SOURCE: SmartHeat Inc.

June 23, 2008 09:14 ET

"Green" Technology Company SmartHeat Inc. Applies for Listing on the NASDAQ Stock Market

NEW YORK, NY--(Marketwire - June 23, 2008) - SmartHeat Inc. (Website: (OTCBB: SMHT), a market leader in China's "green" technology heat energy saving industry, today announced that the Company has applied for listing of its common stock on the NASDAQ Stock Market.

James Jun Wang, SmartHeat's Chief Executive Officer, commented: "SmartHeat is well positioned in China's heat energy saving industry. Our products help industrial and residential customers significantly reduce monthly heating bills due to more efficient heat energy use. Since the vast majority of heat use in China is derived from coal burning, efficient heat energy use provides a practical solution to China's environmental and pollution problems. More information about SmartHeat is available at our website, including our latest corporate PowerPoint. We look forward to working diligently towards a successful NASDAQ listing."

About SmartHeat Inc.

SmartHeat Inc. is a US company with its primary operations in China. SmartHeat is a market leader in China's "green" technology heat energy saving industry. SmartHeat manufactures plate heat exchangers and compact plate heat exchanger units -- the technology that helps to capture and recycle waste heat thus reduces fossil fuel related costs and pollution. SmartHeat's products and technology have broad residential and industrial applications. China's heat transfer market is currently estimated at approximately $2.4 billion with double digit annual growth according to China Heating Association. Additional information about SmartHeat is available at its corporate website:

Safe Harbor Statement

All statements in this press release that are not historical are forward-looking statements made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. There can be no assurance that actual results will not differ from the company's expectations. SmartHeat's actual results may differ from its projections. Further, preliminary results are subject to normal year-end adjustments. You are cautioned not to place undue reliance on any forward-looking statements in this press release as they reflect SmartHeat's current expectations with respect to future events and are subject to risks and uncertainties that may cause actual results to differ materially from those contemplated. Potential risks and uncertainties include, but are not limited to, the risks described in SmartHeat's filings with the Securities and Exchange Commission.

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