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Longwei Petroleum Investment Holding Announces Engagement of RedChip Companies to Lead Public and Investor Relations

Posted on: Tuesday, 9 December 2008, 10:30 CST

TAIYUAN CITY, China, Dec. 9 /PRNewswire-Asia-FirstCall/ -- Longwei Petroleum Investment Holding Ltd. (OTC Bulletin Board: LPIH), today announced that it has hired RedChip Companies Inc. to lead its public and investor relations programs.

"We chose RedChip Companies to lead our investor and public relations programs based on their strong international presence and their proven track record of success in increasing visibility for companies within the small-cap community," said Mr. Cai Yongjun, CEO of Longwei. "We are confident that RedChip will bring a unique level of dedication to our team and help us build solid and lasting relationships with new investors."

"We are very pleased with the opportunity to represent Longwei Petroleum," said Dave Gentry, president of RedChip Companies. He added: "Longwei is one of the few companies in China's Shanxi province who holds a Level I license, which allows them to purchase fuel at a discount directly from the refineries. They run a highly efficient distributorship and are experiencing solid growth. We look forward to leveraging our investor and public relations platform to add shareholder value for current and future investors."

About Longwei Petroleum Investment Holding Ltd.

Longwei is one of leading diesel, gasoline, fuel oil and solvent oil distributors/wholesalers in Taiyuan City, Shanxi Province, P.R. China. Longwei sells products mainly to large-scale gas stations, coal plants and power supply companies, and on a slighter scale to small, independent gas stations. The Company engages its business through its subsidiary, Longwei Trading, located in Taiyuan City, Shanxi Province. Longwei owns one state-of-the-art fuel storage facility at Taiyuan City, Shanxi Province, P.R. China. The facility includes 14 storage tanks with a total capacity of 50,000 metric tons and has ISO9000 certification.

Forward-Looking Statements

Certain statements contained herein constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current expectations, estimates and projections about Longwei's industry, management's beliefs and certain assumptions made by management. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Because such statements involve risks and uncertainties, the actual results and performance of the Company may differ materially from the results expressed or implied by such forward-looking statements. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Longwei's operations are conducted in the PRC and, accordingly, are subject to special considerations and significant risks not typically associated with companies in North America and Western Europe. These include risks associated with, among others, the political, economic and legal environment and foreign currency exchange. The Company's results may be adversely affected by changes in the political and social conditions in the PRC and by changes in governmental policies with respect to laws and regulations, anti-inflationary measures, currency conversion, remittances abroad, and rates and methods of taxation. Other potential risks and uncertainties include but are not limited to the ability to procure, properly price, retain and successfully complete projects, and changes in products and competition. Unless otherwise required by law, the Company also disclaims any obligation to update its view of any such risks or uncertainties or to announce publicly the result of any revisions to the forward-looking statements made here. Readers should review carefully reports or documents the Company files periodically with the Securities and Exchange Commission.

SOURCE Longwei Petroleum Investment Holding Ltd.

Source: PR Newswire

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