SHENZHEN, China, July 22 /Xinhua-PRNewswire-FirstCall/ -- China Information Security Technology, Inc., (Nasdaq: CPBY) (“China Information Security,” “CIST” or the “Company”), a leading provider of Information Security and 3S (Geographic Information Systems -- GIS, Global Positioning Systems -- GPS and Remote Sensing -- RS) services in China, today announced that the Company has been awarded a contract to construct the Shenzhen City 120 Emergency Medical Service (EMS) GIS Command and Coordination System (the “Shenzhen EMS Coordination System”), with a total contract value of $1.5 million. The contract is estimated to be completed by the end of 2008.
The Shenzhen EMS Coordination System will add another module to the Company’s Police-use GIS (“PGIS”) solutions, providing the most comprehensive solution set for emergency responders in China. The system will be constructed using the Company’s existing PGIS platform, but will add features especially developed and focused on ambulatory emergency response functions, similar to computer aided dispatch (CAD) systems used to support 911 dispatchers in the United States. The Company expects that the new system will greatly improve the efficiency of Shenzhen City’s 120 Emergency Medical Service (EMS) Center by better coordinating its medical resources and accelerating its public response time, to the enhanced health and benefit of Shenzhen City residents.
The Company provides PGIS customers with specialized GIS services, including specialized mapping, geographic positioning, messaging, real-time resource tracking and monitoring. After successful implementation of the PGIS platform, the Company also offers ongoing systems operation and support services, as well as application interface services that enable interaction between the PGIS platform and other infrastructure applications currently in use by the PGIS customer. The Company’s PGIS platform solutions currently offers modules that serve Police (110), Fire (119) and Traffic Police (122). The Shenzhen EMS Coordination System represents an additional PGIS module to serve EMS (120).
“We view this contract win as a validation of our competitive position in the Shenzhen City PGIS market,” commented Mr. Jiang Huai Lin, CEO of China Information Security. “We expect that the new Shenzhen EMS Coordination System will strengthen our PGIS product mix and provide increased opportunities for us to cross-sell the new product to other existing PGIS customers. We believe that we can achieve greater success in the rapidly growing national market, through our strong technological capabilities, successful implementation record and industry reputation.”
About China Information Security Technology, Inc.
Through its wholly-owned Chinese subsidiary, China Information Security is focused on the development and implementation of large scale, high-tech information security and 3S (Geographic Information Systems -- GIS, Global Positioning Systems -- GPS and Remote Sensing -- RS) related projects. The Company provides a broad portfolio of fully integrated solutions and services, including Information Security (First Responder Coordination Platform, Intelligent Border Control System and Residence Card Information Management System), 3S and Product Sales and Services. Through its exclusive contractual arrangement with iASPEC Software Company Limited (iASPEC), China Information Security has the licenses to numerous registered and copyrighted software applications in China. In addition, iASPEC is considered the Company’s variable interest entity, and its financial data and information is consolidated into the Company’s accounts. 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 Shenzhen 120 EMS contract win 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