China Architectural Engineering Announces Fourth Closed Beta Testing of 'Warring States'

Oct 25, 2010, 08:00 ET from China Architectural Engineering, Inc.

ZHUHAI, China and NEW YORK, Oct. 25 /PRNewswire-Asia-FirstCall/ -- China Architectural Engineering, Inc. (Nasdaq: CAEI or the Company), a self-developer of online games and a provider of high-end building envelope architectural systems, today announced that its subsidiary Shanghai ConnGame Network Ltd. ("ConnGame"), will conduct the fourth closed beta testing ("CB4") of its first massively multi-player online role-playing game ("MMORPG") "Warring States" on November 5, 2010.

"Warring States" is a realistic MMORPG based on China's iconic characters and nostalgic epochs, which features meticulously accurate recreations of historically popular heroes and warlords set in dramatic backdrops and varied according to the four seasons. Packed with attractive graphics highlighting China's ancient architecture and cultural elements, the stunning visual effects of "Warring States" offer an immersive and spectacular game experience.

Mr. Alan Leung, CEO of China Architectural Engineering, commented, "With our robust game engines and innovative development teams, CAE is strategically positioned to capture significant opportunities in China's large and rapidly growing online game market. 'Warring States' is the first to launch commercially in the near future among all three games that we are currently developing, as we place greater corporate focus on the attractive online gaming segment."  

"Warring States" CB4 incorporates numerous feedback and suggestions gathered from three previously completed closed beta testing. The Company estimates that thousands of top players will participate in the CB4. Before the start of the CB4, the Company will unveil a new version of the official website for "Warring States", and after the completion of the CB4, "Warring States" is expected to be commercially launched to the public.

Mr. Leung continued, "Through the CB4, we aim to collect and analyze servers and clients' data, in order to stress test load stability of "Warring States" in a realistic, massive game play environment.  We will also proactively harvest feedback and suggestions from the top players to further fine tune "Warring States" game play and content standards, as well as, to prepare for the upcoming non-restrictive open registration testing and commercial launch. Based on the success of our three previous closed beta tests and the players' favorable impressions, CB4 is another milestone in our methodical march towards the eventual commercial launch of "Warring States".  At this point in its development cycle, the ConnGame management team is confident that "Warring States" will become a commercial hit, which will drive CAE's future revenues and profits, and ultimately create greater shareholder value."

About China Architectural Engineering

China Architectural Engineering, Inc. is a self-developer of online games and provider of high-end building envelope architectural systems. Through its subsidiary, Shanghai ConnGame Network, the Company leverages its innovative game engines, scalable development platforms, and accomplished production teams to develop and operate MMORPGs, focusing on China's historic themes. The Company also provides design, engineering, fabrication and installation services of high-end curtain wall systems, roofing systems, steel construction systems, and eco-energy systems.

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Forward-Looking Statements

In addition to historical information, the statements set forth above may include forward-looking statements that may involve risk and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Actual results could differ materially from the expectations contained in forward-looking statements as a result of risks and uncertainties, including, but not limited to, difficulties in moving into the online gaming market; the Company's ability to integrate the management, personnel and operations of the Company and ConnGame; required Company payments under the waiver agreement and ability to maintain the conditions of the bondholder waiver and dilution from the potential adjustment to the conversion price of the bonds for non-compliance with the waiver; the Company's ability to accurately estimate and control contract costs and timelines; the Company's ability to timely complete and meet performance standards; identification and remediation of the Company's deficiencies and weaknesses in its internal controls over financial reporting, potential claims or litigation that may result from the occurrence of restatements, ability to identify and secure debt, equity, and/or other financing required to continue the operations of the Company; reduction or reversal of the Company's recorded revenue or profits due to "percentage of completion" method of accounting and expenses; increasing provisions for bad debt related to the Company's accounts receivable; fluctuation and unpredictability of costs related to our products and services; adverse capital and credit market conditions; expenses and costs associated with its convertible bonds, regulatory approval requirements and competitive conditions; and various other matters, many of which are beyond our control. These and other factors that may result in differences are discussed in greater detail in the Company's reports and other filings with the Securities and Exchange Commission.

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SOURCE China Architectural Engineering, Inc.