Second Quarter 2011 Financial Highlights:

• Revenue increased 274%, from $3.2 million in Q2 2010 to $12.1 million in Q2 2011
• EBIDTA improved 11%, from $1.8 million in Q2 2010 to $2.0 million in Q2 2011
• Gross profit rose 1,070%, from $0.2 million in Q2 2010 to $2.7 million in Q2 2011
• Gross profit rate increased 214%, from 7% in Q2 2010 to 22% in Q2 2011
• Net income grew 22%, from $0.7 million in Q2 2010 to $0.9 million in Q2 2011
• Adjusted net income rose 279%, from $0.68 million adjusted net loss in Q2 2010 to $1.2 million in Q2 2011

"We are very pleased with our second quarter results," said China Carbon's CEO Donghai Yu. "Solid growth in our core businesses, fine and high purity graphite products, along with our capacity expansion drove 274 percent revenue growth from the second quarter of 2010 to the second quarter of 2011. This past quarter, we continued to see in China increased demand for coupled with a lack of supply of fine and high purity graphite products. As a result of these circumstances, these products maintained higher margins than graphite electrodes. Moreover, due to the soaring demand of high purity graphite in China's emerging solar and mold industries, the average unit price of high purity graphite products rose 98 percent in the second quarter of 2011 compared to the same period last year."

Due to these conditions, we continued our strategy of adjusting our product mix to meet current market demand. By boosting our supply of fine and high purity graphite products, and raising the price of our high purity graphite, we were able to realize considerable growth in our higher margin business. Our sales of high purity graphite alone reached approximately $9.4 million in the second quarter of 2011, which is a $9 million or 231 percent increase when compared to our sales of these products during the same period in 2010. We are very confident about our future as we expect the heightened demand for our higher margin products to extend through 2011, and we intend to continue to invest aggressively in our higher margin businesses in upcoming quarters to further improve profits.

2011 Second Quarter Financial Results

Revenue

During the three months ended June 30, 2011, we had sales of $12,145,024 as compared to sales of $3,248,351 for the three months ended June 30, 2010, an increase of $8,896,673, or approximately 273.9%. Our revenue was generated mainly from sales of graphite electrodes, fine grain graphite, high purity graphite, and semi-processed graphite products. Sales increase was mainly attributable to a significant increase in the demand of our products during the three months ended June 30, 2011 resulting from the market recovery, new customer developments, and change of product mix to include more high purity graphite products which average unit price increased 98% in the three months ended June 30, 2011 compared to the same period last year. The fast development of manufacturing of solar and mold products increased the demand of our products as raw material. Increased production capacity and increased unit prices also contributed to the increase of total sales. The increased unit price of high purity graphite is due to a large demand for such products in the market. We also had a decrease in the demand of high purity graphite in 2010. Since then, the company has been successful to improve its product mix to achieve higher profit by increasing sales of fine grain graphite and high purity graphite products which generate a better margin.

Cost of Sales & Gross Profit

During the three months ended June 30, 2011, our cost of sales was $9,456,762, as compared to $3,019,732 during the three months ended June 30, 2010, an increase of $6,437,030, or 213.2%. The increase in cost of sales was directly associated with the increase in sales. Our gross margin increased from 7.0% for the three months ended June 30, 2010 to 22.1% for the three months ended June 30, 2011. The increase reflects the variance in production mix, as the percentage of our sales of high purity graphite products, a higher margin product compared to graphite electrodes, increased significantly. Fine grain graphite products decreased its margin due to the market demand shifts more to purity graphite electrodes during the three months ended June 30, 2011. The increased sales and increased margin of high purity graphite products offset the margin and unit price of fine grain graphite products.

Net Income

Our net income for the three months ended June 30, 2011 was $882,303, as compared to net income of $720,640 for the three months ended June 30, 2010, an increase of $161,663, or 22.4%. Our 2010 net income benefited significantly from change in fair value warrants, so we experienced more real growth in net income this year.

Liquidity & Capital Resources

China Carbon had a cash and cash equivalent position totaling $4.1 million at the end second quarter of 2011 compared to $0.3 million at the end of the fourth quarter of 2010, an increase of $3.8 million or 1,270 percent.

Recent Updates

In July 2011, China Carbon completed the installations at its new facility, which includes baking and dipping plants, with the expectation that it will become fully operational by September 2011. Testing at the baking plant has already been completed and the Company anticipates that testing at the dipping plant will be finished by September 2011 with operations beginning shortly thereafter. Once the facility is completely up and running, China Carbon believes that its new facility will have an annual production capacity of 30,000 tons, which would double the Company's current annual production capacity. Through its expansion efforts, China Carbon is looking to better position itself to meet the growing demand the Company is seeing for its higher margin products.

Business Outlook

"Right now, we plan to have our new facility specialize in the manufacturing of higher margin products, like large size, ultra high power graphite electrodes, and high purity and fine gain graphite products," remarked Mr. Yu. "China's emerging aerospace, defense, automotive and clean tech end industries present the greatest demand for all types of graphite, specifically the forms of graphite we are planning to produce at our new facility. Moreover, we anticipate considerable growth in China's electric arc furnace steel production, which we believe will contribute to increased demand for large size, ultra high graphite electrodes. Accordingly, we are working hard to become the first company in China to produce 800 mm diameter ultra high power graphite electrodes. Through our product development and capacity expansion efforts, we are striving to enhance our production of higher margin products so we can gain further leverage in China's graphite sector."

About China Carbon Graphite Group, Inc.

