SOURCE: GC China Turbine Corp.

GC China Turbine Corp.

February 02, 2010 09:00 ET

GC China Turbine Corp. Updates Recent Events -- Company on Track With 5 Year Plan

NEW YORK, NY--(Marketwire - February 2, 2010) - GC China Turbine Corp. (OTCBB: GCHT) (the "Company" or "GC China"), a leading Chinese manufacturer of twin blade wind turbines, wishes to review recent events and affirm that in the opinion of Management, the Company has firmly accomplished the first stage of its previously announced strategic plans for 2010 - 2015.

In December 2009, GC China signed a series of cooperation agreements on wind resource developments with the Baicheng Municipal Government of Jilin Province, China. The Company also recently inked a series of cooperation agreements for the development of onshore and offshore wind resources with the regional governments of Xilinguolemeng, Inner Mongolia, Dafeng Municipal Government of Jiangsu, Province and the Jianping Government of Liaoning. These regions are the key locations targeted for a 10 million kW-class wind power base in China.

In accordance with these agreements, from 2010 to 2015, GC China is entitled to exclusively develop 1600MW in wind farm resources at these locations, for which 1100MW would be onshore wind farms and 500MW for offshore wind farms. Based on accepted "wind resource model" projections which would oversee the ownership of these wind farms eventually exchange to the auspices of regional utilities, it is estimated that the utility providers could, depending on the condition and requirement of the wind farm, place orders for a corresponding number of 1.0MW, 2.5MW and 3.0MW wind turbines in order to fully exploit the locations and to meet their government mandated quotas. Such orders, if placed, could have an estimated value to GC China of US $1.1 billion (7.52 billion Yuan) based on currently accepted practices.

In addition to the agreements above, GC China has also reached a preliminary intent of cooperation with the Qianan, Tongyu and Changling County Governments of Jilin province for the development of 700MW in wind resources. The Company is also under discussions in Hebei, Qinghai and other regions for development cooperation plans that could encompass a total development capacity of up to 1200MW.

In 2009, GC China announced its aims for future strategic planning under the "wind resource model," with a focus on creating wind resource strategies targeting known development regions so as to reserve those locations for future marketing and development alliances. The Company's strategic plan was adopted in 2009 through a demonstration of the model held in conjunction with leaders and experts from the Chinese Ministry of Science and Engineering and Information Department.

Presently, GC China is conducting preliminary efforts for the second stage of construction at the Baicheng onshore wind power base in Jilin, and also working on the terms of acquisition for 70,000m(2) of offshore wind power in Dafeng of Jiangsu province. The Company is further pleased to announce that efforts for the development of its European R&D center have begun. Company Management is extremely pleased with the smooth progress on all fronts and believes that the many marketing objectives for 2010 - 2015 will be successfully achieved.

Additional details regarding the Company and its business, financial condition and management of GC China and related parties are filed as part of the Company's continuous public disclosure as a reporting issuer under the Securities Exchange Act of 1934 filed with the Securities and Exchange Commission's ("SEC") EDGAR database.

About GC China Turbine Corp. (OTCBB: GCHT)

GC China is a leading manufacturer of state-of-the-art 2-bladed wind turbines based in Wuhan City of Hubei Province, China. The Company holds a license to manufacture a groundbreaking technology which meets rigorous requirements for low-cost and high reliability. The technology was developed through a 10 year European research project costing over US$75 million. GC China's launch product is a 1.0 megawatt ("MW") utility scale turbine with designs for a 2.5MW and 3.0MW utility scale turbine in development. The Company's initial efforts have been rewarded with contracts of approximately US$135 million to-date. For more information visit: www.gcchinaturbine.com.

Notice Regarding Forward-Looking Statements

This news release contains "forward-looking statements" as that term is defined in Section 27A of the United States Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, completion of definitive agreements with local and provincial governments, wind farms and utility companies, number of wind turbine systems ordered, manufactured, delivered and installed, the Company's future strategic plans, the outlook for the Company's markets and the demand for its products, estimated sales, the development, costs and results of new business opportunities. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects and development stage companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.

ON BEHALF OF THE BOARD
GC China Turbine Corp.
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Marcus Laun, Director

For more information visit our website at: www.gcchinaturbine.com

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