The editor board of website www.petrolimex.com.vn hereby respectfully introduces the full text of that speech, as follows:

SPEECH

BY DR.BUI NGOC BAO

CHAIRMAN OF VIETNAM NATIONAL PETROLEUM GROUPAT THE CEREMONY TO PRESENT THE GROUP AND THE RECOGNITION OF THE BRAND

(Horizon Hotel, Hanoi, 12^thJanuary 2012)

H.E.Mr. Vu Huy Hoang, Minister of Trade and Industry

Distinguishedguests,

Onbehalf of the leadership and staff of Vietnam National Petroleum Group, I wouldlike to welcome all of you to this important ceremony of presenting theidentification of Petrolimex brand name and logos.

Iwould like to thank you for your presence at this important meeting ofPetrolimex.

Bestwishes to you for a New Year of good health, happiness and achievement.

Distinguishedguests,

Inimplementation of the Prime Minister’s guidance at document 373/TB-VPCPof 31 December 2009, Decision 828/QD-TTg of 31^st May 2011 by thePrime Minister approving the scheme of equitization and restructuring ofVietnam National Petroleum Corporation into a multi-ownership group, VietnamNational Petroleum Group completed all necessary formalities stipulated by law,announced data, presented investment opportunities, issued shares to the publicand held Shareholders General Meeting with flying colours.

Essentialdata about Vietnam National Petroleum Group are as follows:

-Registered capital: 10,700 billion Vietnamese dongs

-IPO : State-held 94.99%; public held 5,01%

-Total shares issued in 3 forms:preference for workers, public auction and by agreement: 53,598,133 shares (100% issued out = 5.01%)

-Existing shareholders ofPetrolimex: 15,167 in which 5 are institutional holders and 15162 areindividuals.

-On 20^th November 2011Shareholders General Meeting approved the Statue of The Group and elected theBoard of Management (BoM) with following persons:

(1)Mr. Bui Ngoc Bao

(2)Mr. Tran Van Thinh

(3)Mr. Dinh Thai Huong

(4)Mr. Tran Van Thang

(5)Mr. Nguyen Quang Kien

(6)Mr. Vuong Thai Dung, and

(7)Mr. Nguyen Thanh Son

The Board of Management elected Mr.Bui Ngoc Bao Chairman of BoM and appointed Mr. Tran Van Thinh as DirectorGeneral of Vietnam National Petroleum Group.

The General Meeting elected theGroup Auditor Committee comprising the following:

(1)Mr. Tran Long An

(2)Mr. Pham Ngoc Thang

(3)Mr. Dang Quang Tuan

(4)Ms Nguyen Thu Ha

(5)Ms Dang Thi Hong Ha

(6)Mr. Nguyen Vinh Thanh, and

(7)Mr. Dinh Viet Tien

TheAuditor Committee elected Mr. Tran Long An Chief of Auditor Committee ofVietnam National Petroleum Group.

VietnamNational Petroleum Group has made registration of the enterprise and announcedits official operation since the 1^st of December 2011. VietnamNational Petroleum Group inherits all the rights and obligations from VietnamNational Petroleum Corporation.

Distinguishedguests,

Equitizationof Petrolimex is an important landmark on the way of socialization of theenterprise and onward to a public company.

Fromnow on, information on the Group will be published openly, periodically toshareholders and the public as provided by law.

Besides,Petrolimex will have supervision and official comments from shareholders, endusers, from the public and society so as to build Vietnam National PetroleumGroup into a strong and dynamic economic group, ensuring the harmonization ofbenefits of shareholders and the implementation of social and political missionentrusted by the Party, Government to Vietnam National Petroleum Group in therole of bearing the brunt of supplying oil to the economy.

Distinguishedguests,

Followingthe equitization, Vietnam National Petroleum Group is now restructuring incompliance with the scheme given by the Prime Minister.

Petrolimexwill continue promoting oil business in Vietnamand internationalmarkets, at first inregional markets: Singapore,Laos, and Cambodia. Oil as the blood vein ofnational economy will continue to be the core and leading goods of Petrolimex.We are determined to ensure ample supply in any circumstance for the country asdirected by the Prime Minister (in 2008). Next to downstream sector, Petrolimexwill develop the upstream sector (Refining and petrochemical) aiming atcontributing to the modernization and industrialization of the country.

Further,Petrolimex will selectively develop sectors around oil as lubricants, liquidgas (civil and industrial gas), ocean transport (both to guarantee the supplyand to economize on foreign exchange) …To concentrate on promoting ourinner strength and comparative advantage, to promote the discipline andstrength of the system, assuring the inheritance and development spirit so thatPetrolimex will actually be a strong and dynamic economic group.

Petrolimexofficially commenced the enterprise Resource Program (ERP) from the 4^thJanuary 2012 at the holding company and will continue the program in the membercompanies as scheduled. This is an advanced management program applied by manymultinational groups for maximal effective management of the enterprise. Datain the ERP will be strictly, simultaneously and legally managed for themanagement, operation and publication.

Distinguishedguests,

Togetherwith business development and resource management, since 2008 Petrolimexinitiated the promotion of brand and logos. With the support of first classbrand partner, after a year of scrupulous implementation of the contract, theJWT contractor has completed all important items of the project, namely:

(1)Strategy on Petrolimex brandpromotion.

