SOURCE: GC China Turbine Corp.

GC China Turbine Corp.

October 28, 2009 08:00 ET

GC China Turbine Corp. Signs Agreement for Advanced Wind Turbine R & D Program

CENTERVILLE, MA--(Marketwire - October 28, 2009) - GC China Turbine Corp. (OTCBB: GCHT) (the "Company") is pleased to announce that Wuhan Guoce Nordic New Energy Co. Ltd., a People's Republic of China company ("GC Nordic") has signed a framework agreement for the establishment of a joint venture design and research institute to be located in Sweden under the direction of the Company's future Chief Engineer, Mr. Tomas Lyrner.

The focus of the proposed institute is for the development of twin blade, 2.5 - 3.0 MW utility scale turbines. Additional design criteria calls for the maximum inclusion of Chinese manufactured components and for specific variants designed to address offshore or extreme operating conditions prevalent in China.

Mr. Lyrner is a noted Swedish wind power technology expert with over thirty years in the research, design, production and assembly of large scale wind turbines. He was directly involved in the design and development of the original wind turbine prototypes that are the basis for the 1.0 MW turbine currently offered by the Company. These units were originally developed and installed in Sweden under the auspices of a 10 year, US $75 million Royal Swedish Fund.

Initial funding in the amount of US $1.75 million will be provided by GC China Turbine Corp. after completion of the voluntary share exchange with GC Nordic. Operating expenses invested under the joint venture agreement will be administered by a Board of Directors, with Mr. Lyrner as both a Director and as Chief Technical Officer (CTO) of the proposed institute.

The agreement specifies that the implementation of the Joint Venture shall take place no later than December 30, 2009 and preliminary budget plans have been developed for overall research and design costs, salaries and other expenses to provide for the anticipated Swedish and Chinese researchers and technicians, certification costs and general operating expenses to be managed under the direction of Mr. Lyrner in his proposed role as Chief Engineer for the Company.

Further details regarding the Company and details of agreements with GC Nordic 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.

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, 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.

GC China Turbine Corp.
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Marcus Laun, Director

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