updated 12/15/2010 7:15:19 AM ET 2010-12-15T12:15:19

NEW YORK, Dec. 15, 2010 (GLOBE NEWSWIRE) -- China Carbon Graphite Group, Inc. (OTCBB:CHGI) ("China Carbon"), the largest wholesale supplier of fine grain and high-purity graphite in China and one of the nation's top producers of carbon and graphite products, is pleased to announce that it has appointed Grace King as its senior vice president of finance. 

Ms. King has over twenty years of financial transaction experience with extensive contacts and expertise in China. Prior to joining China Carbon, Ms. King acted as the managing partner of APEC Investment, Inc., where she provided investment banking and advisory services to small and mid-sized Chinese companies. Prior to that, Ms. King was the managing director of China business development for Primary Capital, providing a full range of investment banking services to Chinese clients. From 1999 to 2007, Ms. King was a senior investment advisor for Great Eastern Securities, Inc., responsible for overseeing the development of the firm's Asia business. From 1990 to 1998, Ms. King worked as a financial consultant and fund manager for Transpacific Exchange Corp, a private equity fund with a principal focus on China. From 1985 to 1989, Ms. King was employed with Merrill Lynch, as a member of their international corporate group, where she completed transactions including bond underwritings, private placements, privatizations, and mergers and acquisitions. She was one of two key investment bankers who successfully launched Taiwan Fund, Inc. (NYSE:TWN), and served as a key banker on Gulf Canada's global offering of over one billion USD. Ms. King graduated with a BS/MBA degree in Finance and International Business in May 1984 from Columbia University.

"We would like to welcome Grace to China Carbon. Grace is a proven leader with extensive financial experience and management skills which will help China Carbon to further position itself as an industry leader. I am very excited to be working with Grace," said Donghai Yu, Chief Executive Officer of China Carbon.

About China Carbon Graphite Group, Inc.

China Carbon Graphite Group, through its affiliate, Xingyong Carbon Co., Ltd., manufactures carbon and graphite based products in China. The company is the largest wholesale supplier of fine grain and high-purity graphite in China and is one of the nation's top overall producers of carbon and graphite products. Fine grain graphite is widely used in smelting for colored metals and rare-earth metal smelting as well as in the manufacture of molds. High purity graphite is used in metallurgy, mechanics, aviation, electronics, atomic energy, the chemical industry, food industry and a variety of other fields. In September 2007, the company was approved and designated by the Chinese Ministry of Science & Technology as a "National Hi-tech Enterprise" amongst over 400 other carbon graphite producers in China. China Carbon is the only non-state-owned company to receive this honor. For more information, visit www.chinacarboninc.com.

Safe Harbor Statement

This release contains certain "forward-looking statements" relating to the business of the Company and its subsidiary companies. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions. Such forward-looking statements involve known and unknown risks and uncertainties that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Investors 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.

CONTACT:  Nuwa Group, LLC
          Investor Contact:
          Mr. Kevin Fickle

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