220		117,652
	Earnings Per Share (Basic)	11.73Cents		10.48Cents
	Earnings Per Share (Diluted)	11.66Cents		10.30Cents
	Total Assets	721,040		587,727

About SinoCom Software Group

  SinoCom Software Group is the leader of outsourced software development services for global customers based in China. With over 3,000 engineers, it offers off-shore software development services and IT support services for Japanese, US and Chinese companies, and particularly it has been successful in developing many mission-critical applications for leading financial services industry (FSI) companies with its unique software laboratory services. SinoCom generated revenues of 658 million HK dollars for the fiscal year that ended 31 December, 2008 and is traded under code 0299 in Hong Kong Stock Exchange Market Main Board.

  For more information, visit www.sinocom.cn.