Mr. Olli-Pekka Kallasvuo, Chief Executive Officer, Nokia and Dr. John Deng, Chairman and CEO, Vimicro Corporation

On September 9, 2006, Chinese Premier Wen Jiabao led a delegation to attend the third annual EU-China Business Summit in Helsinki, Finland. The theme of this year's event was "Boosting Innovations - The New Era of the EU-China Economic Cooperation." Keynote speakers at the summit were Premier Wen and Finland Prime Minister and European Council President Mr. Matti Vanhanen. During the event, Dr. John Deng, Chairman & CEO of Vimicro (NASDAQ: VIMC) and Mr. Olli-Pekka Kallasvuo, CEO & President of Nokia, discussed cooperation between Vimicro and Nokia. Dr. Deng and Mr. Kallasvuo also presented as the representatives of Chinese and EU business enterprises.

In his speech, Dr. Deng emphasized the importance of cooperation between the EU and China in driving technological innovation and accelerating development. As the first IC design company listed on NASDAQ, Vimicro has acquired global market share through its innovative core technology and attaches great importance to innovation and its development in the international market. "We have been developing close relationships with international customers such as Philips and Logitech in the PC multimedia processor market," Dr. Deng said, "Additionally we have been working closely with Nokia and Ericsson through the Mobile Industry Processor Interface (MIPI) Alliance to establish global 3G multimedia platform standards." Mr. Kallasvuo's speech highlighted that while the EU currently has an edge in technology, with China's rapid development and vast population, there are significant opportunities for China and the EU to cooperate in the future.

Key topics discussed at this year's summit included enhancing the environment for innovation, strategies for sustainable development, and globalization of the world economy. Since 2005, the Chinese government has stated that technological innovation and international cooperation are top priorities for the country and has encouraged enterprises to play a key role in this development. Premier Wen has commented that trade cooperation between China and the EU is now a priority, but tomorrow's focus will concentrate on scientific and technological cooperation.

About Vimicro
Vimicro International Corporation is a leading fabless semiconductor company in China that designs, develops and markets proprietary embedded multimedia signal processing chips and solutions that enable multimedia applications for mobile phones over 2.5G/3G networks and PCs over broadband Internet.
http://www.vimicro.com/english