China VoIP & Digital Telecom Inc. Signs First Contract with Banking Industry

JINAN, China, July 19 /PRNewswire-Asia-FirstCall/ -- Beijing PowerUnique Technology Co., Ltd (BPUT), one of the wholly-owned subsidiaries of China VoIP & Digital Telecom Inc. (OTC Bulletin Board: CVDT), today announced that it has signed a virtualization agreement with CITIC Group (CITIC) in Beijing and will launch its integrated datacenter virtualization solution. CITIC Group, a large state-owned investment company, was established in 1979 by Mr. Ron Yiren, former Vice President of China. In 2009, the company had more than $30 billion in revenue.

BPUT will provide CITIC with industry-leading comprehensive datacenter solution technologies. This will help CITIC reduce investment and operating expenses, lowering the total cost of ownership. It will also enhance CITIC's datacenter security and reduce the required number of servers, resulting in higher energy-savings, lower emissions and more environmentally-friendly effects.

"We feel privileged to work with a company of such caliber as the CITIG Group," said Mr. Kunwu Li, President and CEO of China VoIP & Digital Telecom. "CITIC is our first customer in the banking industry. Their trust in us demonstrates our unique position in the virtualization technology market. We designed the integrated virtualization datacenter solution based on CITIC's current needs and by assessing their future plans. The agreement allows us to showcase a successful virtualization solution and to market to other banking customers. We are certainly pleased to see that our solution is proving to be profitable and useful to CITIC."

CITIC Group, initiated and approved by Mr. Deng Xiaoping, chief architect of China's reform, was established on Oct. 4, 1979. It owns 44 subsidiaries including China CITIC Bank, CITIC Holdings, CITIC Trust Co. and CITIC Merchant Co., Ltd (mainly banks) in China, Hong Kong, the United States, Canada, Australia and New Zealand. CITIC's core business ranges from financial industry, industrial investment to service industries. It Ranks 254th on Fortune Global 500 in 2010.

About China VoIP & Digital Telecom Inc.

China VoIP & Digital Telecom Inc. offers virtualization technology applications in the People's Republic of China through its wholly owned subsidiary Jinan Yinquan Technology Co., Ltd and Beijing PowerUnique Technologies, Co., Ltd. Through the two subsidiaries, China VoIP & Digital Telecom is well positioned to take full advantage of the tremendous economic growth currently being experienced in China. The Company is currently marketing its integral virtualization solutions and services in China and at this time is in the testing stages of other Information technology products. More information can be found at http://www.chinavoip-telecom.com .

About Virtualization Technology

Virtualization is a proven software technology that is rapidly transforming the IT landscape and fundamentally changing the way people compute.

Today's powerful x86 computer hardware was originally designed to run only a single operating system and a single application, but virtualization breaks that boundary, making it possible to run multiple operating systems and multiple applications on the same computer at the same time, increasing the utilization and flexibility of hardware.

Virtualization is a technology that can benefit anyone who uses a computer, from IT professionals and Mac enthusiasts to commercial businesses and government organizations. Millions of people around the world now use virtualization to save time, money and energy while achieving more with the computer hardware they already own.

Safe Harbor Statement

Certain of the statements made in this press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by the use of forward-looking terminology such as 'believe,' 'expect,' 'may,' 'will,' 'should,' 'project,' 'plan,' 'seek,' 'intend,' or 'anticipate' or the negative thereof or comparable terminology. Such statements typically involve risks and uncertainties and may include financial projections or information regarding our future plans, objectives or performance. Actual results could differ materially from the expectations reflected in such forward-looking statements as a result of a variety of factors, including the risks associated with the effect of changing economic conditions in The People's Republic of China, variations in cash flow, reliance on collaborative retail partners and on new product development, variations in new product development, risks associated with rapid technological change, and the potential of introduced or undetected flaws and defects in products, and other risk factors detailed in reports filed with the Securities and Exchange Commission from time to time.

    For more information, please contact:

    CVDT Investor Contacts:
     Michelle Wong
     Tel:   +86-531-5558-5742
     Email: [email protected]

    Great Wall Research LLC
     Dina Ding
     Tel:   +1-203-252-7266
     Email: [email protected]

SOURCE China VoIP & Digital Telecom Inc.