Teleconference to be Held at 8:30 a.m. EDT on Tuesday, March 24, 2009 XI'AN, China, March 16 /PRNewswire-Asia-FirstCall/ -- China Recycling Energy Corp. (OTC:CREG) (BULLETIN BOARD: CREG) ("CREG" or "the Company"), a fast-growing industrial waste-to-energy solutions provider in China, today announced that it will report the fourth quarter and fiscal year 2008 financial results ended December 31, 2008, after the market closes on Monday, March 23, 2009. The Company will host a conference call, to be simultaneously Webcast, on Tuesday, March 24, 2009, at 8:30 a.m. Eastern Daylight Time / 8:30 p.m. Beijing Time. Interested parties may participate in the conference call by dialing 1-877-407-8035 (North America) or +1-201-689-8035 (International) approximately 10 minutes before the call start time. A live Web cast of the conference call will be available on the Company's Website at http://www.creg-cn.com/ . A replay of the call will be available through Tuesday, March 31, 2009 at 11:59 p.m. Eastern Daylight Time. Interested parties may access the replay by dialing 1-877-660-6853 (North America) or +1-201-612-7415 (International) and entering account number 286 and conference ID number 315790. An archived Webcast of the conference call will be available on the Company's Website at http://www.creg-cn.com/ . Today's announcement replaces an earlier version on the fourth quarter 2008 earnings date. About China Recycling Energy Corp. China Recycling Energy Corp. ("CREG" or "the Company") is based in Xi'an, China and provides environmentally friendly waste-to-energy technologies to recycle industrial byproducts for steel mills, cement factories and coke plants in China. Byproducts include heat, steam, pressure, and exhaust to generate large amounts of lower-cost electricity and reduce the need for outside electrical sources. The Chinese government has adopted policies to encourage the use of recycling technologies to optimize resource allocation and reduce pollution. Currently, recycled energy represents only an estimated 1% of total energy consumption and this renewable energy resource is viewed as a growth market due to intensified environmental concerns and rising energy costs as the Chinese economy continues to expand. The management and engineering teams have over 20 years of experience in industrial energy recovery in China. For more information about CREG, please visit http://www.creg-cn.com/ . Safe Harbor Statement This press release may contain certain "forward-looking statements" relating to the business of China Recycling Energy Corp. and its subsidiary companies. All statements, other than statements of historical fact included herein are "forward-looking statements." These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website at http://www.sec.gov/ . All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements. For more information, please contact: In China: Mr. Leo Wu Investor Relations China Recycling Energy Corp. Email: In the U.S.: Mr. Valentine Ding Investor Relations Grayling Tel: +1-646-284-9412 Email: DATASOURCE: China Recycling Energy Corp. CONTACT: China Recycling Energy Corp., Mr. Leo Wu, Investor Relations, or Grayling, Mr. Valentine Ding, Investor Relations, +1-646-284-9412, for China Recycling Energy Corp. Web site: http://www.creg-cn.com/

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