CTDC China Technology Development Grp. Corp. (MM)

HONG KONG, Feb. 6 /Xinhua-PRNewswire/ -- China Technology Development Group Corporation (NASDAQ:CTDC) ("CTDC" or the "Company") reported that on February 3, 2006 Nasdaq Stock Market Inc. halted trading of its stock and indicated such action by stating "additional information requested." Based on information provided by Beijing Holdings Limited ("Beijing Holdings"), the Company's majority shareholder, the Company was informed that on December 22, 2005, Beijing Holdings entered into a placing agreement in which it appointed Best Scene Management Limited ("Best Scene") as the placing agent of Beijing Holdings, to dispose of 1,100,000 shares of the Company owned by Beijing Holdings. Based on certain information provided to the Company by Beijing Holdings, on January 9, 2006, 560,000 shares were sold by Beijing Holdings pursuant to the placing agreement at a price of $2.15 per share. As the major shareholder of CTDC, Beijing Holdings advised the Company that the reason for such sale was to bring in strategic partners to enhance CTDC's future development. The Company issued a press release on January 6, 2006 announcing that it had completed the acquisition of the remaining 49% interest in China Natures Technology Inc. ("CNT", formerly Future Solutions Development Inc."). The Company also announced that effective January 9, 2006, it had changed its name to China Technology Development Group Corporation and trading symbol to CTDC. The Company confirmed that there are currently no negotiations or agreements relating to intended acquisitions or realizations by the Company. In addition, the Board is not aware of any matter which is or may be of a market-sensitive nature. About China Technology Development CTDC is engaged in providing information network security solutions in People's Republic of China. With the recent acquisition of CNT, which develops healthfood products utilizing bio-active components of bamboo, CTDC also enter the Chinese nutraceutical market. CTDC's major shareholder is Beijing Holdings Limited, a conglomerate with over $3 billion in total assets owned by the Beijing People's Municipal Government. For more information, please visit our website at http://www.chinactdc.com/ . Forward-Looking Statement Disclosure This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The statements regarding CTDC contained in this press release that are not historical in nature, particularly those that utilize terminology such as "may," "will," "should," "likely," "expects," "anticipates," "estimates," "believes" or "plans," or comparable terminology, are forward-looking statements. Forward- looking statements are based on current expectations and assumptions, and entail various risks and uncertainties that could cause actual results to differ materially from those expressed in such forward-looking statements. Important factors known to CTDC that cause actual results to differ materially from those expressed in such forward-looking statements are identified and discussed in CTDC's filings with the Securities and Exchange Commission. Contact: China Technology Development Group Corporation Michael Siu Tel: +852-3112-8461 Email: Website: http://www.chinactdc.com/ First Call Analyst: FCMN Contact: DATASOURCE: China Technology Development Group Corporation CONTACT: Michael Siu of China Technology Development Group Corporation, Tel: +852-3112-8461, Email: or Web site: http://www.chinactdc.com/

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