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China Security & Surveillance Technology Signs Memorandum of Understanding with Japan's Sojitz Corporation

May 28, 2008 (08:05 AM EDT)
URL: http://www.techweb.com/show-press-release/X698599/china-security-surveillance-technology-signs-memorandum-of-understanding-with-japan-s-sojitz-corporation.html

SHENZHEN, China, May 28 /Xinhua-PRNewswire/ -- China Security & Surveillance Technology, Inc. , a leading provider of digital surveillance technology in the PRC, today announced that the Company signed a memorandum of understanding (MoU) with Sojitz Corporation, one of Japan's leading trading corporations to explore opportunities to work with Sojitz in distributing the Company's security & surveillance products and services outside of China into other international markets.

Sojitz Corporation is a trading corporation based in Tokyo, Japan. It was formed in 2004 by the merger of Nissho Iwai Corporation and Nichimen Corporation. It operates in many industries, including aviation, construction, forestry, plastics, chemicals, mining, petroleum, textiles, and international trade. Currently, Sojitz has 12 domestic & 90 overseas branch offices, as well as 201 domestic & 424 overseas subsidiaries and affiliates. Sojitz is listed on the Tokyo Stock Exchange under '2768'.

Mr. Guoshen Tu, Chief Executive Officer of China Security, commented, "We are excited to have the opportunity to work with a leading multinational corporation such as the Sojitz Corporation, which operates in many key industries and maintains a large global footprint of offices, subsidiaries and affiliates. This MoU has been pursued through one of Sojitz's product divisions and we plan to work with Sojitz in the coming months to determine the type of CSST products and services they will carry via their distribution network.''

''There are an increasing number of international companies that recognize CSST as a leading security and surveillance player in China, some of which have expressed the opportunity to work with CSST on an international level as well. While the majority of our business remains firmly entrenched in China, we will continue to explore international expansion opportunities with high profile, well-established companies such as Sojitz that can potentially drive sales and strengthen our market reach on the global level. We look forward to increasing our cooperation with this partner in the weeks and months ahead,'' concluded Tu.

Safe Harbor Statement

This press release may include certain statements that are not descriptions of historical facts, but are forward-looking statements. Forward-looking statements can be identified by the use of forward-looking terminology such as ''will'' ''believes'', ''expects'' or similar expressions. These forward-looking statements may also include statements about our proposed discussions related to our business or growth strategy, which is subject to change. Such information is based upon expectations of our management that were reasonable when made but may prove to be incorrect. All of such assumptions are inherently subject to uncertainties and contingencies beyond our control and upon assumptions with respect to future business decisions, which are subject to change. We do not undertake to update the forward-looking statements contained in this press release. For a description of the risks and uncertainties that may cause actual results to differ from the forward-looking statements contained in this press release, see our most recent Annual Report filed with the Securities and Exchange Commission (SEC) on Form 10-K, and our subsequent SEC filings. 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 .

CONTACT: Company Contact - Kewa Luo, +1-212-984-0688, or ir@csst.com;Investor Contact - ICR: Bill Zima & Ashley Ammon MacFarlane,+1-203-682-8200; or Media Contact - Patrick Yu for Fleishman-Hillard,+852-2530-2577 (Hong Kong), or