N@N

China Infrastructure Investment Corporation Sees Pace of Toll Growth Accelerating as Economy Continues to Gradually Improve

^{Published on 2009-12-29 05:10:20 - Market Wire}
 

BEIJING--(Marketwire - December 29, 2009) - China Infrastructure Investment Corporation (NASDAQ: [ CIIC ]), which operates the Pinglin Expressway in Henan Province in central China, said today that it anticipates sequential revenue growth in 2010, spurred by a gradually improving Chinese economy.

As previously reported, in the Company's first quarter ended September 30, 2009, revenues generated from tolls it collected on the Pinglin Expressway were below results in the same period in the prior fiscal year, but approximately $1.09 million or 8.7% higher, compared with the fourth quarter of the prior fiscal year ended June 30, 2009. On a unit basis, the sequential increase was greater than this, as the average daily traffic flow in the first quarter of the current fiscal year of 14,974 was 27% higher than in the preceding fourth quarter of the prior fiscal year.

Sequential Growth in Revenues Expected to Continue

Mr. Li Xipeng, Chairman and CEO of the Company, stated, "Over the remainder of the fiscal year, with continuing gradual improvement in the overall economy anticipated, we see our toll revenues benefitting and advancing at an accelerated pace."

Optimistic About Long Term Growth

"For the longer term," Mr. Li continued, "we have every reason to expect strong revenue growth, with the centrally located Pinglin Expressway now operating at only 30% of its design load, and traffic through Henan Province between the northwest and southeast coastal region of China expected to grow substantially."

About China Infrastructure Investment Corporation:

China Infrastructure Investment Corporation, incorporated in Nevada, USA and headquartered in Henan Province, China, focuses on investing in, constructing, operating and managing infrastructure development projects in China. The Company currently operates the Pinglin Expressway, a 106-kilometer (66 miles) dual carriageway four-lane toll road in the central province of Henan. The Expressway is an important passage from the northwest region to the southeast coastal region of China. The Company is actively pursuing additional development opportunities in infrastructure projects, including expressways, electricity, water supply and bio fuel facilities. For more information, please visit [ www.ciicusa.com ].

"Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995:

This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current expectations or beliefs, including, but not limited to, statements concerning the Company's operations, financial performance and condition. For this purpose, statements that are not statements of historical fact may be deemed to be forward-looking statements. The Company cautions that these statements by their nature involve risks and uncertainties, and actual results may differ materially depending on a variety of important factors, including, but not limited to, the impact of alternative new routes and modes of transportation, pricing and new technology; changes in consumer preferences, and effectiveness of marketing; changes in laws and regulations; fluctuations in costs of maintenance and construction, and other factors such as those discussed in the Company's reports filed with the Securities and Exchange Commission. In addition, the Company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof. No securities regulatory authority has either approved or disapproved the contents of this news release.