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China TransInfo is Awarded a Half Million RMB Government Grant

Posted on: Tuesday, 9 June 2009, 07:00 CDT

BEIJING, June 9 /PRNewswire-Asia-FirstCall/ -- China TransInfo Technology Corp., (Nasdaq: 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 ("PRC"), today announced it has recently been awarded RMB500,000 (approximately $73,200) from the Beijing Economic Technology Development District Technology Innovation Fund for the development of its Traffic Flow Survey Data Center product.

The data center design is based on China TransInfo's proprietary software technology and is intended to address existing gaps in the development of China's intelligent highway information network. Upon successful completion, the product is expected to be applied in 15 to 25 provinces and will provide support to highway management authorities in planning, construction, management and maintenance.

In October 2008, China's Ministry of Communication launched the National Highway Network Traffic Flow Observation Station Layout Plan to collect and compile highway traffic flow information and improve highway management capabilities. Based on the plan, the government intends to invest roughly $472.5 million to build 24,278 observation stations throughout the country. China TransInfo's Traffic Flow Survey Data Center product will be a key component in the development of this network.

"We are very pleased receive government funding for the development of one of our latest products. We believe that this level of government support speaks to our advanced technological capabilities as well as our leading position in the transportation information market," commented Shudong Xia, chief executive officer of China TransInfo. "Furthermore, as our Traffic Flow Survey Data Center will be highly applicable for use in markets across the country, we expect it will lead to increased contracts in the future."

About China TransInfo

China TransInfo, through its affiliate, China TransInfo Technology Group Co., Ltd., (the "Group Company") and the Group Company's PRC operating subsidiaries, 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 developing its transportation system to include ETC technology. As the co-formulator to several transportation technology national standards, the Company has software copyrights for to 75 software products and has won 5 of 10 model cases sponsored by PRC Ministry of Communications. The Company's affiliation with Peking University provides the Company access to the University's GeoGIS Research Laboratory, including 30 Ph.D. researchers. As a result, the Company is currently playing a key role in setting the standards for electronic 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.

SOURCE China TransInfo Technology Corp.

Source: PR Newswire

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