BEIJING, July 8 /Xinhua-PRNewswire/ -- Ninetowns Internet Technology
Group Company Limited (Nasdaq: NINE) ("Ninetowns" or the "Company"), one of
China's leading providers of online solutions for international trade,
announced today that its board of directors has appointed Mr. Martin Cheung
as an independent director and the Chairperson of the Audit Committee,
effective June 27, 2008.
Commenting on the appointment, Chief Executive Officer of Ninetowns,
Mr. Shuang Wang said, "We are very pleased to welcome Martin to the board.
With his extensive experience in finance and accounting, Martin will add
tremendous value and guidance to Ninetowns. We hope to leverage Martin's
strong financial insights in bolstering Ninetowns' financial reporting and
internal controls."
Mr. Cheung is currently a director of Norstar Automobile Industrial
Holding Limited, a position he has held since June 2008. He also currently
serves as an independent non-executive director of Mascotte Holdings
Limited and Hong Long Holdings Limited, both of which are companies with
securities listed on the Hong Kong Stock Exchange. Mr. Cheung is a member
of the American Institute of Certified Public Accountants and is a
Certified Public Accountant of Australia. From March 2005 to June 2008, Mr.
Cheung was a director at Grant Thornton Corporate Finance Limited. From
September 2002 to March 2005, Mr. Cheung was an executive vice president at
Japan Asia Securities. From March 1994 to August 2002, Mr. Cheung was a
vice president of Daiwa Securities. From August 1991 to March 1994, Mr.
Cheung was a senior auditor at Deloitte Touche Tohmatsu. Mr. Cheung
obtained a bachelor's degree in Social Sciences from the University of Hong
Kong in 1991, a master's degree in Accounting from Curtin University of
Technology, in Perth, Australia in 1997 and a master's degree in Finance
(Investment Management) from the Hong Kong University of Science and
Technology in 2001.
About Ninetowns Internet Technology Group Company Limited
Ninetowns (Nasdaq: NINE) is the leading provider of online solutions
for international trade, with its key services in automating import/export
e-filing, as well as in providing effective and efficient
business-to-business search. Ninetowns has been listed on the NASDAQ Stock
Exchange since December 2004 under the symbol "NINE." More information can
be found at http://www.ninetowns.com/english .
Forward-Looking Statements
Certain statements in this press release, including statements relating
to the expected non-cash impairment charge and the Chinese government's
future promotional plans for its free software, include forward-looking
statements within the meaning of the U.S. Private Securities Litigation
Reform Act of 1995. Forward-looking statements generally can be identified
by the use of forward-looking terminology, such as "may," "will," "expect,"
"intend," "estimate," "anticipate," "believe," "project" or "continue" or
the negative thereof or other similar words. All forward-looking statements
involve risks and uncertainties, including, but not limited to, customer
acceptance and market share gains, competition from companies that have
greater financial resources; introduction of new products into the
marketplace by competitors; successful product development; dependence on
significant customers; the ability to recruit and retain quality employees
as the Company grows; and economic and political conditions globally.
Actual results may differ materially from those discussed in, or implied
by, the forward-looking statements. The forward-looking statements speak
only as of the date of this release and the Company assumes no duty to
update them to reflect new, changing or unanticipated events or
circumstances.
For more information, please contact:
Helen Wu
Investor Relations
Ninetowns Internet Technology Group Company Limited
Tel: +86-10-6589-9287
Email: ir@ninetowns.com
Investor Relations (US):
Mahmoud Siddig, Director
Taylor Rafferty
Tel: +1-212-889-4350
Email: ninetowns@taylor-rafferty.com
Investor Relations (HK):
Ruby Yim, Managing Director
Taylor Rafferty
Tel: +852-3196-3712
Email: ninetowns@taylor-rafferty.com
SOURCE Ninetowns Internet Technology Group Company Limited
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Related links:
http://www.ninetowns.com/english
CONTACT:
Helen Wu, Investor Relations of Ninetowns
Internet Technology Group Company Limited, +86-10-6589-9287, or
ir@ninetowns.com; Investor Relations (US): Mahmoud Siddig,
Director of Taylor Rafferty, +1-212-889-4350, or
ninetowns@taylor-rafferty.com; Investor Relations (HK): Ruby Yim,
Managing Director of Taylor Rafferty, +852-3196-3712, or
ninetowns@taylor-rafferty.com
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