Published: September 17, 2008
China Security & Surveillance Signs Safe City Project Framework Agreement for Nanjing City
SHENZHEN, China, Sept. 17 /Xinhua-PRNewswire / -- China Security &
Surveillance Technology, Inc. (NYSE: CSR)('CSST'), a leading provider of
security solutions inChina, today announced that it has signed a safe city
framework agreement valued at approximately RMB 200 million (approximately
US$29 million) with a local project contractor inNanjing City.
Nanjing City is the capital of East China'sJiangsu Province with a
population of roughly 8 million people. It is one of biggest and most
important cities inChina. This project involves a build out of fully
integrated security network infrastructure inNanjing City's High-Tech Zone to
support the intelligent security network, environmental analysis and
forecasting, biological security development and security software design.
This includes the installation of security cameras, biological detectors &
related software all integrated into security platform. The revenue is
expected to be recognized in the second half of 2009.
Mr. Guoshen Tu, Chief Executive Officer of CSST commented, "We are very
excited to announce this Safe City framework agreement withNanjing City,
which is one of the major cities inChina. This agreement highlights that our
brand name and capabilities in providing comprehensive total solutions have
become more reputable in the major cities ofChina and underscores the fact
that many local Chinese governments are increasingly demanding more features
and capabilities to be added into each Safe City project. We are very
confident in the demand of our business and look forward to the continued
success in winning more Safe City projects throughoutChina."
About China Security & Surveillance Technology, Inc.
Based inShenzhen, China, China Security manufactures, distributes,
installs and maintains security and surveillance systems throughout the PRC.
China Security has manufacturing facilities located inChina and an R&D
facility which maintains an exclusive collaboration agreement withBeijing
University andWuhan University. China Security has built a diversified
customer base through its extensive sales and service network that includes
numerous points of presence throughout the PRC. To learn more about the
Company visit http://www.csst.com .
Safe Harbor Statement
This press release includes certain statements that are not descriptions
of historical facts, but are forward-looking statements. Such statements
include, among others, those concerning our expected financial performance and
strategic and operational plans, our future operating results, our
expectations regarding the market for security and surveillance products, our
expectations regarding the continued growth of the security and surveillance
market, as well as all assumptions, expectations, predictions, intentions or
beliefs about future events. You are cautioned that any such forward-looking
statements are not guarantees of future performance and that a number of risks
and uncertainties could cause our actual results to differ materially from
those anticipated, expressed or implied in the forward-looking statements.
These risks and uncertainties include, but not limited to, the factors
mentioned in the "Risk Factors" section of our Annual Report on Form 10-K for
the year ended December 31, 2007, and other risks mentioned in our other
reports filed with the Securities Exchange Commission, or SEC. Copies of
filings made with the SEC are available through the SEC's electronic data
gathering analysis retrieval system (EDGAR) at http://www.sec.gov . The words
"believe," "expect," "anticipate," "project," "targets," "optimistic,"
"intend," "aim," "will" or similar expressions are intended to identify
forward-looking statements. All statements other than statements of
historical fact are statements that could be deemed
forward-looking statements. The Company assumes no obligation and does not
intend to update any forward-looking statements, except as required by law.
SOURCE China Security & Surveillance Technology, Inc.
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