omniture

China TransInfo Provides Real-Time Traffic Information Solutions Business Update

2009-12-22 18:24 1131

BEIJING, Dec. 22 /PRNewswire-Asia/ -- China TransInfo Technology Corp., (Nasdaq: CTFO), ("China TransInfo" or the "Company"), a leading provider of public transportation information systems technology and comprehensive solutions in the People's Republic of China ("PRC") today announced that on December 28, 2009 the Company will launch three new real-time traffic mobile phone applications and expand its real-time traffic application coverage to Shenzhen, Tianjin and Changzhou.

The Company currently offers its real-time traffic mobile phone application in Beijing, Shanghai, Chongqing, Chengdu, and Wuhan. The new applications are compatible with Google mobile devices and Apple iPhones in addition to a broad range of mobile phones, and can be downloaded for free at http://www.palmcity.cn .

At the end of 2008, Shenzhen had approximately 1.3 million registered privately-owned vehicles, as compared to Tianjin and Changzhou that had 1.1 million and 0.3 million, respectively. By year-end 2008, Shenzhen had approximately 18.6 million mobile phone users, as compared to Tianjin and Changzhou that had 8.2 million and 3.5 million, respectively.

"By launching new real-time traffic mobile applications and expanding our geographic reach for them, we expect to increase our customer base and strengthen our market leading position," commented Shudong Xia, Chief Executive Officer of China TransInfo. "As we continue to gain new customers, we will negotiate with additional mobile phone manufacturers and wireless carriers to further expand our market reach and enable us to monetize our real-time traffic application."

About China TransInfo

China TransInfo, through its affiliate, China TransInfo Technology Group Co., Ltd., (the "Group Company") and the Group Company's PRC operating subsidiaries, is primarily focused on providing transportation information services and comprehensive solutions based on GIS technologies. The Company aims to become the largest transportation information products and comprehensive solutions provider, as well as the largest real time transportation information platform operator and provider in China. In addition, the Company is developing its transportation system to include Electronic Toll Collection (ETC) technology. As the co-formulator of several transportation technology national standards, the Company owns software copyrights for 88 software products and has won 5 of the 10 model cases sponsored by the PRC Ministry of Communications. The Company's affiliation with Peking University provides the Company access to the University's GeoGIS Research Laboratory, including over 30 Ph.D. researchers. As a result, the Company is playing a key role in setting the standards for electronic transportation information solutions. For more information, please visit the Company's website at http://www.chinatransinfo.com .

Safe Harbor Statement

This press release contains certain statements that may include "forward looking statements". All statements other than statements of historical fact included herein are "forward-looking statements". 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. You 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:

Ms. Fan Zhou, Investor Relations Director

China TransInfo Technology Corp.

Tel: +86-10-5169-1657

Email: ir@ctfo.com

Investor Relations Contact:

Mr. Crocker Coulson, President

CCG Investor Relations

Email: crocker.coulson@ccgir.com

Tel: +1-646-213-1915 (NY office)

Web: http://www.ccgirasia.com

Source: China TransInfo Technology Corp.
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Keywords: Transportation
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