Camelot Information Systems Announces Contract Win for Customized Enterprise Payment System

BEIJING, August 31, 2011 /PRNewswire-Asia-FirstCall/ -- Camelot Information Systems Inc. ("Camelot" or the "Company") (NYSE: CIS), a leading domestic provider of enterprise application services and financial industry information technology ("IT") services in China, today announced the availability of a new Enterprise Payment System, for which the Company has secured its first customer. The System is a component of an enterprise application suite, which enables users of major ERP systems such as SAP to run business processes more transparently and productively.

As an integral part of Camelot's new enterprise application suite that connects with a client's ERP system, this new Enterprise Payment System helps to better manage the shop floor, internal payments, and procurement, among other corporate business activities. Camelot has signed its first contract to implement an Enterprise Payment System with a leading China wireless telecommunications carrier, and the System can be used by clients in other industries as well.

"In our second-quarter conference call, we mentioned an expanded solutions portfolio of SAP-based applications for our enterprise application services (EAS) clients, and we are pleased to announce that we have successfully won our first contract for an Enterprise Payment System. A major mobile telecommunications carrier has selected Camelot's Enterprise Payment System from our enterprise application suite for its internal payment processing, which is a strong sign of validation and demonstrates the value that our new system offers for our clients," commented Mr. Simon Ma, Camelot's Chairman and CEO.

ABOUT CAMELOT INFORMATION SYSTEMS INC.

Camelot is a leading domestic provider of enterprise application services and financial industry information technology ("IT") services in China, focusing on the high end of the IT value chain. The Company is the largest domestic provider of SAP-based Enterprise Resource Planning services in China as measured by 2009 revenue and by number of SAP consultants as of December 31, 2009. Camelot also operates in other areas of the Asia Pacific region, including Taiwan and Japan. The Company provides services to a wide range of industries, including financial services, resources and energy, manufacturing and automobile, technology, as well as telecommunication, media and education.

SAFE HARBOR

This press release contains statements that may constitute "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements involve a number of risks and uncertainties that could cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the size and timing of the Company's share repurchases, its ability to repurchase shares, and market conditions, including the Company's stock price. Further information regarding these and other risks is included in Camelot's filings with the U.S. Securities and Exchange Commission, including its registration statement on Form F-1, as amended from time to time. Camelot does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.