China Carbon Graphite Group, through its affiliate, Xingyong Carbon Co., Ltd., manufactures graphite and carbon based products in China. The company is the largest wholesale supplier of fine-grain and high-purity graphite in China and one of the nation's top overall producers of carbon and graphite products. Fine grain graphite is widely used in smelting for colored metals and rare earth metal smelting as well as the manufacture of molds. High purity graphite is used in metallurgy, mechanical industry, aviation, electronic, atomic energy, chemical industry, food industry and a variety of other fields. In September 2007, the Company was approved and designated by the Ministry of Science & Technology as a "National Hi-tech Enterprise," a distinction which the Company still holds. Of the more than 400 carbon graphite producers in China, China Carbon is the only non-state-owned company to receive this honor. For more information, please visit www.chinacarboninc.com.

Safe Harbor Statement

This release contains certain "forward-looking statements" relating to the business of the Company and its subsidiary companies. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions. Such forward-looking statements involve known and unknown risks and uncertainties that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. 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 the risk factors set forth in the Company's annual report on Form 10-K and quarterly reports on Form 10-Q.

CONTACT: Investor Contact:
         Mr. Kevin Fickle, President
         NUWA Group, LLC.
         Tel: +1-925-330-8315
         Email: kevin@nuwagroup.com
         
         Company Contact:
         Mr. Donghai Yu
         China Carbon Graphite Group, Inc.
         Tel: +1-626-589-6525
         Email: ir@chinacarboninc.com

Source: Globe Newswire (August 15, 2011 - 8:00 AM EDT)

Third Quarter 2010 Highlights

• Revenue was $9,979,707, up 78.8% from the same quarter of 2009.
  
• Gross profit was $2,474,084, up 62.2% from the third quarter of 2009 with gross margin of 24.8%, slightly decreased 2.5% from 27.3% for the third quarter of 2009.
  
• Net income was $1,900,563, an increase of $965,298 or 100% from the third quarter 2009, and earnings per diluted share were $0.09 based on 21,435,161 shares.

Third Quarter 2010 Results

"We are pleased to announce solid financial results and robust growth in the quarter," Donghai Yu, CEO of the Company commented. "Our Third Quarter results came in strong as anticipated, we experienced 78.8% growth in our revenues year over year. Due to our long production cycle, in the quarter, we began to deliver most of the orders we received at the beginning of this year. We expect to see increased demand in higher margin ultra purity graphite electrode, fine grain and high purity graphite product lines. We see this demand extending through 2010 and into 2011, primarily due to anticipated growth in the automobile, aerospace, defense, iron and steel industries in China. Thus far, in 2010, we have doubled our capacity from 15,000 tons to 30,000 tons. We have also begun construction on a new 30,000 ton facility to meet the increasing demands of our customers. Additionally, we have sufficient capital to fund all of our raw material needs for our new capacity expansion through our RMB 180 million loan from China Construction Bank."

"We have recently increased our customer base and expect to establish long term relationships with each new customer. In turn we believe this will further strengthen our robust revenue growth in the future," Mr. Yu continued.

Three Months Ended September 30, 2010 and 2009

During the three months ended September 30, 2010, we had sales of $9,980,000, as compared to sales of $5,581,000, for the three months ended September 30, 2009, an increase of $4,399,000, or approximately 78.82%. Our revenue was generated mainly from sales of fine grain graphite, graphite blanks and semi-processed graphite products. Sales increase was attributable primarily to new customer development and market recovery.

For the three months ended September 30, 2010, four customers accounted for 10% or more of sales revenues, representing 34.0%, 25.0%, 14.0%, and 11.0%, respectively of the total sales. As of September 30, 2010, there were two customers that constitute 23.3% and 14.3% of the accounts receivable. As of December 31, 2009, there were three customers that accounted for 17.6%, 15.4% and 14% respectively of the accounts receivable.

During the three months ended September 30, 2010, our cost of sales was $7,506,000, as compared to $4,056,000, during the three months ended September 30, 2009, an increase of $3,450,000, or 85.05%. As a result, our gross profit increased $949,000, or 62.25%, for the three months ended September 30, 2010. Our gross margin decreased from 27.32% for the three months ended September 30, 2009 to 24.79% for the three months ended September 30, 2010. The decrease was associated with change in product mix. We increased sales of semi-processed graphite products that have lower gross margin.

Net income available for common shareholders was $1,900,000, or $0.09 per share (basic and diluted), for the three months ended September 30, 2010 compared to net income of $935,000, or $0.06 per share (basic and diluted), for the three months ended September 30, 2009.

Nine Months Ended September 30, 2010 and 2009

During the nine months ended September 30, 2010, we had sales of $18,075,000, as compared to sales of $12,132,000, for the nine months ended September 30, 2009, an increase of $5,943,000, or approximately 48.99%. We experienced a significant increase in the demand during the nine months ended September 30, 2010 resulting from the global economic recovery and new client's development.

For the nine months ended September 30, 2010, two customers accounted for 10% or more of sales revenues, representing 25.7% and 23.6%, respectively of the total sales.

During the nine months ended September 30, 2010, our cost of sales was $14,348,000, as compared to $9,013,000, during the nine months ended September 30, 2009, an increase of $5,335,000, or 59.19%. As a result, our gross profit increased $608, or 19.49%, for the nine months ended September 30, 2010. Our gross margin decreased from 25.71% for the nine months ended September 30, 2009 to 20.62% for the nine months ended September 30, 2010. The decrease of gross profit is due to the variance in production mix as in the nine month ended September 30, 2010 more semi-processed products are sold.

Net income available for common shareholders was $1,578,000, or $0.08 per share (basic and diluted), for the nine months ended September 30, 2010 compared to net income of $1,836,000, or $0.13 per share (basic and diluted), for the nine months ended September 30, 2009.

Financial condition

Net cash flow used in operating activities was $6,303,257 in the first three quarters of 2010 as compared to net cash flow provided by operating activities of $7,274,088 in the first three quarters 2009, a decrease of $13,577,345. The decrease is mainly due to increased advance to suppliers.

