SHENZHEN CITY, China, Oct. 28 /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") solutions provider to public security and civil-use markets in China, today announced that the Company has been awarded a $2.9 million remote sensing contract to construct aerophotogrammetrical surveys and digital maps in west Guangdong province for China's Ministry of Land and Resources (the "Ministry"), in accordance with the Ministry's Second National Land Survey.
The contract will require the production of Digital Elevation Models (DEMs) and Digital Orthophoto Quadrangles (DOQs), which are often used in Geographic Information Systems. Commonly built using remote sensing or land surveying techniques, a DEM is a digital representation of ground surface topography or terrain and is the most common basis for digitally-produced relief maps. A DOQ is an aerial photograph that has been geometrically adjusted for topographic relief, lens distortion and camera tilt, or orthorectified, such that the scale of the photograph is uniform and accurate representation of the earth's surface, and the photo can be considered equivalent to a map. CIST will survey 28,700 square kilometer section of west Guangdong province. After acquiring digital images of this area, CIST will create a 1:10000 DEM and DOQ which will provide basic working maps for continuous land surveying and acreage calculations. The Company expects to complete the aero-photographic work by the end of March 2009, and to complete the project and pass customer inspection and acceptance by the end of May 2009.
"We are pleased with this state-level contract win, which follows two similar, city-level wins for civil-use GIS applications in Nanning, Guangxi province and Jiaxing, Zhejiang province earlier this year, commented Mr. Jiang Huai Lin, CEO of China Information Security. Since only a few companies are qualified to undertake state-level remote sensing projects, we believe that this contract win is an indication of our unique qualifications and industry reputation. We expect to continue to enjoy rapid geographic expansion and profitability as we leverage our strong brand name and our Level A Certificate of Surveying & Mapping and Computer System Integration Level One Qualification licenses to satisfy the increasing need for more efficient land management in the face of China's rapid urbanization."
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") 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 Systems (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 contract to construct aerophotogrammetrical surveys and digital maps in west Guangdong province; 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
