SOURCE: Global Innovative Systems Inc.

June 29, 2005 09:00 ET

Global Innovative Signs Distribution Agreement With Siemens Building Technologies

HONG KONG -- (MARKET WIRE) -- June 29, 2005 -- Global Innovative Systems Inc. (OTC BB: GBSY) announced today that its wholly owned subsidiary, Tech Team Development (Zhuhai) Limited ("TTDZ"), has signed a distribution agreement with Siemens Building Technologies (Tianjin) Ltd. ("SBT"), an operating company of Siemens AG.

Under the agreement, TTDZ has been granted the right to distribute the Siemens Apogee™ Building Management System throughout the Eastern Canton region of Mainland China, which includes Hong Kong and Macau. The Siemens Apogee™ Building Management System is used in commercial, industrial, residential and governmental buildings to create a central computer controlled method of controlling, monitoring and optimizing operations such as heating, air-conditioning, lighting and security. The primary benefit of the product is to enable streamlined facility operation and reduced energy usage.

The contract calls for SBT to provide TTDZ with sales and technical training, technical data and promotional materials. SBT will also provide technical personnel to assist TTDZ to integrate the Siemens Apogee™ Building Management System with TTDZ's own energy-saving equipment and solutions.

"We are very pleased to sign this distribution and cooperative agreement with SBT," said Bondy Tan, President and Chief Executive Officer of Global Innovative. "Our comprehensive line of energy-saving products and solutions will be enhanced by the addition of the Siemens Apogee™ Building Management System, enabling us to provide even greater energy-saving opportunities to current and prospective clients." Continued Mr. Tan, "We are excited to be associated with a market-leader like Siemens, and we look forward with confidence to growing our sales of energy-saving solutions with the addition of such leading-edge products and technologies."

Siemens AG (NYSE: SI) is one of the world's largest electrical engineering and electronics companies, with over 434,000 employees in 190 countries worldwide, and over EUR 75 billion in annual revenue. Siemens is the market leader and world's largest supplier of products, systems, solutions and services for industrial automation and building technology. SBT is a Siemens operating company within the Automation and Control business group. Based in Shanghai, SBT is engaged in the design, sales and installation of products and systems for building automation, climate control, energy saving and other solutions.

About Global Innovative

Global Innovative Systems Inc. (OTC BB: GBSY) delivers total energy management solutions. Since 1999, over 100 commercial, industrial, government and multi-residential clients have benefited from Global Innovative's solutions. From energy audits, to customized design, supply of leading-edge products and technical consultancy, Global Innovative delivers solutions which optimize energy consumption, lower costs and enhance competitiveness for clients. Global Innovative operates through wholly owned subsidiary Tech Team Holdings Limited. Our headquarters are in Hong Kong, and we have offices in Singapore, China, Macau, Canada, and the United States.

Safe Harbor Provision

The Private Securities Litigation Reform Act of 1995 provides a "Safe Harbor" for forward-looking statements. This Press Release may contain, in addition to historical information, forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are identified by their use of terms and phrases such as "believe," "expect," "plan," "anticipate" and similar expressions identifying forward-looking statements. Investors should not rely on forward-looking statements because they are subject to a variety of risks, uncertainties and other factors that could cause actual results to differ materially from Global Innovative's expectations, and Global Innovative expressly does not undertake any duty to update forward-looking statements. These factors include, but are not limited to, the ability of TTDZ to successfully integrate the Siemens Apogee™ Building Management System with its existing line of products; TTDZ's ability to attract clients and close sales agreements which include the Siemens Apogee™ Building Management System as part of the solution; and other factors which may cause the actual results, performance or achievements of the Global Innovative to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Information concerning potential factors that could affect Global Innovative is detailed from time to time in the company's reports filed with the Securities and Exchange Commission.

Contact Information

  • For more information, please contact:
    Global Innovative Systems Inc.
    Investor Relations
    1-888-852-8838
    Website: www.gistt.com
    Email: Email Contact