Net cash flow used in investing activities was $8,874,952 for the first three quarters of 2010 and $4,073,835 for the first three quarters of 2009. The increase is mainly because in the first three quarters 2010, approximately $5 million was used in acquisition of land use rights in connection with the construction of our new plants.

Net cash flow provided by financing activities was $20,959,505 for the first three quarters of 2010, compared to $2,690,362 provided by financing activities for the first three quarters of 2009. The increase is mainly due to increased loan and an equity financing.

About China Carbon Graphite Group, Inc.

China Carbon Graphite Group, through its affiliate, Xingyong Carbon Co., Ltd., manufactures carbon and graphite based products in China. The company is the largest wholesale supplier of fine grain and high purity graphite in China and one of the nation's top overall producers of carbon and graphite products. Fine grain graphite is widely used in smelting for colored metals and rare-earth metal smelting as well as the manufacture of molds. High purity graphite is used in metallurgy, mechanical industry, aviation, electronic, atomic energy, chemical industry, food industry and a variety of other fields. In September 2007, the company was approved and designated by Ministry of Science & Technology as a "National Hi-tech Enterprise." Of the 400 plus carbon graphite producers in China, China Carbon is the only non-state-owned company to receive this honor. For more information, visit www.chinacarboninc.com.

Safe Harbor Statement

This release contains certain "forward-looking statements" relating to the business of the Company and its subsidiary companies. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions. Such forward-looking statements involve known and unknown risks and uncertainties that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. 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.

CONTACT:  Nuwa Group, LLC
          Investor Contact:
          Mr. Kevin Fickle
          +1-925-330-8315
          Kevin@nuwagroup.com

Source: Globe Newswire (November 16, 2010 - 7:00 AM EST)

Financial Highlights

• Net revenue increased 68% year-over-year from the first quarter 2009; Net revenue increased 50% from the fourth quarter 2009;
• Gross profit increased 22% year-over-year from the first quarter 2009; Gross profit increased 209% from the fourth quarter 2009;
• Operating income increased 51% year-over-year from the first quarter 2009; Operating income increased 120% from the fourth quarter 2009;
• Cash and cash equivalents were $4.0 million at March 31, 2010 compared to $243,000 at March 31, 2009 and $2.7 million at December 31, 2009.
• Net cash flow from operation increased 276% to $3.1 million for the first quarter in 2010 from $0.8 million in 2009.

Net revenue increased 68% year-over-year to $4.8 million in the first quarter 2010 from $2.9 million in the first quarter 2009; Net revenue increased 50% from $3.2 million in the fourth quarter 2009. The increase in revenue attributes to the slight recovery of the general graphite market, in particular the demand for graphite electrodes.

Gross profit increased 22% year-over-year to $1.0 million in the first quarter 2010 from $841,000 in the first quarter 2009; Gross profit increased 209% from $(942,000) in the fourth quarter 2009. Gross margin declined from 29% in the first quarter of 2009 to 21% for the first quarter 2010. The lower gross margin was primarily due to the change in the product mix. In the first quarter 2009, we had fewer sales of the low margin graphite electrodes, which led to the higher than average gross margin.

Operating expenses was $456,000 in the first quarter 2010 compared to $464,000 in the same quarter 2009. General administration expenses increased significantly in the first quarter 2010 due to higher public company expenses in respect to a private offering and related S-1 registration.

Income from operations was $568,000 in the first quarter 2010 compared to $377,000 in the same period last year, an increase of 51%.

GAAP net loss available to shareholders was $1.0 million, with diluted loss per share of $0.06, compared with net income of $471,000 and diluted earnings per share of $0.04 in the first quarter of 2009. Excluding non-cash charges reflecting the change in fair value of warrants issued and deemed preferred stock dividend of $1.4 million, non-GAAP net income was 325,000,a year-over-year decrease of 31% due to increased operating expenses. Non-GAAP diluted earnings per share were $0.02 compared to $0.04 for the same quarter in 2009. Diluted weighted average number of shares outstanding for the first quarter of 2010 was 18.5 million compared to 12.8 million in the first quarter of 2009.

About China Carbon Graphite Group, Inc.

China Carbon Graphite Group, through its affiliate, Xingyong Carbon Co., Ltd., manufactures carbon and graphite based products in China. The Company is the largest wholesale supplier of fine grain and high purity graphite in China and is one of the nation's top overall producers of carbon and graphite products. Fine grain graphite is widely used in smelting for colored metals and rare-earth metal smelting as well as the manufacture of molds. High purity graphite is used in metallurgy, mechanical industry, aviation, electronic, atomic energy, chemical industry, food industry and a variety of other fields. In September 2007, the Company was approved and designated by China's Ministry of Science & Technology as a "National Hi-tech Enterprise." Of the 400 plus carbon graphite producers in China, China Carbon is the only non-state-owned company which has received this honor. For more information, visit http://www.chinacarbonin.... Any information on the Company's website or any other website does not constitute a part of this press release.

Safe Harbor Statement

This release contains certain "forward-looking statements" relating to the Company's business and that of its subsidiaries. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions. Such forward looking statements involve known and unknown risks and uncertainties that may cause actual results to be materially different from those described herein. 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 (www.sec.gov). All forward-looking statements attributable to the Company or to persons acting on its behalf are expressly qualified in their entirety by these factors. The Company does not assume a duty to update these forward-looking statements.

 -- Net sales for the third quarter increased 52.58% to $5,580,776
    from $3,657,515 for the second quarter.
 -- Gross profit for the third quarter increased 78.7% to $1,524,823
    from $853,285 for the second quarter.
 -- Third quarter gross profit margin was 27.32% compared to 23.33%
    for the second quarter, an increase of approximately 4%.
 -- Operating income for the third quarter increased 152.85% to
    $1,273,103 from $503,302 for the second quarter.
 -- Net income increased to $935,265 from $529,550, a 76.61% increase
    from the previous quarter.

