Replies to post #60254 on China Growth Stocks

[Rames]

TSTC secondary at $12.00

BEIJING, Nov. 24, 2010 /PRNewswire-Asia-FirstCall/ -- Telestone Technologies Corporation (Nasdaq: TSTC) (the "Company"), a leading supplier of local access network solutions for communications networks in China, today announced that it has priced its public offering of 1,675,000 shares of common stock.

The Company has granted the underwriters a 30-day option to purchase up to an additional 251,250 shares of common stock to cover over-allotments, if any. The shares were offered to the public at $12.00 per share. The offering is expected to settle and close on November 30, 2010, subject to customary closing conditions. The Company intends to use net proceeds from the offering, which are expected to be approximately $18.9 million, after deducting the underwriting discount but without giving effect to any exercise of the underwriters' over-allotment option, for the construction of a new manufacturing and research and development center and for general working capital purposes. The Company may also use a portion of the net proceeds to acquire or invest in businesses and products that are complementary to its own. At the present time, the Company has no plans, commitments or agreements with respect to any acquisitions