SOURCE: China Stationery & Office Supply

March 13, 2007 08:30 ET

China Stationery and Office Supply, Inc. Announces Completion of $9 Million UNICEF Stationery Order

NEW YORK, NY -- (MARKET WIRE) -- March 13, 2007 -- China Stationery and Office Supply, Inc. (OTCBB: CSOF) announced today that it has completed production of the $9 million United Nations Children's Fund (UNICEF) stationery products order. In the 2004, CSOF, through its 90%-owned subsidiary, Ningbo Binbin Stationery Co., Ltd ("Binbin"), was named as an official supplier for UNICEF. The $9 million order was taken and started production in November of 2006. For fiscal year 2006, approximately $2.55 million of the order was booked as revenue.

Mr. Chenghui Wei, Chief Executive Officer and Chief Financial Officer, stated, "The completion of the UNICEF order once again demonstrates our leading position in the stationery industry in China, as well as our strong organizational and production capabilities. This accomplishment is sure to further strengthen the company's foundation for future expansion."

Located in Ninghai City of Zhejiang Province, Binbin primarily engages in the development, manufacturing and distribution of stationery, office supplies and related products. With over 17 years of experience, Binbin exports 90% of its products to over 30 countries and regions, and has established itself as one of China's leading companies in this business area. In 2004 and 2005, the company was featured twice in Forbes Magazine's list of the "Top 100 Most Promising Small and Medium-sized Chinese Enterprises." In April 2006, the Company became the first stationery producer in China to be listed on the OTC Bulletin Board. The company's main trademark, Binbin™, has been registered in more than 30 countries and regions worldwide, and is officially recognized and protected as one of the "Best-Known Trademarks in China."

This news release contains forward-looking statements. The accuracy of these forward-looking statements involves risks, uncertainties and other factors that may cause the Company's actual results to be materially different from the results or performance suggested by the forward-looking statements in this release. These risks and uncertainties include, without limitation, risks that future acquisitions may be unsuccessful, risks related to potential changes in the PRC government's policies and laws, risks related to possible currency exchange rate fluctuations, and structural changes in the market for the Company's current product(s). We undertake no obligation to revise or update publicly any forward-looking statements.

Contact Information

  • Contact:
    Peter D. Zhou
    China Stationery and Office Supply, Inc.
    Tel: 212-232-0120 x230