The Company substantially increased its earnings in the third quarter by 50% to $.06 per diluted share compared to the previous quarter of $.04 per diluted share.

Donghai Yu, the Company's CEO, stated, "We are extremely pleased with the significant increase in our third quarter production and bottom line performance. The Company's shift from low margin graphite electrodes to fine grain and high purity graphite is now resulting in greater revenue growth and higher gross margins. We continue to see a strong demand for our products as our customer base expands. We believe we are well positioned to grow our existing operations and increase our revenue base through strategic acquisitions in China."

About China Carbon Graphite Group, Inc.

China Carbon Graphite Group, through its affiliate, Xingyong Carbon Co., Ltd., manufactures carbon and graphite based products in China. The company is the largest wholesale supplier of fine grain and high purity graphite in China and one of the nation's top overall producers of carbon and graphite products. Fine grain graphite is widely used in smelting for colored metals and rare-earth metal smelting as well as the manufacture of molds. High purity graphite is used in metallurgy, mechanical industry, aviation, electronic, atomic energy, chemical industry, food industry and a variety of other fields. In September 2007, the company was approved and designated by Ministry of Science & Technology as a "National Hi-tech Enterprise." Of the 400 plus carbon graphite producers in China, China Carbon is the only non-state-owned company to receive this honor. For more information, visit http://www.chinacarbongr....

Safe Harbor Statement

This release contains certain "forward-looking statements" relating to the business of the Company and its subsidiary companies. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions. Such forward-looking statements involve known and unknown risks and uncertainties that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. 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.

Capital Group Communications
Investor Relations:
Kevin Fickle
415-332-7200
kevin@capitalgc.com
Mark Bernhard
415-332-7200
mark@capitalgc.com

 Date:         November 20, 2009
 Time:         12:20 PM EST
 Presenter:    Donghai Yu, CEO
               Ting Chen, CFO
 Location:     The Millennium Broadway Hotel
               New York, NY

The Brean Murray, Carret & Co. 2009 China Growth Conference is a two-day conference (November 19-20, 2009) that consists of 25-minute presentation slots followed by 10-minutes of open floor Q&A sessions with institutional investors. Senior management of presenting companies, industry experts, and institutional investors will receive a unique and comprehensive view of China from a global perspective. China Carbon's management and directors will be available for 1x1 meetings before and after the Company's presentation.

About China Carbon Graphite Group, Inc.

China Carbon, through its affiliate, Xingyong Carbon Co., Ltd., manufactures carbon and graphite based products in China. The company is the largest wholesale supplier of fine grain and high purity graphite in China. Fine grain graphite is widely used in smelting for colored metals and rare earth metal smelting as well as the manufacture of molds. High purity graphite is used in metallurgy, mechanical industry, aviation, electronic, atomic energy, chemical industry, food industry and a variety of other fields. In September 2007, the company was approved and designated by Ministry of Science & Technology as a "National Hi-tech Enterprise." Of the 400 plus carbon graphite producers in China, China Carbon is the only non-state-owned company to receive this honor. For more information, visit http://www.chinacarbonin.... Information on the Company's website or any other website does not constitute a portion of this press release.

Safe Harbor Statement

This release contains certain "forward-looking statements" relating to the business of the Company and its subsidiary companies. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions. Such forward-looking statements involve known and unknown risks and uncertainties that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. 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 annual, quarterly and periodic reports and other material that is filed with the Securities and Exchange Commission and is available on its website www.sec.gov. All forward-looking statements attributable to the Company or to 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.

Capital Group Communications
Investor Relations:
Kevin Fickle
415-332-7200
kevin@capitalgc.com
Mark Bernhard
415-332-7200
mark@capitalgc.com

Mr. John Chen joined General Steel Holdings (NYSE:GSI - News) in May of 2004 and serves as its chief financial officer and also as a director. From August 1997 to July 2003, Mr. Chen was senior accountant at Moore Stephens, Wurth, Frazer and Torbet, LLP, Los Angeles, California, USA. He graduated from Norman Bethune University of Medical Science, Changchun City, Jilin Province, China in 1992. He received B.S. degree in accounting from California State Polytechnic University, Pomona, California in 1997.

Mr. Philip Yizhao Zhang is the chief financial officer of Universal Travel Group (NYSE:UTA - News). He has over 13 years of experience in portfolio investment, corporate finance, and accounting. Previously he held senior positions in Energroup Holdings Corporation, Shengtai Pharmaceutical Inc., China Natural Resources Incorporation, and Chinawe Asset Management Corporation. Mr. Zhang also had experiences in portfolio management and asset trading in Guangdong South Financial Services Corporation from 1993 to 1999.

Mr. Zhang is a certified public accountant of Delaware, and a member of the American Institute of Certified Public Accountants (AICPA). He received a bachelor's degree in Economics from Fudan University, Shanghai in 1992 and obtained an MBA degree with Financial Analysis and Accounting concentrations from the State University of New York, University at Buffalo in 2003. Currently, Mr. Yizhao Zhang is a director of China Green Agriculture, Inc., and China Education Alliance, Inc., respectively. Both of them are NYSE Amex-listed companies. He is also a director of Kaisa Group Holdings Ltd, one of the biggest property developers in China.

"We are very pleased to add these two highly qualified individuals to our board of directors," stated Mr. Donghai Yu, CEO of China Carbon Graphite Group. "The addition of Mr. Chen and Mr. Zhang to China Carbon's board will significantly improve corporate governance and move us closer to our goal of an eventual upgrade to a senior exchange such as AMEX or NASDAQ as it fulfills our requirement of an independent board."

About China Carbon Graphite Group, Inc.

