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      Tri-Tech Holding Closes Acquisition of Beijing Satellite Science & Technology Co.

      Date:08/10/2010

       

      BEIJING, Aug. 9 /PRNewswire-Asia-FirstCall/ -- Tri-Tech Holding Inc. (Nasdaq: TRIT), a leading total solutions provider to China's water resources, municipal wastewater and industrial pollution control markets, announced today that it closed its equity transfer agreement with Beijing Satellite Science & Technology Co. (BSST) on August 6, 2010 and completed the acquisition of 100% equity ownership of BSST for $3.8 million in cash and stock. This included $1.45 million in cash. 
          (Logo: http://photos.prnewswire.com/prnh/20100603/CNTH016LOGO )
          (Logo: http://www.newscom.com/cgi-bin/prnh/20100603/CNTH016LOGO )
          In addition to cash, Tri-Tech issued 260,000 shares of restricted stock to the transferor of BSST. The number of shares issued was calculated on a price of $9.05 per share (which was the closing price of Tri-Tech's common stock on the NASDAQ stock market on July 23, 2010) and was equivalent to $2.35 million.

          About Tri-Tech Holding Inc.
          Tri-Tech designs customized sewage treatment and odor control systems for China's municipalities and its larger cities. These systems combine software, information management systems, resource planning and local and distant networking hardware that includes sensors, control systems, programmable logic controllers, supervisory control and data acquisition systems (SCADA). The company also designs systems that track natural waterway levels for drought control, monitor groundwater quality and assist the government in managing its water resources. Tri-tech owns 15 software copyrights and two technological patents and employs 200 people. Please visit http://www.tri-tech.cn for more information.
          An online investor kit including a company profile, press releases, current price quotes, stock charts and other valuable information for investors is available at http://www.hawkassociates.com/profile/trit.cfm . To subscribe to future releases via e-mail alert, visit http://www.hawkassociates.com/about/alert/ .

          This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include references to the successful completion of the project referenced herein and other statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition and pricing, government regulation, and other risks contained in reports filed by the company with the Securities and Exchange Commission. All such forward-looking statements, whether written or oral, and whether made by or on behalf of the company, are expressly qualified by the cautionary statements and any other cautionary statements which may accompany the forward-looking statements. In addition, the company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.