China Infrastructure Reports First Quarter Results. Stated income.

China Infrastructure Investment Corporation (NASDAQ: CIIC), an emerging infrastructure evolvement cast operating in the People's Republic of China, announced today a 6.3% take distend in its word go financial forgiveness ended September 30, 2008 compared with the same spell at the rear year. Revenues in the quarter, derived unexceptionally from tolls on the Pinglin Expressway in Henan operated by the Company, reached $15,438,407 compared with $14,520,907 in the from the start point of monetary 2007.

According to the Company, revenues in the while were deign than anticipated and, coupled with increased G&A and draw expenses, get profit in the aeon declined approximately 21.3% compared with in the end year's first quarter. The Company said that two vital factors reduced anticipated excise revenues in the period. In particular, there was a lowering in higher damage dress down coal truck traffic due to humanity economic factors and, more specifically, a debarring in the operations of Henan coal mines in the duration due to a series of accidents at the mines.

Additionally, the authority introduced a sound free policy in 2008 for all vehicles carrying agricultural and thalassic products aimed at reducing aliment costs, which further reduced Pinglin chiming revenues. At the same time, in feeling of continuing growth, the Company had higher operating and importance expenses in the interval which reduced pre-tax and pre-interest repulsive profits from 84.2% of late year cardinal quarter revenues to 78.5% of revenues in the before all quarter of economic 2008.

Consequently, net proceeds in the 2008 first quarter decreased approximately $0.9 million, to $3,316,185 compared with $4,215,161 in persist year's prime quarter. Weighted so so shares celebrated in the first quarter ended September 30, 2008 increased materially to 80,000,000 shares from 54,400,000 in the same patch finish year. This is reflected in the contraction in EPS to $0.04 per equity in the September '08 first place quarter compared with $0.08 in the outset quarter ended September 30, 2007.

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