China Information Technology, Inc.
Completes Reorganization Merger
SHENZHEN, China, October 31, 2012 -- China Information
Technology, Inc. (the "Company") (Nasdaq: CNIT), a leading
provider of information technologies and display technologies
based in China, today announced that the reorganization
merger to reorganize the Company as a British Virgin Islands
company (the "Reorganization Merger") has been completed.
Pursuant to the Reorganization Merger, each outstanding share
of the common stock of the Company was converted into the
right to receive one ordinary share of China Information
Technology, Inc., a British Virgin Islands company ("CNIT
BVI"). The ordinary shares of CNIT BVI are listed on the
NASDAQ Global Select Market under the trading symbol "CNIT,"
the same symbol under which the common stock of the Company
About China Information Technology, Inc.
China Information Technology, Inc., through its subsidiaries
and other consolidated entities, specializes in geographic
information systems (GIS), digital public security technology
(DPST), and hospital information systems (HIS), as well as
high-end digital display products and solutions in China.
Headquartered in Shenzhen, China, the Company's
integrated solutions include specialized software, hardware,
systems integration, and related services to help its
customers improve efficiency in information management. To
learn more about the Company, please visit its corporate
website at http://www.chinacnit.com.
Safe Harbor Statement
This press release may contain certain "forward-looking
statements" relating to the business of China Information
Technology, Inc., and its subsidiary companies. All
statements, other than statements of historical fact included
herein, are "forward-looking statements". These
forward-looking statements, 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. Investors 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.