NEW YORK, Dec. 17, 2004 (PRIMEZONE) -- The Board of Directors of Telestone Technologies Corporation (OTCBB:TESN) announced today the addition of two new individuals to its board of directors, each of whom bring strong technology, finance and executive management acumen. The new members-who are business and community leaders-include Mr. Zhang Xingang and Mr. Chen Xuefeng.
Han Daqing Chairman, CEO & President of Telestone Technologies Corporation welcomed the new board members saying, "These incoming directors have a wealth of business, finance, and technology experience, and we look forward to their leadership and counsel."
Mr. Han added, "Telestone is focused on three key leadership areas: a corporate structure for optimal governance, compliance and growth; product and technology innovations that lead the market and generate new revenue opportunities; and industry leadership to guide the company's continuing efforts to deliver value to our shareholders".
In addition, Telestone also announced appointments of board committee chairmen. Mr. Zhu Lian will serve as chairman of the Audit Committee; Mr. Xu Yunxiao will chair the Nominating/Governance Committee; and Mr. Zhang Xingang will serve as chairman of the Compensation Committee.
The new board members are:
-- Mr. Zhang Xingang graduated with a bachelor's degree
in Electric Countermine from Electric Engineering
Division of Northwest Electronic Engineering University.
Currently, Mr. Zhang is the General Manager and
Director of Guangzhou Guangcheng Digital Technology
Co., Ltd. Prior to assuming his current position,
Mr. Zhang was General Manager, director of Shenzhen
Jiangyou Communication Equipments Inc. During his
career, Mr. Zhang was also head of marketing and
general management of Shenzhen Sangda Telecommunication
Co., Ltd.
-- Mr. Chen Xuefeng graduated from Xi'an Electric Science
University, Computer Science Division. After
graduation, Mr. Chen joined Shanxi Business
Administration University as assistant professor.
In 1992, Mr. Chen founded XI'an Sun Technologies
Development Co. Ltd. and has served as a director
of that company since its inception. Under his
supervision and direction, Xi'an Sun Technologies
Development Co., Ltd. has added six more computer
parts and components chain stores. Mr. Chen is
responsible for the development of marketing strategies
and the establishment of sales networks. Mr. Chen has
experience in retail, marketing, sales strategies
planning and new product development.
In other news, Telestone Technologies is also pleased to announce that its products and services were favorably received at the "3G in China" Global Summit 2004 organized by China Academy of Telecommunication Research of Ministry of Information Industry which took place earlier in the quarter. The 3-day Summit fully discussed and analyzed the latest developments and tendencies of 3G in China and in the world.
Participants at the 3G Summit included some of China's major telecommunication carriers, such as China Mobile, China Unicom, China Telecom, China Netcom, China Railcom and China Satellite. In addition, many international telecommunication carriers, such as Vodafone, NTT DoCoMo, SKT, and Hutchison Whampoa and international industrial Unions, such as TD-SCDMA Industry Alliances, GSM Association (GSMA), and CDMA Development Group (CDG) were also in attendance.
About Telestone Technologies Corporation
Telestone Technologies, through its subsidiaries, is a provider of high-tech, wireless communications coverage solutions in the People's Republic of China. The company principally provides integrated wireless coverage solutions through their national sales and services network to customers in the PRC. The company's wireless coverage solutions business is comprised of research, development and application of wireless communications technology used in a variety of indoor and outdoor environments such as hotels, residential estates, office buildings, airports, exhibition centers, underground stations, highways and tunnels. The company currently has approximately 323 employees.
The company has relocated its executive offices to those of its Beijing operations at Floor 6, Saiou Plaza, No. 5 Haiyang Road, Fengtai Technology Park, Beijing China 100070 and its telephone number is 86-10-83670505. The company website is www.telestonetech.com.
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