China Carbon, through its affiliate, Xingyong Carbon Co., Ltd., manufactures carbon and graphite based products in China. The company is the largest wholesale supplier of fine grain and high purity graphite in China. Fine grain graphite is widely used in smelting for colored metals and rare earth metal smelting as well as the manufacture of molds. High purity graphite is used in metallurgy, mechanical industry, aviation, electronic, atomic energy, chemical industry, food industry and a variety of other fields. In September 2007, the company was approved and designated by Ministry of Science & Technology as a "National Hi-tech Enterprise." Of the 400 plus carbon graphite producers in China, China Carbon is the only non-state-owned company to receive this honor. For more information, visit http://www.chinacarbonin.... Information on the Company's website or any other website does not constitute a portion of this press release.

Safe Harbor Statement

This release contains certain "forward-looking statements" relating to the business of the Company and its subsidiary companies. These forward looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions. Such forward looking statements involve known and unknown risks and uncertainties that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. 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 annual, quarterly and periodic reports and other material that is filed with the Securities and Exchange Commission and is available on its website www.sec.gov. All forward-looking statements attributable to the Company or to 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.

Capital Group Communications
Investor Relations:
Kevin Fickle
  415-332-7200
  kevin@capitalgc.com
Mark Bernhard
  415-332-7200
  mark@capitalgc.com

Details for the Company's presentation are as follows:

 Event:     Corporate Presentation, Q&A, One-on-One meetings
 Date:      Wednesday, October 14, 2009 
 Location:  Fontainebleau Miami Beach,
            4441 Collins Ave Miami Beach, FL 33139
 Presentation Time: 3:00 PM
 Participants:  Donghai Yu, CEO and Ting Chen, CFO

About the Roth Conference

"Interest in the U.S.-listed China sector from our institutional client base has never been stronger," said Mark Tobin, Director of Research at ROTH. "This interest is driven by widespread confidence that China is poised to lead the world out of recession. The performance of U.S.-listed China equities reflects this confidence, with ROTH `s Research Universe of 53 companies gaining 104.7 percent year to date."

Tobin said, "ROTH's China research team believes the sector has substantial room for further growth and has selected companies for this conference that are well-positioned to benefit from China's overall strong economy and secular trends."

"ROTH's China Research Coverage Universe currently trades at a price-earnings (P/E) multiple of approximately 12.5x its 2010 EPS estimates, reflecting a 20% discount to Hong Kong's Hang Seng Index and a 40% discount to the Shanghai Composite. This earnings multiple also represents a significant discount to these companies expected growth rates," Tobin said.

About China Carbon Graphite Group, Inc.

China Carbon, through its affiliate, Xingyong Carbon Co., Ltd., manufactures carbon and graphite based products in China. The company is the largest wholesale supplier of fine grain and high purity graphite in China. Fine grain graphite is widely used in smelting for colored metals and rare earth metal smelting as well as the manufacture of molds. High purity graphite is used in metallurgy, mechanical industry, aviation, electronic, atomic energy, chemical industry, food industry and a variety of other fields. In September 2007, the company was approved and designated by Ministry of Science & Technology as a "National Hi-tech Enterprise." Of the 400 plus carbon graphite producers in China, China Carbon is the only non-state-owned company to receive this honor. For more information, visit http://www.chinacarbonin....

Safe Harbor Statement

This release contains certain "forward-looking statements" relating to the business of the Company and its subsidiary companies. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions. Such forward-looking statements involve known and unknown risks and uncertainties that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release.

Capital Group Communications
Investor Relations:
Kevin Fickle
  415-332-7200
  kevin@capitalgc.com
Mark Bernhard
  415-332-7200
  mark@capitalgc.com
Ventana Capital Partners
Ralph Amato
858-729-0075
Mobile: 619-895-6900
Ralph@ventanacapitalpartners.com

Crystal Equity Research has initiated coverage on CHGI with a Speculative Buy rating and a price target of $3.40 a share over the next twelve to eighteen months. The report projects earnings per share of $.20 for 2009 and $.34 a share for 2010. The Company's current book value is $36.7 million or $2.61 per share. The research report's "Outlook" of the company is as follows: "We believe successful completion of a planned capacity expansion is a 'game changer' for the Company and could lead to a significant increase in revenues and earnings in the next year." The entire report may be viewed at

 Date:      Thursday, September 10, 2009
 Time:      12:30 p.m. to 1:00 p.m. in Kennedy I Salon (4th Floor)
 Location:  New York Palace Hotel, 455 Madison Ave, New York, NY 10022
 Hotel Phone Number: 212 888 7000

At the conference China Carbon will also be meeting with institutional investors to discuss the Company's financial projections for next year and their acquisition strategy. More information about the Rodman & Renshaw Conference can be found at: http://www.rodm.com/conf....

About China Carbon Graphite Group, Inc.

China Carbon, through its affiliate, Xingyong Carbon Co., Ltd., manufactures carbon and graphite based products in China. The company is the largest wholesale supplier of fine grain and high purity graphite in China. Fine grain graphite is widely used in smelting for colored metals and rare earth metal smelting as well as the manufacture of molds. High purity graphite is used in metallurgy, mechanical industry, aviation, electronic, atomic energy, chemical industry, food industry and a variety of other fields. In September 2007, the company was approved and designated by Ministry of Science & Technology as a "National Hi-tech Enterprise." Of the 400 plus carbon graphite producers in China, China Carbon is the only non-state-owned company to receive this honor. For more information, visit http://www.chinacarbonin....

Safe Harbor Statement

This release contains certain "forward-looking statements" relating to the business of the Company and its subsidiary companies. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions. Such forward-looking statements involve known and unknown risks and uncertainties that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release.

