China Integrated Energy (PINK:CBEH)

On September 18, 2012, Mr. Jeff Chan tendered a letter of resignation from his position as Chief Financial Officer of the Company, which will be effective as of September 30, 2012. Mr. Chan cites relocation and personal reasons for his decision to resign. Mr. Chan has stated that he has no disagreements with Company management and is not aware of any issues relating to the Company’s financial statements.

Ms. Gaihong Li (Lisa), age 35, will succeed Mr. Chan as Chief Financial Officer. Ms. Gaihong Li (Lisa) is currently Executive Vice President, Financial Controller and Director of the Company.

XI'AN, China, May 20, 2011 /PRNewswire-Asia/ -- China Integrated Energy, Inc. (Nasdaq: CBEH) (the "Company"), a leading non-state-owned integrated energy company in the People's Republic of China, today announced that it has appointed Jeff Chan to serve as Chief Financial Officer of the Company. Jeff replaces Albert Pu, who resigned as Chief Financial Officer on April 28, 2011.

Jeff is a fellow member of Association of Chartered Certified Accountants. Jeff joined Ernst & Young Shanghai office in 2005 after working for four years with another big four auditing firm in Malaysia. He served six years in various positions within Ernst & Young's assurance group, the last two as a senior manager.

Throughout his professional career, he has served a myriad of clients, mainly in industries that included production, semi-conductors, transformers, telecommunications, and power generation. In addition, he has also conducted special audits and due diligence reviews in connection with listings and acquisitions. He is conversant with US GAAP, IFRS, and PRC GAAP.

Mr. Xincheng Gao, Chief Executive Officer of the Company, said, "Jeff has a very strong background in accounting and a solid six-year track record at Ernst & Young. I am confident that Jeff's financial experience and capabilities will facilitate a smooth transition, and I look forward to working more closely with him to further enhance the Company's performance."