China Information Security (CPBY) Signs $39.26M in New Contracts During Q210

China Information Security Technology, Inc. (Nasdaq: CPBY) today announced that during the second quarter of 2010, the Company signed new contracts valued at $39.26 million, in the aggregate, an increase of 49% compared to the same period in 2009. Management expects that the majority of these contracts will be recognized as revenue in 2010.

During the second quarter of 2010, the Company won contracts from clients in 16 provinces and provincial cities in China. Some important contracts secured in the second quarter included:

• $5.0 million contract for a GIS/Intelligent Traffic Management System for the 16th Asian Games in Guangzhou, China
  
  
• $6.0 million contract for Police-use GIS (PGIS) in Shanghai, Shenzhen, Zhuhai, Jiangxi, Hunan and Guangxi under China's National PGIS Standardization Program
  
  
• $1.3 million contract for a PGIS large-screen display system for the Fujian Department of Public Security
  
  
• $0.8 million contract for a GIS surveying and mapping project for Jiayu City, Hubei Province
  
  
• $0.6 million contract for a Digital Hospital Information System for the Guangxi Department of Health

Mr. Jiang Huai Lin, Chairman and CEO of the Company, commented, "We believe that our expanding portfolio of capabilities, combined with the excellent reputation of our product solutions in the PRC market, contributes to our continued contract wins from both new and existing clients. The contracts won in the second quarter of 2010, in particular, demonstrate our success in integrating DIST capabilities with GIS solutions to create more sophisticated and powerful tools, such as intelligent management systems, for our customers. Furthermore, these contract wins prove our ability to penetrate new markets nationally. We expect that our growth trend will continue as we address a huge market in China with very high barriers-to-entry."

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