SHENZHEN, China, Apr. 29, 2010 (PRNewswire - Asia) – China Security & Surveillance Technology, Inc. ("CSST" or the "Company") (NYSE: CSR; Nasdaq Dubai: CSR), a leading integrated security and surveillance solution provider in the P.R.C. , today reported an update on the personal loan redemption of Mr. Guoshen Tu, Chairman and Chief Executive Officer of CSST.

On April 28, 2010, Whitehorse Technology Limited (“Whitehorse”), a business entity wholly owned by Mr. Tu, entered into a Notes Repurchase and Warrant Purchase Agreement (“Repurchase Agreement”) for the redemption of US$50,000,000 in aggregate principal amount of its Exchangeable Senior Secured Notes (“Notes”) which will be due in 2012, issued under an indenture dated January 11, 2008.

The Repurchase Agreement provides, among other things, that Whitehorse will:

• Pay US$30,000,000 to the DB Trustees (Hong Kong) Limited (“Trustee”) on or prior to May 5, 2010 in exchange of partial redemption of the Notes, upon which the Trustee will be instructed by the existing holders of the Notes to return 8,800,000 million pledged shares
  
  
• Pay the remaining US$20,000,000 to the Trustee and issue and deliver Warrants purchasing up to 4,400,000 shares of CSST’s Common Stocks owned by Whitehorse to the existing holders of the Notes on or prior to June 15, 2010, for the cancellation of the remaining outstanding Notes and the return of the remaining 6,708,085 pledged shares. The Warrants are exercisable after one year of the issuance with an exercise price of US$10 per Company share. Whitehorse has a right to redeem the Warrants in its entirety on or before September 30, 2010.
  

Mr. Tu commented, “The arrangement demonstrates my commitment to the shareholders and the Company. With our continued market leadership, our mission to provide total security solutions in China remains unchanged. The management team together with all of our dedicated CSST employees will continue to lead the Company to capitalize on the growth opportunities in the security & surveillance industry.”

CSST was not a party to any of the Repurchase Agreement or any related agreements and did not make any representations, warranties or covenants in connection with the Notes, Repurchase Agreement, other related transaction documents, or Whitehorse’s performance of its obligations thereunder. A copy of the Repurchase Agreement was filed as an exhibit to Whitehorse’s Schedule 13D/A which was filed with the Securities and Exchange Commission on April 29, 2010.

This release is an extract of that published by the Issuer. Accordingly, MAC Capital Limited accepts no responsibility to the accuracy of the information provided.

This press release may include certain statements, including without limitation statements concerning the proposed transaction and its impact on our prospects, that are not descriptions of historical facts, but are forward-looking statements. Forward-looking statements can be identified by the use of forward-looking terminology such as 'will,' 'believes,' 'expects' or similar expressions. Such information is based upon expectations of our management that were reasonable when made but may prove to be incorrect. All of such assumptions are inherently subject to uncertainties and contingencies beyond our control and based upon premises with respect to future business decisions, which are subject to change. The proposed transaction described in this press release may not proceed as described or at all as the parties may not agree on final terms. We do not undertake to update the forward-looking statements contained in this press release. For a description of the risks and uncertainties that may cause actual results to differ from the forward-looking statements contained in this press release, see our most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission ('SEC'), and our subsequent SEC filings. Copies of filings made with the SEC are available through the SEC's electronic data gathering analysis retrieval system at www.sec.gov.