Hollysys Automation Technologies Provides Its Ground-Based High-Speed Rail Signaling System to Hankou-Yichang and Xiamen-Shenzhen Lines

BEIJING, Aug. 9 /PRNewswire-Asia-FirstCall/ -- Hollysys Automation Technologies, Ltd. (Nasdaq: HOLI) ("Hollysys" or the "Company"), a leading provider of automation and control technologies and applications in China, announced today that it has signed two contracts to supply its ground-based high-speed rail signaling system to Hankou-Yichang and Xiamen-Shenzhen lines valued to a aggregate of approximately US $8.5 million, or RMB 57.8 million.

Pursuant to the terms of the contracts signed, Hollysys will provide its ground-based high-speed rail signaling system, including Train Control Centers (TCC) and Line Side Electronic Units (LEU) to the Hankou-Yichang and Xiamen-Shenzhen Lines. The Hankou-Yichang Line connects Wuhan city and Yichang City in Hubei Province with 282 km in length and a contract value of US $5.6 million, or RMB 38.2 million. The Xiamen-Shenzhen Line connects the cities of Xiamen and Zhao'an in Fujian Province in the first phase with 144 km in length and a contract value of US $2.9 million, or RMB 19.6 million. Both lines are designed with a traveling speed of 200 km/h, and scheduled for commercial operation in December of 2011 and 2012 respectively.

Dr. Changli Wang, Hollysys' CEO and Chairman of the Board, commented, "We are very pleased to sign the two contracts to provide our ground-based high-speed rail signaling system to Hankou-Yichang and Xiamen-Shenzhen Lines. These contract wins, together with our recently announced progress in China's north-west region, further validate Hollysys' leading position in China's high-speed rail signaling market."

About Hollysys Automation Technologies, Ltd.

Hollysys Automation Technologies is a leading provider of automation and control technologies and applications in China that enables its diversified industry and utility customers to improve operating safety, reliability, and efficiency. Founded in 1993, Hollysys has approximately 2,100 employees with 9 sales centers and 13 service centers in 21 cities in China and serves over 1700 customers in the industrial, railway, subway & nuclear industries. Its proprietary technologies are applied in product lines including Distributed Control System (DCS) and Programmable Logic Controller (PLC) for industrial sector, high-speed railway signaling system of TCC (Train Control Center) and ATP (Automatic Train Protection), subway supervisory and control platform (SCADA), and nuclear conventional island automation and control system.

Safe Harbor

This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact included herein are "forward-looking statements," including statements regarding: the ability of the Company to achieve its commercial objectives; the business strategy, plans and objectives of the Company and its subsidiaries; and any other statements of non- historical information. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involve known and unknown risks and uncertainties. Such forward-looking statements, based upon the current beliefs and expectations of HLS' management, are subject to risks and uncertainties, which could cause actual results to differ from the forward looking statements. 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 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.

    For more information, please contact:

    Hollysys Automation Technologies, Ltd.
     Web:   http://www.hollysys.com

     Jennifer Zhang
     Investor Relations
     Phone: +86-10-5898-1386
     Email: [email protected]

    Or

     Xiuling Zhang
     Investor Relations
     Phone: +1-646-593-8125
     Email: [email protected]

SOURCE Hollysys Automation Technologies, Ltd.