Capital Group Communications
Investor Relations:
Kevin Fickle
  kevin@capitalgc.com
Mark Bernhard
  mark@capitalgc.com
415-332-7200
Ventana Capital Partners
Ralph Amato
Mobile: 619-895-6900
Ralph@ventanacapitalpartners.com

Details for the Company's presentation are as follows:

 Date:               Thursday, September 10, 2009
 Time:               12:30 p.m. to 1:00 p.m. in Kennedy I Salon (4th Floor)
 Location:           New York Palace Hotel, 455 Madison Ave,
                     New York, New York 10022
 Hotel Phone Number: 212 888 7000

At the conference, China Carbon will also hold one-on-one meetings with institutional investors to discuss the Company's financial projections for 2009 and their acquisition strategy. More information about the Rodman & Renshaw Conference can be found at: http://www.rodm.com/conf....

Additionally, Ventana Capital Partners, the Company's investment banker, will be attending the conference. Ventana recently retained the services of Crystal Equity Research to provide ongoing analyst research and weekly updates. Crystal Equity Research provides relevant, actionable information for financial professionals and self-directed investors. http://www.chinacarbonin....

Safe Harbor Statement

This release contains certain "forward-looking statements" relating to the business of the Company and its subsidiary companies. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions. Such forward-looking statements involve known and unknown risks and uncertainties that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release.

Capital Group Communications           
Investor Relations: 
Kevin Fickle
  kevin@capitalgc.com 
Mark Bernhard
  mark@capitalgc.com 
415-332-7200
Ventana Capital Partners
Ralph Amato
Mobile: 619-895-6900 
Ralph@ventanacapitalpartners.com

NEW YORK, Aug. 20, 2009 (GLOBE NEWSWIRE) -- China Carbon Graphite Group, Inc. (OTCBB:CHGI - News), one of China's largest producers and wholesale suppliers of fine grain and high purity graphite, announced that it received the government's approval to reduce the registered capital of its subsidiary from $4,000,000 to $100,000, which reduces the Company's obligation to make a capital contribution to its subsidiary from $4,000,000 to $100,000. The Company intends to fund the $100,000 obligation within 10 days. Upon payment of the $100,000, all outstanding obligations between the Company's subsidiaries will be satisfied.

Cash Reserves

As of June 30, 2009, the Company reported cash reserves totaling $6.3 million and shareholder equity of $36,676,000 resulting in a book value of $2.61 per share. The cash balance will be used for working capital along with the purchase of new machinery and equipment as well as upgrading the baking process in order to double the Company's production capacity from 15,000 tons to 30,000 tons annually.

Future Acquisitions

"While the economic slowdown has made for challenging times for many carbon graphite companies, it is also creating numerous opportunities to acquire quality assets with excellent growth potential at attractive valuations. We are aggressively pursuing acquisition opportunities in the carbon graphite industry and the specialty metals industry."

Results of Operations

Sales. During the six months ended June 30, 2009, we had sales of $6,551,000, as compared to sales of $13,652,000 for the six months ended June 30, 2008, a decrease of $7,101,000, or approximately 52%. During the three months ended June 30, 2009, we had sales of $3,658,000, as compared to sales of $7,924,000 for the three months ended June 30, 2008, a decrease of $4,266,000, or approximately 54%. The sales decrease reflects the effects of the global economic downturn as well as the six month closure of Xingyong's plant facilities as part of the Chinese government's program to reduce air pollution during the Olympics last year. This shutdown reduced sales in the first quarter of 2009 because graphite products require a six month lead time for production. During the second quarter of 2009, sales decreased primarily due to weaker graphite electrode demand. Steel manufacturers delayed purchasing new graphite electrodes because of the absence of improvement in the global steel demand. Most of the steel manufacturers are not running full capacity.

The Company is now starting to see an increase in order flow. The Company received purchase orders late in the second quarter that it expects will be filled in the third and fourth quarters of 2009.

Gross margin. Our gross margin increased from 25% for the six months ended June 30, 2008 to 26% for the six months ended June 30, 2009. For the three months ended June 30, 2009, our gross margin was 23% as compared with 27% for the second quarter of 2008. Our gross margin reflects our product mix. During the second quarter of 2009, our sales of products with a lower gross margin increased.

Selling, general and administrative expenses

Selling, general and administrative expenses totaled $814,000 for the six months ended June 30, 2009, as compared to $600,000 for the six months ended June 30, 2008, an increase of $214,000 or approximately 36%. Selling, general and administrative expenses totaled $350,000 for the three months ended June 30, 2009, as compared to $415,000 for the three months ended June 30, 2008, a decrease of $65,000 or approximately 16%. The increase in selling, general and administrative expenses was primarily due to the increase in public company expenses.

Net income available to common shareholders. Net income available for common shareholders was $1,000,000, or $0.08 per share (basic) and $0.07 per share (diluted) for the six months ended June 30, 2009 and $1,948,000, or $0.15 per share (basic) and $0.10 per share (diluted), for the six months ended June 30, 2008. Net income available for common shareholders was $530,000, or $0.04 per share (basic and diluted), for the three months ended June 30, 2009 and $1,559,000, or $0.12 per share (basic) and $0.08 per share (diluted) for the three months ended June 30, 2008. During the first quarter of 2008, the Company incurred a deemed preferred stock dividend of $854,000, which is a non-cash charge resulting from the conversion of notes that were issued in the December 2007 private placement into preferred stock and warrants. There was no similar charge in any other period, so the net income available for common stockholders is the same as the net income.

Safe Harbor Statement

This release contains certain "forward-looking statements" relating to the business of the Company and its subsidiary and affiliated companies. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions. Such forward-looking statements involve known and unknown risks and uncertainties that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. 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 (www.sec.gov). All forward-looking statements attributable to the Company or to 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.

