China TransInfo Technology Signs Taxi Media Agreement with China Unicom Limited
July 28 2008 - 8:00AM
PR Newswire (US)
BEIJING, July 28 /Xinhua-PRNewswire-FirstCall/ -- China TransInfo
Technology Corp., (OTC:CTFO) (BULLETIN BOARD: 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 that it has signed an agreement for taxi advertisements
with China Unicom Limited (NYSE:CHU) valued at RMB 5 million
(approximately $0.73 million) in the city of Urumqi. The agreement
is effective from July, 2008 through July, 2009. China Unicom
Limited is one of the four leading telecom carriers in China.
Urumqi is the capital city of Xinjiang Urgur Autonomous Region.
China TransInfo enjoys exclusive rights to operate a GPS service
platform, in-taxi GPS media platform, as well as taxi advertising
rights for about 7,000 taxis in Urumqi for a period of 15 years,
starting from 2007. The new agreement will pertain to advertising
on all 7,000 taxis. Under the terms of the agreement, China
TransInfo will post China Unicom's brand image on one side of taxi
roof lights for one year (valued at RMB 1.88 million) and play
rolling advertisements on LED screens embedded on the other side of
roof lights (approximately 150 hours airtime valued at RMB 3.12
million). The rooftop LED screens will contain information related
to China Unicom's corporate image, latest products, and promotional
activities. "This cooperation with China Unicom is another
significant achievement for China TransInfo. Taxi advertisements
are gradually being recognized as an efficient channel to attract
more attention from target audiences and enlarge geographic
coverage," commented Mr. Shudong Xia, CEO of China TransInfo. "The
cooperation with a high profile customer such as China Unicom
clearly demonstrates our effectiveness in operating our new taxi
media business. We look forward to announcing similar agreements in
Urumqi and other cities in the coming months." About China
TransInfo China TransInfo, through its subsidiary Beijing PKU
ChinaFront High Technology Co., Ltd. ("PKU"), 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 also developing its transportation system to include ETC
technology. The Company is the co-formulator to several
transportation technology national standards and has software
copyrights to 23 software products. China TransInfo has won 3 of 4
model cases sponsored by the PRC Ministry of Communications. The
Company's affiliation with Peking University, which currently owns
5% of PKU, provides access to the University's GeoGIS Research
Laboratory, including over 30 Ph.D. researchers. As a result, the
Company is currently playing a key role in setting the standards
for electrified 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. For
more information, please contact: China TransInfo Technology Corp.
Ms. Cathy Zhuang, IR Supervisor Tel: +86-10-8267-1299 x8032
(Beijing) Email: CCG Investor Relations Inc. Mr. Crocker Coulson,
President Tel: +1-646-213-1915 (New York) Email: Web:
http://www.ccgir.com/ DATASOURCE: China TransInfo Technology Corp.
CONTACT: Ms. Cathy Zhuang, IR Supervisor at China TransInfo
Technology Corp., +86-10-8267-1299 x8032 (Beijing), or ; Mr.
Crocker Coulson, President of CCG Investor Relations Inc.,
+1-646-213-1915 (New York), or , both for China TransInfo
Technology Corp. Web Site: http://www.chinatransinfo.com/
http://www.ccgir.com/
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