BEIJING and SANTA CLARA, Calif., Sept. 17 ASIA-Share-Repurchase
BEIJING and SANTA CLARA, Calif., Sept. 17 /Xinhua-PRNewswire-FirstCall/ --
AsiaInfo Holdings, Inc. (Nasdaq: ASIA), a leading provider of telecom software
solutions and IT security products and services in China, today announced that
its Board of Directors has authorized a new stock repurchase program, under
which AsiaInfo may repurchase up to 3 million shares of the outstanding common
stock of the Company in the open market, or in privately negotiated
transactions.
Under the program, AsiaInfo may, from time to time for a period of nine
months, depending on market conditions, share price and other factors, make
one or more purchases, on the open market or in privately negotiated
transactions, of up to 3 million shares of common stock. Such purchases under
the program will be made in accordance with applicable law and subject to any
required regulatory approvals. Any common stock repurchased by AsiaInfo will
become part of its treasury stock and may be used by AsiaInfo to finance or
execute acquisitions, equity incentive plans, or other arrangements.
About AsiaInfo Holdings, Inc.
AsiaInfo Holdings, Inc. (Nasdaq: ASIA) is a leading provider of
high-quality telecom software solutions and IT security products and services
to some of China's largest enterprises as well as many small and medium sized
companies in China. An established leader in the Chinese telecommunications
industry, AsiaInfo became a prominent supplier of IT security products and
services in China with the acquisition of Lenovo's non-telecom related IT
services business in 2004.
Organized as a Delaware corporation, AsiaInfo began operations in the
United States in 1993. The Company moved major operations to China in 1995
and played a significant role in the construction of the national backbones
and provincial access networks for all of China's major national telecom
carriers, including China Telecom, China Mobile, China Unicom and China Netcom.
Since 1998, AsiaInfo has continued diversifying its product offerings and is
now a major provider of telecom software solutions in China.
For more information about AsiaInfo, please visit http://www.asiainfo.com .
Safe Harbor Statement
The information contained in this document is as of September 17, 2008.
AsiaInfo assumes no obligation to update any forward-looking statements
contained in this document as a result of new information or future events or
developments.
This document contains forward-looking information about AsiaInfo's
operating results and business prospects that involve substantial risks and
uncertainties. You can identify these statements by the fact that they use
words such as "anticipate," "estimate," "expect," "project," "intend," "plan,"
"believe," and other words and terms of similar meaning in connection with any
discussion of future operating or financial performance. Among the factors
that could cause actual results to differ materially are the following:
government telecommunications infrastructure and budgetary policy in China;
our ability to maintain our concentrated customer base; the long and variable
billing cycles for our products and services that can cause our revenues and
operating results to vary significantly from period to period; our ability to
meet our working capital requirements; our ability to retain our executive
officers; our ability to attract and retain skilled personnel; potential
liabilities we are exposed to because we extend warranties to our customers;
risks associated with cost overruns and delays; our ability to develop or
acquire new products or enhancements to our software products that are
marketable on a timely and cost-effective basis; our ability to adequately
protect our proprietary rights; the competitive nature of the markets we
operate in; political and economic policies of the Chinese government. A
further list and description of these risks, uncertainties, and other matters
can be found in our Annual Report on Form 10-K for the fiscal year ended
December 31, 2007, and in our periodic reports on Forms 10-Q and 8-K (if any)
filed with the United States Securities and Exchange Commission and available
at http://www.sec.gov .
For investor and media inquiries, please contact:
Sheryl Zhang
AsiaInfo Holdings, Inc.
Tel: +86-10-8216-6039
Email: ir@asiainfo.com
Andrew Keller
Ogilvy Financial, Beijing
Tel: +86-10-8520-3112
Email: andrew.keller@ogilvy.com
SOURCE AsiaInfo Holdings, Inc.
