BEIJING, April 9, 2008 /Xinhua-PRNewswire-FirstCall/ -- China TransInfo Technology Corp, (OTC Bulletin Board: CTFO), ("China TransInfo" or "the Company"), a leading provider of public transportation information systems technology and comprehensive solutions in the People's Republic of China, announced today that it has recently won a bid valued at RMB1.25 million (approximately US$180,000) to construct a comprehensive geographic information system (GIS) for the city of Chengdu. Chengdu is the capital city of Sichuan Province; previous work in the city includes a transportation media platform installed in the city's taxi fleet.
The comprehensive GIS contract in Chengdu will serve as a critical component of the Sichuan Transportation Resource Integration and Service (STRIS) Project. STRIS is one of the key model case projects commissioned by the Ministry of Communication in 2008. The STRIS project is designed to integrate all traffic and roadway data in Sichuan province. In building a custom GIS platform for the city of Chengdu, China TransInfo will construct the provincial level data exchange platform and the unified road transportation GIS platform, integrate road and transportation administrative information resources, build relevant databases, and establish the provincial level data center.
"We are very pleased that the Ministry of Communication, China's highest body governing transportation infrastructure, has continued to recognize China TransInfo's superior technology and expertise in the transportation sector by awarding us another provincial level model case project," said Mr. Shudong Xia, CEO of China TransInfo. "This project is just the first stage in the Chinese government's broader plans to upgrade and integrate transportation information systems nationwide. We expect that our unrivaled expertise in GIS projects and long working relationship with the Ministry of Communication will put China TransInfo in an excellent position to continue winning similar projects well into the future."
About China TransInfo
China TransInfo, through its subsidiary Beijing PKU ChinaFront High Technology Co., Ltd. ("PKU"), is primarily focused on providing transportation information services. The Company aims to become the largest transportation information product and comprehensive solutions provider, as well as the largest integrated transportation information platform and commuter traffic media platform builder and operator in China. China TransInfo is involved in developing multiple applications in transportation, digital city land and resource filling system based on GIS technologies which is used to service the public sector. In addition, the Company is also developing its transportation system to include ETC technology. The Company is the co-formulator to several transportation technology national standards and has software copyrights to 23 software products. China TransInfo has won 3 of 4 model cases sponsored by the PRC Ministry of Communications. The Company's affiliation with Peking University, which currently owns 5% of PKU, provides access to the University's GeoGIS Research Laboratory, including over 30 Ph.D. researchers. As a result, the Company is currently playing a key role in setting the standards for electrified transportation information solutions. For more information please visit the company website at http://www.chinatransinfo.com .
Safe Harbor Statement
This press release contains certain statements that may include "forward looking statements". All statements other than statements of historical fact included herein are "forward-looking statements". These forward looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website ( http://www.sec.gov ). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.
For more information, please contact:
China TransInfo Technology Corp.
Ms. Cathy Zhuang, IR Supervisor
Tel: +86-10-8267-1299 x8032 (Beijing)
Email: cathyzhuang@ctfo.com
CCG Elite Investor Relations Inc.
Mr. Crocker Coulson, President
Tel: +1-646-213-1915 (New York)
Email: crocker.coulson@ccgir.com
SOURCE China TransInfo Technology Corp.
International News / Press Release source: PR Newswire
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