Capital Group Communications
Investor Relations:
Mark Bernhard
415-332-7200
mark@capitalgc.com

Fine grain graphite has unique properties of good electric conductivity and heat conductivity, high strength under high temperature, high temperature resistance, corrosion resistance as well as easy machining. It is widely used in the field of monocrystalline silicon, semiconductor technology, precious metal smelting, various molds for continuous casting, diamond sintering as well as cemented carbide sintering. The 3500 mm long fine grain graphite is an ideal material to manufacture large-scale molds. Along with the growing demand for large, highly cosmetic molds, the market demand for high carbon content, large size fine grain graphite is also rapidly growing.

Donghai Yu, Chief Executive Officer of China Carbon stated, "We are very excited to introduce the 3500 mm long fine grain graphite. China used to import such large size fine grain graphite solely from Japan and Germany due to the technology disadvantage. China Carbon, as the first company to produce 3500 mm long fine grain graphite, distinguishes itself from its peers as China's largest and best fine grain graphite producer in China."

The import prices for the 3500 mm long fine grain graphite with different diameters are in the range of $11,700 - $17,500 per metric ton. China Carbon plans to price it at a highly competitive price range of $7,300 - $8,800 per metric ton with a gross margin of 35% in order to rapidly gain the market share. As of today, we received 200 metric tons pre-order from our customers.

About China Carbon Graphite Group, Inc.

China Carbon Graphite Group, through its affiliate, Xingyong Carbon Co., Ltd., manufactures carbon and graphite based products in China. The company is the largest wholesale supplier of fine grain and high purity graphite in China and one of the nation's top overall producers of carbon and graphite products. Fine grain graphite is widely used in smelting for colored metals and rare-earth metal smelting as well as the manufacture of molds. High purity graphite is used in metallurgy, mechanical industry, aviation, electronic, atomic energy, chemical industry, food industry and a variety of other fields. In September 2007, the company was approved and designated by Ministry of Science & Technology as a "National Hi-tech Enterprise." Of the 400 plus carbon graphite producers in China, China Carbon is the only non-state-owned company to receive this honor. For more information, visit http://www.chinacarbonin...

Safe Harbor Statement

This release contains certain "forward-looking statements" relating to the business of the Company and its subsidiary companies. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions. Such forward-looking statements involve known and unknown risks and uncertainties that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release.

CONTACT:  Capital Group Communications
          Investor Relations
          Mark Bernhard
          415-332-7202
          mark@capitalgc.com

Source: GlobeNewswire (June 11, 2009 - 3:36 PM EDT)

Net sales were $2,894,000 in the first quarter 2009 compared to $5,728,000 in the first quarter 2008. The sales decrease reflects the closure of Xingyong's plant facilities as mandated by the Chinese government for the Olympics in August 2008. The closure caused the Company to shut down its production. The Company requires a 6 months production cycle and therefore was unable to resume production until March of 2009.

Gross margins increased from 23.8% for the first quarter 2008 to 29.1% for the first quarter 2009. The improvement in gross margin was due to our production focus shift from graphite electrodes to higher margin products such as fine grain graphite and high purity graphite.

Even though the Company had only one month of production in the first quarter, net income increased to $471,000, or $0.04 per diluted share, for the first quarter of 2009, compared to $389,000, or $0.02 per diluted share, for the first quarter of 2008.

Donghai Yu, CEO of China Carbon, commented, ``We have not only maintained but improved our gross margin. We will continue to focus on production of high quality fine grain graphite and high purity graphite to maintain high margins in the future.''

Donghai Yu also made the following comments in regards to several new Company events:

Financing

``As one of the largest privately owned employers in Inner Mongolia, we have been recommended by the local government of Inner Mongolia to apply for a RMB 180,000,000 loan (approximately $26,000,000 US) through the Central government's economic stimulus plan. Once approved, it will expedite the process of doubling our production capacity to 30,000 metric tons annually and allow us to develop nuclear graphite for the more than 40 nuclear reactors the government is seeking to build by 2015.''

Recapitalization

``Under the laws of the Peoples Republic of China (the ''government`` or ''PRC``), China Carbon cannot acquire Xinghe Xingyong Carbon Co., Ltd. (''Xingyong``) directly, through which we are engaged in the manufacture of carbon and graphite products. As a result, we set up a wholly foreign owned company Xinghe Yongle Carbon Co., Ltd. (''Yongle``) in PRC. Yongle entered into a series of agreements with Xingyong which give us effective control over the business of Xingyong. On May 21, 2009 the Company's Board of Directors approved the reduction of Yongle's registered capital from $4,000,000 to $100,000 and has submitted the reduction to the PRC for approval. We expect approval for the recapitalization in the next 60 days. These actions will effectively reduce the intercompany investment obligations owed to Yongle from $4,000,000 to $100,000 and eliminate possible fines or penalties by the PRC business bureau as previously described in the Company's 10Q filing.''

Future Acquisitions

``While the economic slowdown has made for challenging times for many carbon graphite companies, it is also creating numerous opportunities to acquire quality assets with excellent growth potential at attractive valuations. We are aggressively pursuing acquisition opportunities in the carbon graphite industry and the specialty metals industry.''

Financial Projections for 2009

``As we look at the remainder of 2009, we expect that China Carbon will achieve a 15% to 25% increase in top line and bottom line in 2009. We are encouraged as the overall economic condition has been steadily improving in China. We are especially encouraged by the strong demand for our high quality fine grain graphite and high purity graphite.''

About China Carbon Graphite Group, Inc.

China Carbon is one of the nation's top three producers of specialty carbon and graphite products. The Company, through its affiliate, Xingyong Carbon Co., Ltd., manufactures carbon and graphite based products in China. The company is the largest wholesale supplier of fine grain and high purity graphite in China and one of the nation's top overall producers of carbon and graphite products. Fine grain graphite is widely used in smelting for colored metals and rare earth metal smelting as well as the manufacture of molds. High purity graphite is used in metallurgy, mechanical industry, aviation, electronic, atomic energy, chemical industry, food industry and a variety of other fields. In September 2007, the company was approved and designated by Ministry of Science & Technology as a ``National Hi-tech Enterprise.'' Of the 400 plus carbon graphite producers in China, China Carbon is the only non-state-owned company to receive this honor. For more information, visit http://www.chinacarbonin....

