Telestone Technologies (NASDAQ:TSTC)

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Friday, April 29, 2011

BEIJING, April 29, 2011 /PRNewswire-Asia-FirstCall/ -- Telestone Technologies Corporation (NASDAQ: TSTC) ("Telestone" or the "Company"), a leading developer and provider of telecommunications local-access networks in China, today announced that Mr. Daqing Han, Telestone's Chairman and Chief Executive Officer, has completed an initial purchase of 100,000 shares under his Rule 10b5-1 plan. In accordance with the plan, Mr. Han purchased 100,000 shares at an average price under $6.00 during this week.

On February 9, 2011, Telestone announced that its Chairman had adopted a plan under which he could purchase up to $5 million of the Company's stock during the following 12 months. The purchases are subject to restrictions on price, volume, timing, applicable legal requirements and other factors. Transactions under this plan will be disclosed publicly through filings with the Securities and Exchange Commission. As of March 28, 2011, Mr. Han beneficially owned approximately 3.2 million shares of common stock of the Company, representing aggregate ownership of 26.4% of the outstanding common stock.

"I continue to believe that Telestone's shares are attractively valued and have put my own money to work in support of my belief," commented Mr. Han. "I have strong confidence in the future of Telestone and our long-term commitment to increasing shareholder value and I am pleased with my initial, additional investment in Telestone shares."

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