SHENZHEN CITY, China, Aug. 20 /Xinhua-PRNewswire-FirstCall/ -- China Information Security Technology, Inc., (Nasdaq: CPBY) (“China Information Security,” “CIST” or the “Company”), a leading application software developer, systems integrator and full-service Geographic Information Systems (“GIS”) software solutions provider to the public security and civil-use markets in China, today announced that the Company has been awarded a new contract to construct the Police Geographic Information System (“PGIS”) for the Kashgar City Police Bureau in Xinjiang Province, with a total contract value of $1 million. The contract is estimated to be completed by the end of 2008.
Kashgar City will be the first city in Xinjiang Province to use the PGIS. Xinjiang Province, located on the border of Northwest China, is a large area which takes up about one-sixth of the country’s territory. CIST will provide the Kashgar City Police Bureau with an integrated solution under the new contract, including CIST’s fundamental PGIS platform; editing, managing and maintenance of the comprehensive PGIS database; mapping and analysis of police information; and simplified police database query. After the PGIS installation is completed, CIST expects to use the Kashgar Police Bureau installation as a model for launching the PGIS system in other cities in Xinjiang Province and other western regions.
China Information Security provides PGIS customers with specialized GIS services, including specialized mapping, geographic positioning, messaging, automated police patrol area monitoring, patrol history tracking and work hour management. Management believes that the successful implementation of PGIS platform in Xinjiang will provide further business opportunities for CIST in terms of follow-on orders, upgrades and operational support services, as well as application interface services that enable interaction between the PGIS platform and other infrastructure applications.
“We are pleased that the local Xinjiang government has chosen CIST to build their public security information system, using our PGIS as its backbone,” commented Mr. Jiang Huai Lin, CEO of China Information Security. The Kashgar City Police Bureau win follows a series of PGIS wins in the second quarter of this year and represents a new milestone for us, marking our entry into the Northwest China market. We expect that this contract win will enhance our leadership position in the public security market by expanding our distribution to over twenty provinces and provincial cities. To date, PGIS related projects have been installed in ten cities throughout China”
About China Information Security Technology, Inc.
Through its wholly-owned Chinese subsidiary, China Information Security Technology, Inc. (“CIST” or the “Company”) headquartered in Shenzhen, China (“PRC”), is a leading application software developer, systems integrator and full-service Geographic Information Systems (“GIS”) software solutions provider to the public security and civil-use markets in China, aiming to use information technology to improve public safety and information management. Its main business lines range from digital public security, to intelligent border control, and Geographic Information System (GIS). Its commitment to leading-edge technology and quality assurance has won the Company numerous government and enterprise contracts throughout China. To learn more about the Company, please visit the corporate website at http://www.chinacpby.com .
Safe Harbor Statement
This press release may contain certain “forward-looking statements” relating to the business of China Information Security Technology, Inc., and its subsidiary companies. All statements, other than statements of historical fact included herein are “forward-looking statements” including statements regarding the significance of the PGIS win in Kashgar, Xinjiang and the general ability of the Company to achieve its commercial objectives; the business strategy, plans and objectives of the Company and its subsidiaries; and any other statements of non-historical information. These forward-looking statements are often identified by the use of forward-looking terminology such as “believes,” “expects” or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company’s periodic reports that are filed with the Securities and Exchange Commission and available on its website ( http://www.sec.gov ). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.
For more information, please contact:
Company Contact:
Mr. Michael Lin
Vice President, Investor Relations
China Information Security Technology, Inc.
Tel: +1-949-743-0868
Email: mlin@chinacpby.com
Web: http://www.chinacpby.com
Investor Relations Contact:
Mr. Crocker Coulson
President
CCG Investor Relations
Tel: +1-646-213-1915 (NY office)
Email: crocker.coulson@ccgir.com
Web: http://www.ccgir.com
