SHENZHEN, China , Jan. 11 /Xinhua-PRNewswire-FirstCall/ -- China Public Security Technology, Inc., (OTC Bulletin Board: CPBY) (" China Public Security" or the "Company"), a leading provider of public security information technology and Geographic Information Systems ("GIS") software services, today announced that its Variable Interest Entity, Shenzhen iASPEC Software Engineering Co., Ltd., has been awarded a contract by the Chongqing Municipality to construct and implement China Public Security's Police Geographic Information System ("PGIS") platform (the " Chongqing Project").
The Chongqing Municipality is the largest and most populous of China's four provincial-level municipalities and will be the first municipality in western China to implement the PGIS platform. Upon the completion of the Chongqing Project, Chongqing will be able to increase the efficiency of their police resource deployment while shortening emergency response times, greatly improving public safety service to its citizens. China Public Security expects to begin construction of the Chongqing Project during the current fiscal quarter and to complete implementation efforts within the 2008 fiscal year.
The PGIS platform allows China Public Security to provide PGIS customers with several specialized GIS services, including specialized mapping, geographic positioning, messaging, automated police patrol area monitoring, patrol history tracking and work hour management. Successful implementation of the PGIS platform also provides an opportunity for China Public Security to deliver ongoing system operations and support services in connection with the PGIS platform, as well as application interface services that enable interaction between the PGIS platform and other infrastructure applications currently in use by the PGIS customer.
"The award is significant to China Public Security due to Chongqing's status as a provincial-level municipality," said Mr. Jiang Huai Lin , the Company's CEO. "We believe that the award of the Chongqing Project to us is evidence that, during their visit of our completed projects, Chongqing government officials were impressed by our previous installations, our broad coverage area and our state-of-the-art technology. This is our first PGIS contract award in Western China and serves as an important milestone in our plan to expand into other regions in China and build national brand recognition."
About China Public Security Technology, Inc.
Through its wholly-owned Chinese subsidiary, China Public Security is focused on the development and implementation of large scale, high-tech public security and Geographic Information System ("GIS") related projects. The Company provides a broad portfolio of fully integrated solutions and services, including public security information technology (First Responder Coordination Platform, Intelligent Border Control and Intelligent Security Surveillance), Geographic Information System (Police-use GIS and Civil-use GIS), and e-Government Platform services, software sales and maintenance. Through its exclusive contractual arrangement with Shenzhen iASPEC Software Engineering Company Limited (iASPEC), China Public Security has the licenses to 16 registered and copyrighted software applications in China . In addition, iASPEC is considered the Company's variable interest entity, and its financial data and information is consolidated into the Company's accounts. 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 Public 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 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 Public Security Technology, Inc. Tel: +1-949-743-0868 Email: [email protected] Investor Relations Contact: Mr. Crocker Coulson President CCG Elite Investor Relations Tel: +1-646-213-1915 (NY office) Email: [email protected]SOURCE China Public Security Technology, Inc.
