SHENZHEN, China , Aug. 28 /Xinhua-PRNewswire/ -- China Security &
Surveillance Technology, Inc. (NYSE: CSR)('CSST'), a leading provider of
security solutions in China , today announced that it has signed a framework
agreement valued at approximately
Located in Shandong Province , Shouguang City has a population of approximately 1.1 million people. The Safe City project entails the installation of security cameras and related equipment for the public areas including street intersections and shopping malls. This project also entails the build out of a secure, city-wide traffic monitoring system for the local traffic police control center. The Company expects to begin realizing revenues from this project in the second half of 2009.
Mr. Guoshen Tu, Chief Executive Officer of China Security commented, 'We are very excited to have signed another large Safe City agreement in the Shandong province. We have developed a strong track record of success with our Safe City projects in this region including Qingzhou City, Jining City, Jiaonan City and Binzhou City, and our extensive experience in this region helped secure this new project with Shouguang City.
We continue to develop a more comprehensive product offering and are increasingly viewed by local governments around China as the preferred security total solution provider for Safe City projects. Demand for our security and surveillance services is as strong as ever and we look forward to achieving greater success in the future."
About China Security & Surveillance Technology, Inc.
Based in Shenzhen, China , China Security manufactures, distributes, installs and maintains security and surveillance systems throughout the PRC. China Security has manufacturing facilities located in China and an R&D facility which maintains an exclusive collaboration agreement with Beijing University and Wuhan 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.