SHENZHEN CITY, China, July 1 /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 System -- GIS, Global Positioning System -- GPS and Remote Sensing -- RS) services in China, today announced that the Company has been added to the Russell 3000, Russell Microcap and Russell Global Indexes.
On Friday, June 27, 2008 Russell Investment Group rebalanced its indexes during its annual reconstitution to accurately weight the 4,000 largest companies in the U.S. stock markets by market capitalization. The reconstitution is usually one of the most highly anticipated and heaviest trading days in the U.S. equity markets, as index and other asset managers seek to reconfigure their portfolios to reflect the composition of Russell’s indexes.
Membership in the Russell 3000 means automatic inclusion in the small-cap Russell 2000(R) Index, generally viewed as the benchmark for small-cap companies. The Russell 3000 also serves as the U.S. component to the Russell Global Index. Membership in the Russell 3000, Russell Microcap and Russell Global Indexes, which remain in place for one year, means automatic inclusion in the appropriate large-cap, small-cap, all-cap indexes as well as the applicable style, sector and country indexes. Russell determines membership for its equity indexes primarily by objective, market-capitalization rankings and style attributes.
“Following our upgrade to the NASDAQ Global Select Market in May, we are pleased that our company has been added to these Russell Indexes,” said Mr. Jiang Huai Lin, CEO of China Information Security. “The additions should provide us with greater awareness by the investment community, and help the liquidity of our stock.”
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for both passive and active investment strategies. An industry-leading $4.4 trillion in assets currently are benchmarked to them.
About Russell
Russell Investments aims to improve financial security for people by providing strategic advice, world-class implementation, state-of-the-art performance benchmarks, and a range of institutional-quality investment products. With more than $213 billion in assets under management, Russell serves individual, institutional and advisor clients in more than 40 countries. Russell provides access to some of the world’s best money managers. It helps investors put this access to work in corporate defined benefit and defined contribution plans, and in the life savings of individual investors. Headquartered in Tacoma, Wash., Russell has principal offices in Amsterdam, Auckland, Johannesburg, London, Melbourne, New York, Paris, San Francisco, Seoul, Singapore, Sydney, Tokyo and Toronto. For more information on Russell indexes, go to http://www.russell.com .
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 System -- GIS, Global Positioning System -- 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 (GIS, GPS and RS), 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 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
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
