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China Bio Energy Reports Fourth Quarter and Record 2008 Financial Results
Date:3/23/2009

titute for, or superior to, the financial information prepared and presented in accordance with GAAP.

We use these non-GAAP financial measures for financial and operational decision making and as a means to evaluate period-to-period comparisons. Our management believes that these non- GAAP financial measures provide meaningful supplemental information regarding our performance and liquidity by excluding certain expenses and expenditures that may not be indicative of our ''recurring core business operating results,'' meaning our operating performance excluding not only non-cash charges, such as stock-based compensation, but also discrete cash charges that are infrequent in nature. We believe that both management and investors benefit from referring to these non-GAAP financial measures in assessing our performance and when planning, forecasting and analyzing future periods. These non-GAAP financial measures also facilitate management's internal comparisons to our historical performance and liquidity as well as comparisons to our competitors' operating results. We believe these non-GAAP financial measures are useful to investors both because (1) they allow for greater transparency with respect to key metrics used by management in its financial and operational decision making and (2) they are used by our institutional investors and the analyst community to help them analyze the health of our business.

    For more information, please contact:

    China Bio Energy Holdings Group
     Alex Gong, VP of Capital Market
     Tel:   +86-136-0127-9912
     Email: alexgong08@gmail.com
     Web:  http://www.cbeh.net.cn/

    OR

    HC International, Inc.
     Ted Haberfield, Executive VP
     Tel:   +1-760-755-2716
     Email: thaberfield@hcinternational.net
     Web:  
SOURCE China Bio Energy Holdings Group
Copyright©2009 PR Newswire.
All rights reserved

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