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China Security and Surveillance Signs Two Memorandum of Understanding Agreements
Jul 15, 2008 (08:07 AM EDT)
SHENZHEN, China, July 15 /Xinhua-PRNewswire/ -- China Security & Surveillance Technology, Inc. ('CSST' or 'Company'), a leading provider of digital surveillance technology in the PRC, today announced that the Company has entered into two non-exclusive Memorandum of Understanding (MoU) agreements with U.S. technology companies that are intended to strengthen the Company's security solutions offering.
The first agreement is with FalconStor Software, Inc. . FalconStor delivers proven, comprehensive data protection solutions globally that facilitate the continuous availability of business-critical data with speed, integrity, and simplicity. CSST and FalconStor are exploring technologies in areas of data storage and protection solutions. This will further increase the efficiency and effectiveness of the centralized network control centers managing the cameras and data obtained from remote sites. FalconStor's advanced technologies will add further strength to CSST's product offering as it competes for Safe City projects in China. As part of this agreement, FalconStor will also assist CSST with products and marketing development in the global market through its existing distribution network.
The second agreement is with FLIR Systems, Inc. , a world leader in the design, manufacture and marketing of thermography and imaging products. Under the agreement, CSST's wholly owned subsidiary, Changzhou MinKing Electronics Co. ("MinKing") has selected the thermal imaging core component produced by FLIR Systems to be integrated into Minking's security camera solutions. The core components will upgrade Minking's cameras with thermal imaging capabilities that can be used for commercial security applications, including perimeter security, ground-based anti-smuggling installations, and airport security. In addition, both companies will work together to explore other technological applications for the security market.
"We are excited to be collaborating with these two quality companies, both of which offer highly compelling solutions for the security and surveillance industry," commented Mr. Guoshen Tu, Chief Executive Officer of China Security. "As local government Safe City projects continue to accelerate in China, there is a major need for advanced data storage solutions. FalconStor will help CSST advance its technology in the area of IP-based storage and offer more technical support which can strengthen our ability to obtain new Safe City contracts. FLIR possesses top notch imaging technology which provides us with an opportunity to develop enhanced security camera solutions for our growing base of customers. We are pleased to partner with each company and believe these agreements will strengthen our portfolio of security products offered to local governments and businesses in China and help generate additional new business opportunities."
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 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.
CONTACT: Kewa Luo of China Security & Surveillance, +1-212-984-0688, or firstname.lastname@example.org; or Investor Contact, ICR, Bill Zima & Ashley Ammon MacFarlane,for China Security & Surveillance Technology, Inc., +1-203-682-8200; orMedia Contact, Patrick Yu, +852-2530-2577, or , ofFleishman-Hillard Hong Kong for China Security & Surveillance Technology,Inc.
Web site: http://www.csst.com/