NEW YORK, May 12, 2005 (PRIMEZONE) -- Telestone Technologies Corporation (OTCBB:TESN) today announced that its common shares have been approved for listing on the American Stock Exchange. The company's shares will begin trading on the AMEX effective upon market open on Tuesday, May 17, 2005, under the ticker symbol TST.
"We are very pleased to be joining the American Stock Exchange," said Han Daqing, President and CEO. "This listing will provide our shareholders with enhanced trading liquidity and help expose Telestone to a much larger audience, including a broader range of individual and institutional investors."
This approval is contingent upon the company being in compliance with all applicable listing standards on the date it begins trading on the Exchange, and may be rescinded if the company is not in compliance with such standards.
Telestone Technologies Corporation provides wireless technology coverage solutions and equipment to major telecom companies in the Peoples Republic of China, including China Mobile and China Unicom, the PRC's two largest wireless network providers. These solutions and equipment are applied in a variety of indoor and outdoor environments including hotels, residential estates, office buildings, airports, exhibition centers, underground stations, highways and tunnels.
For additional information, please go to www.telestonetech.com.
SAFE HARBOR Information in this news release may contain statements about future expectations, plans, prospects or performance of Telestone Technologies Corporation ("Telestone") that constitute forward-looking statements for purposes of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995. The words or phrases "can be," "expects," "may affect," "believed," "estimate," "project," and similar words and phrases are intended to identify such forward-looking statements. Telestone cautions you that any forward-looking information provided by or on behalf of Telestone is not a guarantee of future performance. Telestone's actual results may differ materially from those anticipated in such forward-looking statements as a result of various important factors, some of which are beyond Telestone's control, in addition to those discussed in Telestone's press releases, public filings, and statements by Telestone's management, including, but not limited to, Telestone's estimate of the sufficiency of its existing capital resources, Telestone's ability to raise additional capital to fund future operations, Telestone's ability to repay its existing indebtedness, the uncertainties involved in estimating market opportunities and, in identifying contracts which match Telestone's capability to be awarded contracts. All such forward-looking statements are current only as of the date on which such statements were made. Telestone does not undertake any obligation to publicly update any forward-looking statement to reflect events or circumstances after the date on which any such statement is made or to reflect the occurrence of unanticipated events.