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China Spacesat and Thales Telematics sign a Memorandum of Understanding for China

03 January 2003

Beijing, December 18, 2002 - On the last day of the first China-Europe seminar on Galileo, China Spacesat and Thales Telematics have signed a Memorandum Of Understanding (MOU) in the field of telematics solutions. The two parties are committed to provide Chinese customers with best-of-breed telematics solutions based on high-precision Global Navigation Satellite Systems and two-way communications infrastructure (GSM/GPRS/Bluetooth).

China Spacesat is 100% controlled by China Aerospace Science and Technology Corporation (CASC). Thales Telematics is a fully owned subsidiary of Thales. The signing of the MOU was executed by Mr. X. Rui, the Board Chairman of China Spacesat, and Mr. S. Guérin, Senior Vice President of Thales Business Group Positioning Based Solutions.

According to the MOU, Thales Telematics and China Spacesat will create a joint venture company in Beijing to provide end-to-end telematics and fleet management solutions to customers in China, including the in-vehicle products and communications services. Applications include fleet and asset management, SMS messaging, voice communications, navigation, stolen vehicle tracking and recovery, remote diagnostics and emergency, and roadside assistance.

The Signing of the MOU by Thales Telematics and China Spacesat marks an important step towards a close cooperation between the two companies to develop the positioning-based services and applications in China, and to serve the customers with highest quality solutions.

About CASC

China Aerospace Science and Technology Corporation (CASC) is a large state-owned enterprise and the leading Chinese company for space applications, including research, design, development, production and test of launch vehicles, satellites, manned spacecraft. CASC employs over 100,000 employees and has ability and experience in the management of large system engineering projects, and has made great contributions to national economic construction, technical process and defence modernization.