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Telestone Technologies Corporation Announces Filing of Plan with NASDAQ for Continued Listing



 Telestone Technologies Corporation Announces Filing of Plan with NASDAQ for
                              Continued Listing

PR Newswire

BEIJING, May 1, 2013

BEIJING, May 1, 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 has submitted a plan (the "Plan") , which was due by May 1, 2013,
to regain compliance with NASDAQ's requirements for continued listing.

On April 17, 2013, the Company received a letter from NASDAQ Stock Market LLC
("NASDAQ") indicating that the Company was not in compliance with the
continued listing requirements under NASDAQ Listing Rule 5250(c)(1). This was
due to the Company's inability to file its annual report on Form 10-K for the
year ended December 31, 2012 with the Securities and Exchange Commission by
the extended April 16, 2013 deadline. On April 17, NASDAQ halted trading in
Telestone's shares.

The Plan will be reviewed by Nasdaq and, if deemed to be acceptable, the
Company would be granted a period of time during which to demonstrate
compliance with the NASDAQ Listing Rules.

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, and concentration in a single customer, raw material costs, market
acceptance, future capital requirements, and 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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