China Security & Surveillance Technology Reiterates Third Quarter and Full Year 2008 Financial Forecast

SHENZHEN, China , Oct. 20 /Xinhua-PRNewswire/ -- China Security & Surveillance Technology, Inc. (NYSE: CSR)(DIFX: CSR) ('CSST'), a leading provider of security solutions in China , today reiterated its 2008 third quarter and full year financial forecast.

For the third quarter of 2008, the company expects to achieve revenues between $110-$115 million. Excluding the non-cash charges related to the redemption amount payable on convertible notes, the accrual of performance based employee compensation and the amortization of intangible assets related to the Company's recent acquisitions, the Company expects to achieve an adjusted net income of $19-$21 million and adjusted diluted earnings per share of $0.43-$0.45 in the third quarter of 2008.

For the full year 2008, the Company expects to achieve revenues between $400-$410 million. Excluding the aforementioned non-cash charges, the Company expects adjusted net income of $73-$80 million and adjusted diluted earnings per share of $1.60-$1.77. The Company's 2008 financial forecast includes contributions from completed and pending acquisitions excluding the Coson, DIT and Skyrise Letters of Intent (LOI's) announced on August 1, 2008 .

Mr. Guoshen Tu, CSST's Chairman and Chief Executive Officer commented, "We continue to see strong demand for security related products in China and view the global economic downturn as an opportunity to further expand our market position. Our backlog remains strong and our overall number of security projects continues to accelerate which should position us for solid growth for the remainder of this year as well as in 2009. We are pleased to reassure our shareholders that we will meet our 3Q08 and FY08 financial forecasts and look forward to reporting our official 3Q08 financial results toward the end of October."

About China Security & Surveillance Technology, Inc.

Based in Shenzhen, China , China Security manufactures, distributes, installs and services security and surveillance products and systems as well as develops security and surveillance related software in China . Its customers are mainly comprised of commercial and government entities and non-profit organizations. China Security has built a diversified customer base through its extensive sales and service network that includes over 150 branch offices and distribution points throughout China . 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 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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