New CEO Added; China Demos Successfully Completed Sure Trace Security Corporation (OTC:SSTY) (the "Company") announced that, because of its completion of a highly successful demonstration of the Company's capabilities in Beijing, China, it has been able to reshape the framework of its China joint venture. The Company will now hold a majority interest in the joint venture vehicle as opposed to a minority position. The vehicle, Sure Trace Asia Ltd. (STA), will become a subsidiary of SSTY. The Company will now own 85% of STA instead of 40%. STA and Beijing Suneray Communication Co. Ltd. (Suneray) have an exclusive relationship to bring the Company's technologies into China, Macau & Hong Kong. The joint venture will share the costs and profits on a 50/50 basis. Mr. William Chan, of Hong Kong, who was instrumental in bringing the Suneray deal to STA, has also agreed to become the CEO of both SSTY and STA. He will also sit on both Boards and will be located in the Company's Hong Kong office. Mr. Cimino will be President and Vice-Chairman of both companies and operate out of the Company's home office in Philadelphia. Suneray, incorporated in Beijing, China, is legally authorized by People's Republic of China as an agent for the organization and implementation of the Unified Coding Rules for Products and Services, a compulsory national standard of the People's Republic of China. Mr. Cimino, the Company President said, "This is a promising deal for the shareholders of Sure Trace. We have formed a joint venture with a major gatekeeper for the Chinese government, for the introduction of the types of technologies that we provide. In effect, the door to China is wide open to us... while others may still be just knocking at the door, the Chinese government itself, through Suneray, has already invited us in... That gives us a strong competitive advantage... especially given that we have successfully completed the demonstration stage of the process." "Now that we also own a majority interest in STA, I believe we have further protected the interests of Sure Trace's shareholders and increased the value of the Company's holdings," said Cimino. About Sure Trace Security Corporation Sure Trace is one of the premier systems integrators for anti-counterfeiting and security surveillance applications and a world-class provider of integrated tracking devices. The company intends to deliver turnkey solutions, both onshore and offshore, for governments, armed forces and industry, through its own proprietary technology and through aggregating the technology, products and services of third parties via licensing agreements and or joint ventures. For more information go to: www.suretrace.com. Safe Harbor: This press release contains forward-looking information within the meaning of section 27A of the Securities Act of 1933 and section 21E of the Securities Exchange Act of 1934 and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements, by definition, involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Sure Trace to be materially different from the statements made herein.
Sure Trace Security (CE) (USOTC:SSTY)
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