BEIJING, June 30 /Xinhua-PRNewswire-FirstCall/ -- China Fire & Security Group, Inc. (Nasdaq: CFSG) (“China Fire” or “the Company”), a leading industrial fire protection product and solution provider in China, announced today that its common stock has been added to Russell 3000 Index and Russell Microcap Index when Russell Investments reconstituted its indexes on June 27, 2008.
The Russell family of U.S. indexes is designed to be a comprehensive representation of the investable U.S. equity market. These indexes are
value-weighted and include only common stocks belonging to corporations incorporated in the United States and its territories. The Russell 3000 Index measures the performance of the 3,000 largest U.S. companies based on total market capitalization, which represents approximately 98% of the investable U.S. equity market and will remain in place for one year. Russell Microcap Index measures performance of the microcap segment, representing less than 3% of the U.S. equity market.
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for investment strategies. These investment tools originated from Russell’s multi-manager investment business in the early 1980s when the company saw the need for a more objective,
market-driven set of benchmarks in order to evaluate outside investment managers. Trading activities of asset managers or funds are influenced by index component changes. As a result, being added to or deleted from the Russell Indexes, as well as variations in the weightings in the indexes, affect the market demand for the stocks of the component companies.
"We are very pleased to be included in the Russell 3000 and Microcap Indexes in the latest reconstitution. Our inclusion in the Russell Indexes will expand our visibility to the investment community as we continue to grow in the future," commented Mr. Brian Lin, Chief Executive Officer of China Fire.
About Russell
Russell Investments provides strategic advice, world-class implementation, state-of-the-art performance benchmarks and a range of institutional-quality investment products. Russell has more than $213 billion in assets under management as of March 31, 2008, and serves individual, institutional and advisor clients in more than 40 countries. Russell’s industry-leading indexes had $4.4 trillion in assets benchmarked to them as of Dec. 31, 2007. Founded in 1936, Russell is a subsidiary of The Northwestern Mutual Life Insurance Company. For more information, please visit http://www.russell.com/ .
About China Fire & Security Group, Inc.
China Fire & Security Group, Inc. (Nasdaq: CFSG), through its wholly owned subsidiaries, Sureland Industrial Fire Safety Limited ("Sureland") and Tianjin Tianxiao Fire Safety Equipment ("Tianxiao"), is a leading total solution provider of industrial fire protection systems in China. Leveraging on its proprietary technologies, China Fire is engaged primarily in the design, manufacture, sales and maintenance services of a broad product portfolio including detectors, controllers, and fire extinguishers. Via its nationwide direct sales force, China Fire has built a solid client base including major companies in the iron and steel, power and petrochemical industries throughout China. China Fire has a seasoned management team with strong focus on standards and technologies. Currently, China Fire has 52 issued patents covering fire detection, system control and fire extinguishing technologies. Founded in 1995, China Fire is headquartered in Beijing with about 500 employees in more than 30 sales and project offices throughout China.
Cautionary Statement Regarding Forward Looking Information
This presentation may contain forward-looking information about China Fire & Security Group, Inc. and its wholly owned subsidiary Sureland which are intended to be covered by the safe harbor for forward-looking statements provided by the Private Securities Litigation Reform Act of 1995.
Forward-looking statements are statements that are not historical facts. These statements can be identified by the use of forward-looking terminology such as ‘‘believe,’’ ‘‘expect,’’ ‘‘may,’’ ‘‘will,’’ ‘‘should,’’ ‘‘project,’’ ‘‘plan,’’ ‘‘seek,’’ ‘‘intend,’’ or ‘‘anticipate’’ or the negative thereof or comparable terminology, and include discussions of strategy, statements about industry trends and China Fire & Security Groups’ future performance, operations and products. This and other ‘‘Risk Factors’’ are contained in China Fire & Security Groups’ public filings with the SEC.
For more information, please contact:
China Fire & Security Group, Inc.
Robert Yuan, Chief Accounting Officer
Tel: +86-10-8441-7848
Email: ir@chinafiresecurity.com
Web: http://www.chinafiresecurity.com