(2)Identification system of Petrolimexbrand.

(3)Procedure for the management ofPetrolimex brand.

(4)Enterprise culture and a code of conduct

Over55 years of building and maturing, generations of leaders, officers and workersover various stages have tirelessly contributed their efforts and even bloodand bone to have built the brand of Petrolimex, well known and prestigiousbrand at home and abroad.

Thepresent generation of leaders, officers and workers respect and inherit theprecious values. The new identification of Petrolimex brand originates from theprinciple of inheritance and development.Along the self conscious and proud imbuement of the above by Petrolimexstaff, the Neilsen study pointed out that the brand of Petrolimex is the prideof the Vietnamese. Thus, Petrolimex lies in the blood and bone link of thecountry and people of Vietnam.

Toput in a nutshell, the brand comprises two words: Confidence and love. To havethe confidence and love, there must be an ardent desire and an untiring andstaunch endeavor. To set up a brand is difficult; to maintain and develop thatbrand requires the determination of the whole system from the highest leader tothe most modest worker. This must be achieved. This is our obligation for thepast as well as the future.

Theidentification system Petrolimex is now unfurling is to restructure the imageof Petrolimex itself and its member companies so as to advance to an economicgroup. Logos of many former Vietnam National Petroleum Corporation are nowstandardized into two groupings of oil and non oil in the principle ofuniformity and high profession .and at the same time ensuring the uniquecharacter of each member company.

Theidentification system of Petrolimex at the same time creates the distinctionbetween Petrolimex and other source enterprises; between Petrolimex and thechain of agents, general agents and other enterprises not in line withPetrolimex in order to overcome the misunderstanding which frequently occurredrecently.

VietnamNational Petroleum Group has made new registration in Vietnam and in some othercountries; and at the same time we reserve the right of property of old brandsin order to avert violations of Petrolimex brand With legal protection of thebrand, with our positive protection of brand, logos, images and prestige, weare confident to successfully establish the distinction of the brand.

Distinguishedguests,

Vietnam National Petroleum Group is conscious that:it is nonsense just to have a beautiful appearance.

Thatis why in the time to come, the Group will concentrate on checking allprocedures, norms; to intensify the supervision and self supervision; tocomplete the procedure of management and control, especially the pointssusceptible for irregularities; resolutely dismiss or fire any individual whocommit fraud, irregularity for personal benefit affecting the interest of endusers and the image and prestige of Petrolimex.

Parallelto that, Petrolimex concentrates its efforts to build the enterprise culture andcode of conduct at all member companies, giving merit to good deeds and goodpeople and improve the management of brand name.

Brandname is the process and the work of all member of the organization.

Weare determined to build the Petrolimex brand image closely linked withquantity, quality and advanced culture. This is just the content and the meaningof the brand which Petrolimex is consolidating and promoting.

Distinguishedguests,

Humanbeing is the focal point of Petrolimex. The enterprise itself is just theenvironment for individuals to live and work, to express his/her responsibilityand virtue. The work of training and self education is important. Besides thework of education and propaganda of social and political units of theenterprise, Petrolimex determines that the building of enterprise culture playsa very important role in moving further.

Distinguishedguests,

Withthe core value of “Inheritance-Progress-Identity-Diversity”,with the character of “Responsibility-Determination-Optimism-Confidence”over the past 55 years, with a vision of “moving further”of Petrolimex generation of today, leadership, officers and workers areprofoundly confident that we shall retain your confidence and love.

Distinguishedguests,

Youhave seen the new appearance of Petrolimex oil stations. Brighter, morebeautiful and spacious. Each station is the destination of end users and is theconvergence of customers’ confidence in terms of quality ofgoods and services.

Togetherwith the change in identification of brand, in the year 2012 Petrolimex willconcentrate on the completion of procedures and norms, put the code of conductinto life as the standard, determinedly and successfully build Petrolimexadvanced and nationalistic culture

Distinguishedguest,

Togetherwith the equitization and restructuring of Petrolimex , the leadership of VietnamNational Petroleum Group determines that the development of infrastructure andmarket , the implementation ofERP andthe promotion of brand name are the 3 spearheads for Petrolimex to build astrong and dynamic economic group, worthy of shareholders confidence,customers, partners and the public.

VietnamNational Petroleum Group hereby officially announces the new identification ofPetrolimex brand and logos

Theceremony announcing the new identification of Petrolimex is the commitment ofquality of goods and services provided by Petrolimex to all end users, partnersin and out of the country

Onthis occasion, on behalf of the collective leadership, officers and workers ofPetrolimex, I would like to express our gratitude to the leaders of the Party,Government, Ministries, Departments of various sectors, authorities of alllevels, shareholders, partners in and out of the country, press agencies,journalists and correspondents for their close attention and support for theformer Vietnam National Petroleum Corporation and the Vietnam NationalPetroleum Group now to accomplish the mission entrusted.

Iwould like to express my since gratitude to the governments and peoples of Laos, Cambodiaand Singapore for theirfacilitations and support for Petrolimex to be present and do business,contributing to the economic development and the strengthening of friendlycooperation between Vietnamand regional countries.

Onthe occasion of the Lunar New Year 2012, best wishes of good health, happinessand achievement.

Dr.BUI NGOC BAO

Chairmanof Board of Management