China Information Security Technology (CPBY) Reports Q4 Contracts Totaled $28.2M

January 14, 2009 9:00 AM EST

China Information Security Technology, Inc., (Nasdaq: CPBY) today announced that its newly signed contracts in Q408 were valued at $28.2 million, an increase of over 5.4%, compared to contracts signed during the third quarter of 2008, and that its PGIS product was named as a "Shenzhen Innovative Product".

The Company won contracts from 2 new cities in Q4, bringing the total number of cities in which it has a presence in China to 26. Some significant contract wins included:

• Remote Sensing Contract in Guangdong Province ($2.9 million)
  
• PGIS Contract from Industry and Commerce Administrative Bureau of Hainan Province ($2.73 million)

Of these contracts, 22% were won in the Information Security Technology sector, 58% were won in the Geographic Information Systems sector, and 20% were won in the Product Sales and Services sector. Management expects that the majority of the revenues from these contracts will be realized before mid-2009.

China Information Security Technology, Inc., through its subsidiary, focuses on the development and implementation of public security and Geographic Information System (GIS) related projects.

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