SOURCE: Strategic Rare Earth Metals Inc.

July 10, 2006 13:05 ET

China Granite Corporation Changes Name to Strategic Rare Earth Metals Inc.

MIAMI, FL -- (MARKET WIRE) -- July 10, 2006 -- China Granite Corporation (OTCBB: CGNT) is pleased to announce a change in name to Strategic Rare Earth Metals Inc. effective June 30, 2006. Strategic Rare Earth Metals Inc. has been issued a new trading symbol on the OTCBB and began trading under this new symbol on June 30, 2006. The new trading symbol for the Company is: SREH. The Company's new CUSIP number is 86277T 101.

Management and Directors of the Company believe this name change was necessary to more accurately reflect the new primary business focus of the Company from 2006 onward.

For additional information concerning this transaction, or other corporate activities, interested parties should contact Michael Miller, Vice President of Investor Relations, Strategic Rare Earth Metals Inc.

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