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China Integrated Energy, Inc. Announces Eight Million Share Public Follow-On Offering
Date:10/15/2009

XI'AN, China, Oct. 15 /PRNewswire-Asia-FirstCall/ -- China Integrated Energy, Inc. (Nasdaq: CBEH; the "Company"), a leading non-state-owned integrated energy company in China, today announced that it intends to offer, subject to market and other conditions, 8,000,000 shares of the Company's common stock. The Company intends to grant to the underwriters an option to purchase up to 1,200,000 additional shares of the Company's common stock to cover over-allotments, if any.

The Company anticipates that the net proceeds from the offering will be used for the expansion of its biodiesel production capacity, wholesale distribution and retail gas station businesses and for working capital and general corporate purposes. The Company's management will retain broad discretion over the use of proceeds, and the Company may ultimately use the proceeds for different purposes than what it currently intends.

Oppenheimer & Co. will act as the sole book-running manager for the offering. A registration statement relating to these securities has been filed with the Securities and Exchange Commission (the "SEC") but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. The registration statement is available from the SEC's website at http://www.sec.gov or from Oppenheimer & Co. Inc., Attention: Syndicate Prospectus Department, 300 Madison Avenue, 4th Floor, New York, NY, 10017, Telephone number: (212) 667-8563, Email: EquityProspectus@opco.com. The offering will be made only by means of a prospectus. Before you invest, you should read the prospectus, the registration statement, and the other documents that the Company has filed with the SEC for
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SOURCE China Integrated Energy, Inc.
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