SOURCE: China Direct Trading Corp.

August 24, 2006 10:20 ET

China Direct Trading Corp. to File June 30, 2006 Form 10-Q Today

Investor Teleconference Monday, August 28, 2006

FORT LAUDERDALE, FL -- (MARKET WIRE) -- August 24, 2006 -- China Direct Trading Corp. (OTCBB: CHDT): announced today that it will be filing its Form 10-Q for the quarter ending June 30, 2006 today with the U.S. Securities and Exchange Commission. The filing will eliminate the "e" designation on China Direct's trading symbol.

China Direct has scheduled an investor teleconference at 10:00 a.m., local Miami time, tomorrow, Friday, August 25, 2006. If you wish to participate, China Direct is hosting an investor teleconference to discuss second quarter 2006 results and update investors on current corporate and subsidiary initiatives on Monday, August 28, 2006 at 10:00 AM Eastern Time. To participate in the call, the dial-in number is (319) 632-1100, then enter access code 260372 and push the pound (#) key. A replay of the call will be available for two weeks and will be accessible at (641) 985-5006, access code 260372#. A replay of the call will also be available from the web site one day following the call.

"With the dramatic month-to-month sales growth experienced by our majority-owned Complete Power Solutions, LLC subsidiary last quarter and a new field auditor, it took longer than expected to consolidate the financial statements for the June 30, 2006 Form 10-Q," said Howard Ullman, Chief Executive Officer and President of China Direct. "We do not anticipate any problem in timely filing the next Form 10-Q," he added.

FORWARD-LOOKING STATEMENTS: This press release, including the financial information that follows, contains "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements are based on China Direct's and its subsidiaries' managements' current expectations and assumptions, and involve risks and uncertainties. Such expectations and assumptions may prove to be faulty or incorrect. Actual results may differ materially from those anticipated results set forth in the statements. The forward-looking statements may include statements regarding consumer demand, product orders, product development, product potential or financial performance. No forward-looking statement can be guaranteed, and actual results may differ materially from those projected. China Direct undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise. Approval of products by governmental authorities does not mean that the products will be accepted by consumers or produce any revenues or profits. Forward-looking statements in this press release and risks associated with any investment in China Direct, which is a "penny stock" company, should be evaluated together with the many uncertainties that affect our business, particularly those mentioned in the cautionary statements in current and future China Direct SEC Filings, which statements we incorporate by reference herein.

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