updated 4/5/2011 8:16:55 AM ET 2011-04-05T12:16:55

NEW YORK, April 5, 2011 (GLOBE NEWSWIRE) -- China Carbon Graphite Group, Inc. (OTCBB:CHGI) ("China Carbon" or the "Company"), the largest wholesale supplier of fine-grain and high-purity graphite in China and one of the nation's top manufacturers of carbon and graphite products, today announced it has filed Form 12b-25 with the Securities and Exchange Commission on April 1, 2011 to extend the filing of the Company's Form 10-K for the year ended December 31, 2010 for up to an additional fifteen calendar days. The Company has filed for an extension due to delays in compiling the required information for the preparation of the financial statements. The Company plans to release its Form 10-K and earnings announcement by April 15, 2011.

About China Carbon Graphite Group, Inc.

China Carbon Graphite Group, through its affiliate, Xingyong Carbon Co., Ltd., manufactures graphite and carbon based products in China. The company is the largest wholesale supplier of fine-grain and high-purity graphite in China and 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 the manufacture of molds. High purity graphite is used in metallurgy, mechanical industry, aviation, electronic, atomic energy, chemical industry, food industry and a variety of other fields. In September 2007, the Company was approved and designated by the Ministry of Science & Technology as a "National Hi-tech Enterprise" a distinction which the Company still holds. Of the more than 400 carbon graphite producers in China, China Carbon is the only non-state-owned company to receive this honor. For more information, please 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, including the risk factors set forth in the Company's annual report on Form 10-K and quarterly reports on Form 10-Q.

CONTACT: Investor Contact:
         Mr. Kevin Fickle
         NUWA Group, LLC
         Tel: +1-925-330-8315
         Email: Kevin@nuwagroup.com
         
         Company Contact:
         Donghai Yu
         China Carbon Graphite Group, Inc.
         Tel: +1-626-589-6525
         Email: ir@chinacarboninc.com

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