China Bio Energy Reports Fiscal 2007 Financi...(lene).Sales of oil products in 2007 curr...)

Bio-diesel refers to a clean burning alternative fuel produced from domestic, renewable resources. Bio-diesel is made through a chemical process whereby glycerin is separated from fat or vegetable oil. Bio-diesel contains no petroleum, but it can be blended at any level with petroleum diesel to create a bio-diesel blend and can be used in compression-ignition (diesel) engines with little or no modifications. Bio-diesel is the ideal substitute of petro-diesel and it has many benefits, including excellent environmental performance, superior ignition, compatibility with existing diesel engines, better lubrication to extend the life time of engines, and renewability. Sales of bio-diesel fuel in 2007 account for approximately 6% of the Company's total revenues. The percent of bio-diesel in the Company's total revenues will increase greatly as the output of biodiesel increases.

Safe Harbor Statement

This press release contains certain statements that may include "forward looking statements." All statements other than statements of historical fact included herein are "forward-looking statements." These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are fil
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