China Security & Surveillance Technology, Inc. Announces Significant E-city Project...

China Security & Surveillance Technology, Inc. Announces Significant E-city
Project Win in Nanjing City
Project Valued Approximately RMB 944 Million

SHENZHEN, China, Sept. 8 /PRNewswire-Asia/ -- China Security &
Surveillance Technology, Inc. ("CSST" or the "Company")
(NYSE: CSR; Nasdaq Dubai: CSR), a leading provider of digital surveillance
technology in the PRC, today announced it has signed a RMB 944 million
(approximately US$138.0 million based on an exchange rate of USD 1.00 to RMB
6.84) E-city agreement for Nanjing New Town Science and Technology Park with a
local government representative of Nanjing City.
According to the agreement, the project will commence in November 2009 and
is expected to be fully completed before November 2011. The project's
construction will be subjected to specific installation arrangements separated
into several phases, and corresponding revenues will be recognized upon
completion of each phase. In addition, the Industrial and Commercial Bank of
China ("ICBC") will provide accounts receivable factoring service and working
capital financing facilities for each phase of the project.
Located on the lower Yangtze River and with a population of approximately
eight million, Nanjing is the capital of Jiangsu Province and one of the
largest industrial cities in southeast China. This E-city project for Nanjing
New Town Science and Technology Park -- "Project Accelerator" -- is customized
to service fast-growing companies headquartered in the area and to catalyze
regional economic growth. The project will be performed on a standard
Build-and-Transfer mode.
E-city, or Digital City, commonly refers to a set of advanced information
facilities that combines broadband communications infrastructure, flexible and
service-oriented computer systems, and multi-media and mass storage platforms,
based on innovative GIS, GPS, remote sensing and various other technologies to
meet the needs of governments, citizens and businesses. An E-city program
involves the development of an integrated digital platform and comprehensive
information technology facilities, including the development of Safe City, an
Emergency Response System and an Information-based Transportation Management
System.
Mr. Guoshen Tu, Chief Executive Officer of CSST, commented, "We are very
pleased to announce this E-city project win in the prominent city of Nanjing.
Our successful leap from Safe City to E-city illustrates our differentiated
scale and scope to our government customers, as our leading brand, proven
success, and unparalleled ability to provide comprehensive digital solutions
to China's large cities once again were key winning criteria. We believe our
expanding customer portfolio of these large-scale E-city projects will in turn
drive additional wins in other major cities throughout China."
Mr. Tu continued, "As we had firmly established cooperation with large
Chinese local banks in the past year, we are confident in our abilities to
undertake big projects and believe that the receivable factoring agreements
will fully satisfy our working capital needs. In addition, as we continue to
push ahead with our bids for larger government contracts, we believe that the
factoring agreements and other financing arrangements will continue to serve
as strategic advantages and key factors in winning our bids."
About China Security & Surveillance Technology, Inc.
Based in Shenzhen, China, CSST manufactures, distributes, installs and
services surveillance and safety products and systems as well as develops
surveillance and safety related software in China. Its customers are mainly
comprised of commercial and government entities and non-profit organizations.
CSST has built a diversified customer base through its extensive sales and
service network that includes over 150 branch offices and distribution points
throughout China. To learn more about the Company visit http://www.csst.com .
Safe Harbor Statement
This press release may include certain statements that are not
descriptions of historical facts, but are forward-looking statements. Such
statements include, among others, those concerning the Nanjing E-City project,
our future cooperation with the ICBC and other banks, our expected financial
performance and strategic and operational plans, our future operating results,
our expectations regarding the market for surveillance and safety products, as
well as all assumptions, expectations, predictions, intentions or beliefs
about future events. Forward-looking statements can be identified by the use
of forward-looking terminology such as "will," "believes," "expects" or
similar expressions. 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 based upon premises 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 on Form 10-K filed with the Securities and Exchange
Commission ('SEC'), and our subsequent SEC filings. Copies of filings made
with the SEC are available through the SEC's electronic data gathering
analysis retrieval system at http://www.sec.gov .
For more information, please contact:

Company Contact:
Terence Yap
Tel: +86-755-8351-5634
Email: ir@csst.com

Investor Contact:
ICR: Michael Tieu
Tel: +86-10-6599-7960
Email: michael.tieu@icrinc.com

Bill Zima
Tel: +1-203-682-8200
Email: bill.zima@icrinc.com

Media Contact:
Patrick Yu
Fleishman-Hillard Hong Kong
Tel: +852-2530-2577
Email: patrick.yu@fleishman.com

SOURCE China Security & Surveillance Technology, Inc.

Terence Yap, +86-755-8351-5634, or ir@csst.com; Or Investor Contact: ICR:
Michael Tieu, +86-10-6599-7960, or michael.tieu@icrinc.com; Or Bill Zima,
+1-203-682-8200, or bill.zima@icrinc.com; Or Media Contact: Patrick Yu,
Fleishman-Hillard Hong Kong, +852-2530-2577, or patrick.yu@fleishman.com