Hollysys Automation Technologies Announces Award of $4.1 Million Government IT Contract

Jan 28, 2008

Beijing, China – January 28, 2008 – Hollysys Automation Technologies, Ltd. ("Hollysys" or "the Company") today announced that it has been awarded an IT contract by a national government bureau in the People’s Republic of China for application software development and system integration work. The contract value is RMB29.8 million or US$4.1 million, and is expected to be completed within 180 days after commencement, which is scheduled to begin in the current period ended March 31, 2008.


Dr. Wang Changli, Hollysys’ Chief Executive Officer commented, “We are pleased to have been selected for this application software contract, and this will be Hollysys’ second project for this government bureau. We feel that this is especially noteworthy because it represents repeat business, providing an excellent example of the value that Hollysys’ products and services bring to its existing and prospective customers.”


About Hollysys

Hollysys has become one of the leading automation systems providers in the PRC, developing a number of core technologies and completing numerous projects utilizing a wide array of automation products. The Company specializes in the research, development, production, sale and distribution of industrial automation and control systems, competing effectively with both domestic Chinese companies and large, multinational participants in the industrial, rail and nuclear power sectors.

For further information: CONTACT: Jennifer Zhang or Serena Wu Investor Relations & Corporate Communications P.R. China: +86(10) 5898-1386 United States: +1(646) 593-8125 Email: mailto: investors@hollysys.com