China Security & Surveillance Technology Received Dubai Financial Service Authority's Approval for Its TKO Waiver Application

SHENZHEN, China, June 27, 2011 /PRNewswire-Asia/ -- China Security & Surveillance Technology, Inc. ("CSST" or the "Company") (NYSE: CSR; NASDAQ Dubai: CSR), a leading integrated surveillance and safety solutions provider in the P.R.C., today announced that the Company had received an approval notice from the Dubai Financial Services Authority ("DFSA") for its application for a waiver from the provisions of the DFSA Takeover Rules Module ("TKO Waiver").  

The Company applied for the TKO Waiver so that it may proceed with the going private transaction contemplated by the Amended and Restated Agreement and Plan of Merger, dated as of May 3, 2011, with Rightmark Holdings Limited, a British Virgin Islands company and wholly owned subsidiary of Intelligent One Limited, a British Virgin Islands company wholly owned by the Company's chairman and chief executive officer Mr. Guoshen Tu ("Rightmark"), Rightmark Merger Sub Limited, a Delaware corporation and wholly owned subsidiary of Rightmark, and Mr. Guoshen Tu. The TKO Waiver will remain effective provided that the Company's common stock remains suspended from trading on NASDAQ Dubai. As previously announced, the Company had notified NASDAQ Dubai in writing of its intention to voluntarily delist its securities from the Official List of NASDAQ Dubai. The Company's common stock has been suspended from trading on NASDAQ Dubai since May 22, 2011 and is expected to be delisted from NASDAQ Dubai on or about July 21, 2011. The grant of the TKO Waiver does not imply that the DFSA has approved or disapproved the proposed going private transaction.

About China Security & Surveillance Technology, Inc.

Based in Shenzhen, China, CSST is primarily engaged, through its indirect Chinese subsidiaries, in the manufacturing, distributing, installing and servicing of surveillance and safety products, systems and services, and developing surveillance and safety related software primarily for governmental entities and their affiliates, non-profit organizations, and commercial entities in China. The Company has built a diversified customer base through its extensive sales and service network that includes branch offices and distribution points throughout China. To learn more about the Company visit http://www.csst.com.

Safe Harbor Statement

This press release may include certain statements that are not descriptions of historical facts, but are forward-looking statements. Such statements include, among others, those concerning the delisting from NASDAQ Dubai, as well as all assumptions, expectations, predictions, intentions or beliefs about future events. Forward-looking statements can be identified by the use of forward-looking terminology such as "will," "believes," "expects" or similar expressions. Such information is based upon expectations of our management that were reasonable when made but may prove to be incorrect. All of such assumptions are inherently subject to uncertainties and contingencies beyond our control and based upon premises with respect to future business decisions, which are subject to change. We do not undertake to update the forward-looking statements contained in this press release. For a description of the risks and uncertainties that may cause actual results to differ from the forward-looking statements contained in this press release, see our most recent Annual Report on Form 10-K, as amended, filed with the Securities and Exchange Commission ("SEC"), and our subsequent SEC filings. Copies of filings made with the SEC are available through the SEC's electronic data gathering analysis retrieval system at http://www.sec.gov.

SOURCE China Security & Surveillance Technology, Inc.

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