China Information Tech (CNIT) Ends Buyback Plan; Chairman, CEO Adopts New $2M Program

China Information Technology, Inc. (Nasdaq: CNIT) today announced that its Board of Directors has approved the termination of its stock purchase plan. At the same time, the Company's chairman and chief executive officer, Mr. Jiang Huai Lin, entered into a new $2 million purchase plan. Mr. Lin also agreed to purchase 1,084,895 shares in a private transaction outside the purchase plan at a purchase price per share of $1.20.

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