Billionaire Boys Club Member Forum (BBCMF)

[micasey123]

China Energy Savings Subsidiary Signs Distribution Agreement With Subsidiary of Emerson Electric Company
PR Newswire - October 10, 2005 10:00

HONG KONG, Oct 10, 2005 /Xinhua-PRNewswire via COMTEX/ -- China Energy Savings Technology, Inc. (Nasdaq: CESV), a leading provider of energy saving products in China, announced today that its wholly-owned Chinese subsidiary Shenzhen Dicken Technology Development Ltd. ("SDTD"), has entered into a distribution agreement with Emerson Network Energy Co. Ltd. ("Emerson Network"), a subsidiary of Emerson Electric Company (NYSE: EMR). Under the agreement, China Energy Savings will distribute Emerson's Invertor Products throughout China.

"Emerson is the leader in low voltage power saver manufacturing and one of China's biggest foreign parts suppliers, while SDTD is the leader in the lighting energy saver market in China," said Sun Li, Chairman & CEO of China Energy Savings. "The relationship between these two companies will create powerful synergies. We strongly believe that if two leading companies work together, we can gain more market share. For this reason, we have committed to purchase (estimated $6,200,000 USD) in Invertor Products for distribution over the next 18 months."

"Emerson was either going to be a competitor, supplier or a partner of ours. Although in the early stages, we are pleased that they have decided to work with us," added Mr. Sun. "This new strategic relationship with the leading international power solutions provider demonstrates our willingness to cooperate with companies from abroad as well as local industry leaders. China Energy Savings is already recognized in the country for its innovative energy management products. We will continue to look for new ways to bring into the country the best products offered by international energy companies and will seek new markets overseas to distribute our products."

About Emerson Network Energy Co. Ltd., a subsidiary of Emerson Electric Company

Emerson Network Power Co., Ltd. is a subsidiary company of American Emerson Electric Company which was established in 1890 and has been one of the renowned international companies. It has 28 sales offices and 29 service centers all over China.

St. Louis-based US Emerson Electric Co., was established in 1890 and has been one of the renowned international companies. Emerson's expertise covers 5 areas: Process Control; Electronics and Telecommunications; Industrial Automation; Heating, Ventilation and Air Conditioning; and Appliance and Tools. Its innovative solutions have been applied in more than 150 countries. Emerson has 60-plus divisions and 110,000 employees worldwide. It has been named as one of Industry Weekly's notable 100 Best-Managed Companies for five consecutive years. Emerson was ranked one of Global Top 500 and realized USD$15.6 billion sales in FY2004, and was again named one of "America's Most Admired Companies" by Fortune magazine.

About China Energy Savings Technology

China Energy Savings Technology, Inc., through its ownership interest in Starway Management Limited engages in the development, manufacture, sale, and distribution of energy-saving products for use in commercial and industrial settings in the People's Republic of China. According to test reports by various PRC authorities including the National Center of Supervision & Inspection on Electric Light Source Quality (Shanghai) issued in September 2002, Shenzhen Academy of Metrology & Quality Inspection issued in December 2002 and approved by the State Quality Supervision Inspection Department, the energy saving products of Starway's subsidiaries may provide energy saving rates ranging from approximately 25% to 45%. The energy saving projects conducted by Starway's subsidiaries mostly relate to public or street lighting systems, government administration units, shopping malls, supermarkets, restaurants, factories and oil fields, etc. There are small and large-scaled projects: the small-scaled projects relate to restaurants, shops, small arcades, offices and households through the sale of equipment, and the large-scaled projects relate to large shopping malls, supermarkets, factories and public bodies through the provision and installation of equipment over a term usually extended for years.

Safe Harbor Statement

As a cautionary note to investors, certain matters discussed in this press release may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such matters involve risks and uncertainties that may cause actual results to differ materially, including the following: changes in economic conditions; general competitive factors; the Company's ability to execute its business model and strategic plans; and the risks described from time to time in the Company's SEC filings.

Contact:
Ed Lewis
CEOcast, Inc.
Tel: [phone]

SOURCE China Energy Savings Technology, Inc.

Ed Lewis, of CEOcast, Inc., [phone]

http://www.prnewswire.com

Copyright (C) 2005 PR Newswire. All rights reserved. ********************************************************************** As of Thursday, 10-06-2005 23:59, the latest Comtex SmarTrend(SM) Alert, an automated pattern recognition system, indicated a DOWNTREND on 08-24-2005 for EMR @ $66.87. (C) 2005 Comtex News Network, Inc. All rights reserved.



--------------------------------------------------------------------------------



Copyright © 2005 MarketWatch, Inc. All rights reserved. Please see our Terms of Use. MarketWatch, the MarketWatch logo, and BigCharts are registered trademarks of MarketWatch, Inc.



News provided by Dow Jones NewswiresSM, PR News Wire™ and Business Wire™. Dow Jones Newswires is a service mark of Dow Jones & Company. PR News Wire is a Trademark of PR Newswire Association, Inc. Business Wire is a registered trademark and service mark of Business Wire.

Ameritrade is not responsible for the quality and suitability of third party financial or investment information or services. Please consult other sources of information and consider your individual financial position and goals before making an investment decision.
Ameritrade, Division of Ameritrade, Inc., member NASD/SIPC. Ameritrade and Ameritrade logos are trademarks or registered trademarks of Ameritrade IP Company, Inc. 2002 Ameritrade IP Company, Inc. All rights reserved. Used with permission.