SHENZHEN, China, March 13 /Xinhua-PRNewswire-FirstCall/ -- China Security & Surveillance Technology, Inc. ("China Security") (OTC Bulletin Board: CSCT), a leading provider of digital surveillance technology in the PRC, today announced that its board of directors recently passed a resolution effectuating a lock-up agreement for shares held by senior management and shares issued for both recently completed and contemplated acquisitions. The lock-up covers approximately 15 million shares held by the CEO, CFO, COO and other key senior managers and stipulates that these parties may not pledge, mortgage or sell these shares without formal consent of the board of the directors through December 31, 2008. In addition, shares issued for future acquisitions are expected to be subject to a similar 2-year lock-up provision.
About China Security & Surveillance Technology, Inc.
Based in Shenzhen, China, China Security manufactures, distributes, installs and maintains security and surveillance systems throughout the PRC. China Security has a manufacturing facility in Shenzhen and a R&D facility which maintains an exclusive collaboration agreement with Beijing University. China Security has built a diversified customer base through its extensive sales and service network that includes 59 points of presence throughout the PRC. To learn more about the Company visit http://www.csstf.com .
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Statements during the conference presentation may include information about the Company's plans, growth and strategies, which may include
'forward-looking statements' within the context of the federal securities laws. Statements regarding the Company's future events, developments and future performance, as well as management's expectations, beliefs, plans, estimates or projections relating to the future, are forward-looking statements within the meaning of these laws. The Company's actual results may differ materially from those suggested as a result of various factors. Interested parties should refer to the disclosure concerning the operational and business concerns of the Company set forth in the Company's filings with the Securities and Exchange Commission.
