Telestone Technologies Awarded WFDS Contract for Beijing-Shanghai High-Speed Rail Project

BEIJING, Jan. 28, 2011 /PRNewswire-Asia-FirstCall/ -- Telestone Technologies Corporation (Nasdaq: TSTC) ("Telestone" or the "Company"), a leading developer and provider of telecommunications local access networks in China, today announced that it has been awarded a WFDS contract by China Beijing-Shanghai High Speed Rail Shareholding Corporation Limited to install a Wireless Fiber-Optic Distribution System (WFDS)-enabled Unified Access Network (UAN) solution and the corresponding proprietary equipment in connection with the upcoming Beijing-Shanghai high-speed railway.

The contract calls for the installation of a WFDS-enabled Unified Access Network (UAN) solution and the corresponding proprietary equipment to satisfy the advanced communication needs all three carriers' subscribers—China Mobile, China Unicom, and China Telecom—for wireless broad-band Internet access, as well as 2G and 3G wireless cellular coverage.  The U.S. $10 million contract will cover project engineering and equipment supply and is scheduled for delivery by June 30, 2011.

"For the communication portion of our high-speed rail project, we are pleased to have selected Telestone, whose proprietary WFDS technology is uniquely suited for providing wireless voice and high-speed data service to our rail passengers," said Mr. Li Yunhui, General Manager of the Telecommunication Department of China Beijing-Shanghai High Speed Rail Shareholding Corporation Limited.

"We are gratified by our selection to provide our WFDS platform by China Beijing-Shanghai High Speed Rail Shareholding Corporation Limited, which is a highly visible application and a strong validation of our technology," commented Mr. Daqing Han, Founder, Chairman and CEO of Telestone. "We believe that this landmark deal opens up more market opportunities for our proprietary WFDS-enabled solutions for China's burgeoning high speed rail industry", continued Mr. Han.

About China Beijing-Shanghai High Speed Rail Shareholding Corporation Limited

China Beijing-Shanghai High Speed Rail Shareholding Corporation Limited is the operator of the 1,318-k.m. express rail link being built between two of the country's most affluent cities: Beijing and Shanghai.  The company was founded in January 2008 with registered capital of RMB 115 billion, though the high-speed railway will require a total investment of RMB 221 billion. The highly anticipated railway is expected to begin operation in 2011 and is expected to cut total travel time to four hours from about 10 hours at present.

About Telestone Technologies Corporation

Telestone is a leader and innovator in wireless local-access network technologies and solutions. The company has a global presence, with 30 sales offices throughout China and a network of international branch offices and sales agents. For more than 10 years, Telestone has installed radio-frequency (RF)-based 1G and 2G systems throughout China for its leading telecommunications companies. After intensive research on the needs of carriers in the 3G age, Telestone developed and commercialized its proprietary third-generation local-access network technology, WFDS(TM) (Wireless Fiber-optic Distribution System), which provides a scalable, multi-access local access network solution for China's three cellular protocols. Telestone also offers services including project design, manufacturing, installation, maintenance and after-sales support. The Company has approximately 1,200 employees.

Safe Harbor Statement

This release contains certain "forward-looking statements" relating to the business of Telestone Technologies Corporation and its subsidiary companies. Forward looking statements can be identified by the use of forward-looking terminology such as "believes, expects" or similar expressions. Such forward looking statements involve known and unknown risks and uncertainties, including all business uncertainties relating to product development, marketing, specific customers, market acceptance, competition in general and other factors that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Certain of these risks and uncertainties are or will be described in greater detail in our filings with the Securities and Exchange Commission. Telestone Technologies is under no obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements whether as a result of new information, future events or otherwise. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.

SOURCE Telestone Technologies Corporation

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