China Security & Surveillance Technology Announces Approval for Listing on New York Stock Exchange
July 30, 2007
China Security & Surveillance Technology, Inc. (the Company" or "China Security"), a leading provider of digital surveillance technology in China, today announced it has received approval for listing on the New York Stock Exchange ("NYSE"). The Company anticipates its shares of common stock will begin trading on the NYSE shortly after the Company appoints the requisite number of independent directors as required by the NYSE listing standards. Until that time, the Company's shares will continue to trade on the OTCBB under the symbol "CSCT".
"We are extremely proud to announce our move to the New York Stock Exchange which highlights the growth and progress that we have made since we became a public company," commented Mr. Guo Shen Tu, Chief Executive Officer of China Security "Our move to the NYSE is a significant event for our company and is consistent with our continued efforts to enhance value for our shareholders. We believe this listing will increase our overall visibility, maximize pricing efficiency and reduce trading volatility. We are excited to join the list of other distinguished companies on the NYSE."
Based in Shenzhen, China, China Security manufactures, distributes, installs and maintains security and surveillance systems throughout China. China Security has manufacturing facilities in China and a R&D facility which maintains an exclusive collaboration agreement with Beijing University. China Security has built a diversified customer base through its extensive sales and service network throughout China. To learn more about the Company visit http://www.csstf.com.
Safe Harbor Statement
This press release includes 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. Statements in this press release about our ability to successfully list on the NYSE, for example, are forward-looking statements. 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.
For more information, please contact:
ICR: Bill Zima & Ashley Ammon MacFarlane
China Security & Surveillance Technology, Inc.