Thursday, November 30, 2006

China Technology Announced Proposed Annual Meeting of Shareholders and Substantial Shareholder Restructuring

HONG KONG, Nov. 30 /Xinhua-PRNewswire-FirstCall/ -- China Technology Development Group Corporation CTDC ("CTDC" or "the Company") today announced the Company's Board of Directors ("the Board") convened a meeting attended by all board members on November 27, 2006. The Board reviewed and unanimously agreed that the 2006 Annual General Meeting of the shareholders (the "Annual Meeting") will be held on December 22 and the close of business on November 28, 2006, New York time, has been fixed as the record date of the Annual Meeting.

The Board also reviewed, approved and proposed for submission to the shareholders during the Annual Meeting, transactions involving the change of substantial shareholders through the sale of outstanding shares by existing substantial shareholders, and issuance of new shares and warrants for the purchase of new shares, by the Company to new investors (the "Proposed Transactions").

A full version of the notice of the Annual Meeting and the shareholders' circular are filed in Form 6-K together with copies of the executed agreements in connection with the Proposed Transactions, which is available at .

About CTDC:

CTDC is engaged in information network security and nutraceutical business in the People's Republic of China. CTDC's existing major shareholder is Beijing Holdings Limited, a conglomerate with over $3 billion in total assets beneficially owned by the Beijing People's Municipal Government. For more information, please visit our website at .

Forward-Looking Statement Disclosure

This press release of the Company, which is a foreign private issuer, on Form 6-K contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Act of 1934. These statements relate to future events or the Company's future financial performance. The Company has attempted to identify forward-looking statements by terminology including "anticipates", "believes", "expects", "can", "continue", "could", "estimates", "expects", "intends", "may", "plans", "potential", "predict", "should", or "will" or the negative of these terms or other comparable terminology. These statements are only predictions, uncertainties and other factors may cause the Company's actual results, level of activity, performance or achievements to be materially different from any future results, level of activity, performance or achievements expressed or implied by these forward-looking statements. The information in this Report on Form 6-K is not intended to project future performance of the Company. Although the Company believes that the expectations reflected in the forward- looking statements are reasonable, the Company does not guarantee future results, level of activity, performance or achievements. The Company's expectations are as of the date this Form 6-K is filed, and the Company does not intend to update any of the forward-looking statements after the date this Report on Form 6-K is filed to conform these statements to actual results, unless required by law.


China Technology Development Group Corporation
Michael Siu, Executive Director, Chief Financial Officer and Secretary
Tel: +852-3112-8461

Copyright 2006 PRNewswire

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