Telestone Technologies Corporation Announces Inability to File Annual Report on Form 10-K by April 16, 2013

 Telestone Technologies Corporation Announces Inability to File Annual Report
                        on Form 10-K by April 16, 2013

PR Newswire

BEIJING, April 16, 2013

BEIJING, April 16, 2013 /PRNewswire-FirstCall/ -- Telestone Technologies
Corporation (NASDAQ: TSTC) (the "Company"), a leading supplier of local access
network solutions for communications networks in China, today announced that
the Company will be unable to file its annual report for the year ended
December 31, 2012 on Form 10-K by the extended April 16, 2013 deadline.

On April 2, 2013, the Company filed a Form 12b-25 with the Securities and
Exchange Commission disclosing that it was unable to file with the SEC its
annual report on Form 10-K for the year ended December 31, 2012 by April 1,
2013 and that it expected to file its annual report as soon as practicable.

Although the Company completed the audit of the parent company's financial
records in March 2013, the Company will require additional time to obtain
certain necessary financial records for the year ended December 31, 2012 from
its Sichuan Ruideng subsidiary, which are needed to complete the audit of the
Company's consolidated financial results. The Company is working diligently on
this matter and intends to file its annual report on Form 10-K as soon as
practicable.

About Telestone Technologies Corporation

Telestone is a leader and innovator in wireless local-access network
technologies and solutions. The company has a global presence, with 30 sales
offices throughout China and a network of international branch offices and
sales agents. For more than 10 years, Telestone has installed radio-frequency
(RF)-based 1G and 2G systems throughout China for its leading
telecommunications companies. After intensive research on the needs of
carriers in the 3G age, Telestone developed and commercialized its proprietary
third-generation local-access network technology, Wireless Fiber-optic
Distribution System (WFDS), which provides a scalable, multi-access local
access network solution for China's three cellular protocols. Telestone also
offers services including project design, manufacturing, installation,
maintenance and after-sales support. The Company has approximately 1,400
employees.

Safe Harbor Statement

This release contains certain "forward-looking statements" relating to the
business of Telestone Technologies Corporation and its subsidiary companies.
Forward looking statements can be identified by the use of forward-looking
terminology such as "believes, expects" or similar expressions. Such forward
looking statements involve known and unknown risks and uncertainties,
including all business uncertainties relating to product development,
marketing, concentration in a single customer, raw material costs, market
acceptance, future capital requirements, competition in general and other
factors that may cause actual results to be materially different from those
described herein as anticipated, believed, estimated or expected. Certain of
these risks and uncertainties are or will be described in greater detail in
our filings with the Securities and Exchange Commission. Telestone
Technologies is under no obligation to (and expressly disclaims any such
obligation to) update or alter its forward-looking statements whether as a
result of new information, future events or otherwise. This press release
shall not constitute an offer to sell or the solicitation of an offer to buy
nor shall there be any sale of these securities in any state or jurisdiction
in which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of such state or
jurisdiction.



SOURCE Telestone Technologies Corporation

Website: http://www.telestone.com/english/index.asp
Contact: Telestone Technologies Corporation, Ms. Jun Man, Manager of the
Office of the Board of Directors, +86-10-6860-8335 x1104,
manjun-z@telestone.com
 
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