SOURCE: New Oriental Energy & Chemical Corp.

July 01, 2008 11:45 ET

New Oriental Energy & Chemical Added to the Russell Microcap Index

NEW YORK, NY--(Marketwire - July 1, 2008) - New Oriental Energy & Chemical Corp. (NASDAQ: NOEC), a specialty chemical and emerging alternative fuel manufacturer in The People's Republic of China (PRC), said today that the Company has been added to The Russell Microcap Index.

Mr. Chen Si Qiang, CEO and Chairman of the Board of New Oriental Energy & Chemical Corp., stated, "We were very pleased to learn that our Company has joined this widely recognized index, which is used by investment managers and institutional investors for index funds, and as a benchmark for active and passive investment managers worldwide and, consequently, should contribute to broadened ownership of our shares."

According to Russell Investments, membership in the Russell Microcap Index remains in place for one year and means automatic inclusion in the appropriate growth and value style indexes. Membership in the list, which is value weighted and includes only stocks incorporated in the United States, is determined primarily by objective market capitalization rankings and style attributes.

About New Oriental Energy & Chemical Corp.

New Oriental Energy & Chemical Corp. which recently upgraded its US listing to the NASDAQ Global Market (NASDAQ: NOEC), is an emerging alternative fuel and specialty chemical manufacturer based in Henan Province, China. The Company is focused on the production of Dimethyl ether (DME), methanol and fertilizer products. The Company sells its products primarily through a network of distribution partners. Additional information on the Company is available on its website at www.neworientalenergy.com.

About Russell

Russell Investments provides strategic advice, world-class implementation, state-of-the-art performance benchmarks and a range of institutional- quality investment products. Russell has more than $213 billion in assets under management as of March 31, 2008, and serves individual, institutional and advisor clients in more than 40 countries. Founded in 1936, Russell is a subsidiary of The Northwestern Mutual Life Insurance Company. Russell Global Indexes are unmanaged and cannot be invested in directly. For more information on Russell Indexes, please go to www.russell.com.

Safe Harbor Statement

This press release may contain forward-looking statements concerning New Oriental Energy & Chemical Corp. The actual results may differ materially depending on a number of risk factors including, but not limited to, the following: general economic and business conditions, development, shipment, market acceptance, additional competition from existing and new competitors, changes in technology or product techniques, and various other factors beyond its control. All forward-looking statements are expressly qualified in their entirety by this Cautionary Statement and the risk factors detailed in the Company's reports filed with the Securities and Exchange Commission. New Oriental Energy & Chemical Corp. undertakes no duty to revise or update any forward-looking statements to reflect events or circumstances after the date of this release.

Contact Information

  • Contact:

    Mr. Wang Gui Quan
    President
    New Oriental Energy & Chemical Corp.
    Xicheng Industrial Zone of Luoshan, Xinyang
    Henan Province, The People's Republic of China
    Tel: (011-86) 376-2169211

    Investors:

    Mark Miller
    East West Network Group
    mmeastwest@hotmail.com
    Ph: (770) 436-7429

    Press:

    Ken Donenfeld
    DGI Investor Relations
    donfgroup@aol.com
    kdonenfeld@dgiir.com
    Ph: (212) 425-5700
    Fax: (212) 425-6951