Advanced Battery Begins Construction of Third Battery Production Facility

Advanced Battery Technologies, Inc. ABAT announced that according to the contract, ABAT had completed the transfer of assets relating to the purchased land and plant in Dongguan City, Guangdong Province and has now entered a phase of construction according to the company's overall strategic business development plan. The total project investment is approximately $83 million. The project investment has been approved by the Foreign Trade and Economic Council of Dongguan City, which was (2011) No.6 documents. The economic benefit of the project is estimated to reach approximately $151 million in revenue annually with net income approximating $30 million. The project is expected to be fully operational by October 2011. Currently, the company attaches great importance to implementation of the project development and management plan. Chairman of the Board and CEO, Mr. Fu Zhiguo, conducts daily on-site inspections to monitor the progress of the project and insure that the construction schedule is maintained.