omniture

China TransInfo Technology Signs Taxi Media Placement Agreement in Urumqi

2008-08-05 18:52 1180

BEIJING, Aug. 5 /Xinhua-PRNewswire-FirstCall/ -- 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 it has entered into a taxi advertisement placement agreement with Xinjiang Malan Advertisement Limited (“Xinjiang Malan”). The agreement will be valid from September 2008 to August 2013 within the city of Urumqi, the capital city of Xinjiang Uyghur Autonomous Region. China TransInfo will receive RMB 9 million (approximately $1.32 million) for the first year of the agreement.

China TransInfo enjoys exclusive rights to operate a GPS service platform and in-taxi GPS media platform in Urumqi and maintains taxi advertising rights for about 7,000 taxis in the city for a period of 15 years, starting from 2007. Xinjiang Malan is a well-known local advertising company in Xinjiang. The new agreement will pertain to advertising on 5,000 taxis within Urumqi. Under its terms, China TransInfo has authorized Xinjiang Malan to sell advertisement space on taxi rooftop LED screens to third parties. For the first year of the agreement, Xinjiang Malan has the right to display rolling advertisements on the LED screens for about 2,000 hours of airtime.

“We are delighted to enter into this long term strategic partnership with Xinjiang Malan. This latest contract win has underscored that taxi advertisements are being increasingly perceived as an efficient channel to attract more attention from target audiences over a large geographic area,” commented Mr. Shudong Xia, CEO of China TransInfo. “We believe our new relationship with Xinjiang Malan will raise our profile in the local advertising community, establishing China TransInfo as a dynamic and innovative choice for companies looking to expand their advertising network.”

About China TransInfo

China TransInfo, through its subsidiary Beijing PKU ChinaFront High Technology Co., Ltd. (“PKU”), is primarily focused on providing transportation information services. The Company aims to become the largest transportation information product and comprehensive solutions provider, as well as the largest integrated transportation information platform and commuter traffic media platform builder and operator in PRC. China TransInfo is involved in developing multiple applications in transportation, digital city, land and resource filling system based on Geographic Information Systems (“GIS”) technologies which is used to service the public sector. In addition, the Company is also developing its transportation system to include Electronic Toll Collection (“ETC”) technology. The Company is the co-formulator to several transportation technology national standards and has software copyrights to 23 software products. China TransInfo has won 3 of 4 model cases sponsored by the PRC Ministry of Communications. The Company’s affiliation with Peking University, which currently owns 5% of PKU, provides access to the University’s GeoGIS Research Laboratory, including over 30 Ph.D. researchers. As a result, the Company is currently playing a key role in setting the standards for electrified transportation information solutions. For more information please visit the company 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:

China TransInfo Technology Corp.

Ms. Cathy Zhuang, IR Supervisor

Tel: +86-10-8267-1299 x8032 (Beijing)

Email: cathyzhuang@ctfo.com

CCG Investor Relations Inc.

Mr. Crocker Coulson, President

Tel: +1-646-213-1915 (New York)

Email: crocker.coulson@ccgir.com

Web: http://www.ccgir.com

Source: China TransInfo Technology Corp.
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Keywords: Transportation
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