updated 12/13/2010 10:46:04 AM ET 2010-12-13T15:46:04

JIANGSU, China, Dec. 13, 2010 (GLOBE NEWSWIRE) -- China Green Energy Industries, Inc., (OTCBB:CGRE),a leading manufacturer and distributor of high tech and environmentally friendly consumer products, today announced that it has been awarded an initial purchase order for network cables by one of the leading global IT distributors. The company estimates the value of the purchase order to be approximately $2.0 million over the next six months.

Jianliang Shi, Chairman and Chief Executive Officer commented, "We are very pleased to commence this relationship with a leading Fortune 100 IT distributor. This important agreement is further evidence of our high quality products, superior customer service and competitive pricing. We have established a very solid foundation through our network and HDMI cable businesses, which continue to grow at a rapid pace and generate strong free cash flow. As a result of these legacy businesses, we have established a world-class customer base and global distribution network, which we plan to leverage in order to expand sales of our environmentally friendly consumer products and, in particular, cryogen-free refrigerators and light-weight electric vehicles (LEV) in Europe and Asia." 

About China Green Energy Industries

China Green Energy Industries is a leading manufacturer and distributor of high tech and environmentally-friendly consumer products. The company has three main product lines: light weight electric vehicles (LEV), cryogen-free refrigerators, and network/HDMI cables. It has well-established sales channels in China, with significant exports to Europe. China Green Energy Industries manufactures and distributes its own products under the brand name "Best," and also sells its product under private label to leading OEMs and Fortune 500 companies such as Wal-Mart, Carrefour, Home Depot, Ford, Pepsi, Coca-Cola, Carlsberg, Disney, etc.  Additional information about the company is available at: www.chinagei.com .

This press release may contain statements that constitute "forward looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. The words "may," "will," "expect," "anticipate," "continue," "estimate," "project," "intend," and similar expressions are intended to identify forward-looking statements. These statements appear in a number of places in this document and include statements regarding the intent, belief or expectation of the company, its directors or its officers with respect to events, conditions, and financial trends that may affect future plans of operations, business strategy, operating results, and financial position. Forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties and that actual results may differ materially from those included within the forward-looking statements as a result of various factors. These risks and uncertainties include, but are not limited to, the factors mentioned in the "Risk Factors" section of the company's Current Report on Form 8-K filed on June 11, 2010, and other risks mentioned in this press release or in our other reports filed with the Securities and Exchange Commission (the "SEC") since the filing date of the Registration Statement. Although these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect the company's current judgment regarding the direction of the business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested herein. Except as required by law, the company undertakes no responsibility or obligation to update publicly these forward-looking statements, but may do so in the future in written or oral statements.

CONTACT:  Crescendo Communications, LLC 
          David Waldman
          Vivian Huo
          (212) 671-1020

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