“We are pleased with our strong operating results year-to-date,” stated Mr. Cai Yongjun, Chairman and CEO of Longwei. “Our revenues for the first five months of our fiscal year ending June 30, 2012 are up 6.1% year-over-year to $204.8 million. We are also on track to close on our third facility as soon as possible. We are working with the seller and local officials to finalize the asset transfer.”

To date Longwei has paid a RMB 550 million (approximately $86.3 million USD) deposit toward the total purchase price of RMB 700 million (approximately $109.9 million USD) for the purchase of the assets of Huajie Petroleum, a fuel storage depot in northern Shanxi Province with a 100,000-metric-ton storage capacity. “With the closing of our third facility, Longwei becomes the dominant private storage facility operator in the central region of the PRC,” stated Mr. Cai. “We expect continued strong demand and have become more selective in our customer base to maintain our profit margins.”

“China’s economy is still expected to generate significantly more growth in petroleum consumption [in 2012] than any other major market in the world,” according to IHS CERA (Cambridge Energy Research Associates), a leading global energy research and advisory firm. “In particular, we expect demand for diesel and gasoline – the two key oil products in China – to remain relatively strong and underpin the country’s overall oil demand growth,” IHS CERA forecasts. “Power shortages are also expected to worsen and could lead to significant incremental diesel demand.”

“We believe the Company is well positioned to capitalize on the continued rising demand for petroleum products in the PRC, and we believe the addition of the new facility assets will further accelerate our revenue and earnings growth in fiscal 2012,” stated Michael Toups, CFO of Longwei. “We are also working to improve our level of transparency with our shareholders to keep them informed on our corporate developments during the year.”

About Longwei Petroleum Investment Holding Limited

Longwei Petroleum Investment Holding Limited is an energy company engaged in the storage and distribution of finished petroleum products in the People’s Republic of China. The Company’s oil and gas operations consist of transporting, storage and selling finished petroleum products, entirely in the PRC. The Company’s headquarters are located in Taiyuan City, Shanxi Province. The Company has a storage capacity for its products of 120,000 metric tons located at storage facilities in Taiyuan and Gujiao, Shanxi. The Company’s Taiyuan and Gujiao facilities can store 50,000 metric tons and 70,000 metric tons, respectively. The Company has the necessary licenses to operate and sell petroleum products not only in Shanxi but throughout the entire PRC. The Company’s storage tanks have the largest storage capacity of any non-government operated entity in Shanxi.

The Company seeks to earn profits by selling its products at competitive prices with timely delivery to coal mining operations, power supply customers, large-scale gas stations and small, independent gas stations. The Company also earns revenue under an agency fee by acting as a purchasing agent for other intermediaries in Shanxi, and through limited sales of diesel and gasoline at two retail gas stations, each located at the Company’s facilities. The Company seeks to continue to expand its customer base and distribution platform through the utilization of its large storage capacity, which allows the Company the flexibility to take advantage of pricing, supply and demand fluctuations in the marketplace.