SOURCE: Applied Spectrum Technologies, Inc.

January 09, 2007 09:25 ET

Applied Spectrum Technologies, Inc. Files Definitive 14C Information Statement

The Company Files Definitive 14C Information Statement to Amend Its Articles of Incorporation

HUBEI PROVINCE, CHINA -- (MARKET WIRE) -- January 9, 2007 -- Applied Spectrum Technologies, Inc. (OTCBB: APSP) (to be known as Benda Pharmaceutical, Inc. [the "Company" or "Benda"]) a Chinese-based pharmaceutical company engaged in the development, manufacturing and distribution of medicines, active pharmaceutical ingredients and pharmaceutical intermediaries, announced today that on December 29, 2006, the Company filed a Definitive 14C Information Statement with the Securities and Exchange Commission. Following the mandatory 20-day waiting period, the Definitive 14C Information Statement will become effective on January 18, 2007.

On or about January 19, 2007, the Company anticipates it will file a Certificate of Amendment to its Articles of Incorporation and change its name from Applied Spectrum Technologies, Inc. to Benda Pharmaceutical, Inc.

On or about January 22, 2007, the Company anticipates it will file a request to change its CUSIP number and ticker symbol. The new ticker symbol will be effective on or about January 24, 2007.

Benda management will continue to provide investors with periodic updates as the above referenced filings are made.

About Benda Pharmaceutical, Inc.

Applied Spectrum Technologies, Inc., soon to be known as Benda Pharmaceutical, Inc. (www.bendapharma.com), is engaged in the business of identifying, discovering, developing, and manufacturing conventional medicines, active pharmaceutical ingredients, bulk chemicals (or pharmaceutical intermediates), and Traditional Chinese Medicines ("TCMs") for the treatment of some of the most widespread common ailments and diseases (e.g. common cold, diabetes, and cancer).

FORWARD-LOOKING STATEMENTS

The information contained herein includes forward-looking statements. These statements relate to future events or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. The safe harbor for forward-looking statements contained in the Securities Litigation Reform Act of 1995 protects companies from liability for their forward looking statements if they comply with the requirements of the Act.

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