Safe Harbor Statement

This release contains certain ``forward-looking statements'' relating to the business of the Company and its subsidiary companies. These forward-looking statements are often identified by the use of forward-looking terminology such as ``believes,'' ``expects'' or similar expressions. Such forward-looking statements involve known and unknown risks and uncertainties that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release.

Contact:

          Capital Group Communications
          Investor Relations:
          Mark Bernhard
          415-332-7200
          mark@capitalgc.com

Fiscal Year 2008 Highlights

  -- Net revenues increased 7.67% to a record $27.3 million
  -- Gross profit increased 36.41% to a record $6.7 million
  -- Comprehensive income increased 11.8% to a record $6.03 million
  -- Net income increased 11.08% to a record $3.98 million
  -- Net income available to common shareholders (after a one-time,
     non-cash deemed preferred stock dividend of $854,300) was
     $3.13 million
  -- Diluted earnings per share were $0.21
  -- Basic earnings per share excluding the one-time, non-cash
     deemed preferred stock dividend were $0.32

``This was a record year for our Company driven by increased demand from both new and existing customers. We are extremely pleased with the significant increase in gross profit, which was the result of a shift of our production focus from low margin graphite electrodes to fine grain graphite and high purity graphite which generate higher gross margins,'' commented Mr. Donghai Yu, CEO of China Carbon Graphite Group.

``The Company was required to close its factory for almost two months because of a government mandated shutdown due to the Beijing Olympics during August 2008. The production of all of the Company's products ceased during this period. The process to produce finished goods takes up to six months. Therefore, the shutdown affected sales in the fourth quarter of 2008 as well as the first quarter of 2009.

``We expect 2009 to be a very strong year for China Carbon. We plan to pursue acquisitions of China based carbon companies with similar revenues that will allow us to enter the highly profitable nuclear graphite market. At this time China has over 25 nuclear reactors under construction and each reactor requires approximately 10 metric tons of nuclear graphite at an average cost of US$150 million. China Carbon has the ability to become the world's low cost producer of nuclear graphite. The acquisition plan will increase earnings and strengthen our leadership in the specialty graphite market.

``Additionally, we expect to benefit from China's Stimulus Plan by receiving bank loans at a low interest rate. We will use the bank loans to expand the production capacity at the current plant in Inner Mongolia,'' concluded Yu.

Full Year 2008 Financial Results

Revenue for fiscal year 2008 totaled $27.3 million compared to sales of $25.36 million for fiscal year 2007. This increase resulted from our marketing efforts both to develop new customers and make follow-on sales to existing customers, although our sales decreased in the fourth quarter reflecting the closure of Company's plant facilities for almost two months for the Olympics in August 2008 as part of the Chinese government's program to reduce air pollution during that period. This shutdown reduced our production in the third quarter and therefore affected sales in the fourth quarter 2008 because it takes up to six months to produce graphite products.

Gross margin increased from 19.36% in 2007 to 24.53% in 2008. The improvement in gross profit margin was due to increased sales of higher margin products - fine grain graphite and high purity graphite.

Selling expenses increased from $124,241 in 2007 to $504,884 in 2008. The increase was due to the effort to market our high margin products - fine grain graphite and high purity graphite.

General and administrative expense increased from $1.12 million in 2007 to $1.95 million in 2008. This increase was largely the result of an increase in our bad debt expense of approximately $200,000 and an increase in our allowance for bad debts of $860,000. One customer accounted for approximately $450,000 of these charges.

Net income for 2008 was $3.98 million compared to $3.59 million for 2007.

As a result of the automatic conversion of our 3% convertible notes into shares of series A preferred stock and warrants, we incurred a preferred stock deemed dividend of $854,300, representing the intrinsic value of the beneficial conversion feature of the series A preferred stock resulting from the warrant issuance. The deemed preferred stock dividend is a one time, non-cash charge which did not affect our operations or cash flow in 2008.

About China Carbon Graphite Group, Inc.

China Carbon Graphite Group, through its affiliate, Xingyong Carbon Co., Ltd., manufactures carbon and graphite based products in China. The company is the largest wholesale supplier of fine grain and high purity graphite in China and one of the nation's top overall producers of carbon and graphite products. Fine grain graphite is widely used in smelting for colored metals and rare-earth metal smelting as well as the manufacture of molds. High purity graphite is used in metallurgy, mechanical industry, aviation, electronic, atomic energy, chemical industry, food industry and a variety of other fields. In September 2007, the company was approved and designated by Ministry of Science & Technology as a ``National Hi-tech Enterprise.'' Of the 400 plus carbon graphite producers in China, China Carbon is the only non-state-owned company to receive this honor. For more information, visit http://www.chinacarboninc.com.

Safe Harbor Statement

This release contains certain ``forward-looking statements'' relating to the business of the Company and its subsidiary companies. These forward-looking statements are often identified by the use of forward-looking terminology such as ``believes,'' ``expects'' or similar expressions. Such forward-looking statements involve known and unknown risks and uncertainties that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release.

         Capital Group Communications
         Investor Relations
         Mark Bernhard
         415-332-7202
         mark@capitalgc.com
         
         For the Company:
         China Carbon Graphite Group, Inc.
         Ting Chen, CFO
         ir@chinacarboninc.com

Q3 2008 Highlights Compared to Q3 2007

   -- Net revenues increased 2.11% to $7.51 million
   -- Gross profits increased 53.29% to $2.12 million
   -- Gross margin improved to 28.30% from 18.85%
   -- Net income increased 48.52% to $1.53 million, or $0.08
      per fully diluted share
   -- Launched new corporate website: www.chinacarbongroup.com
   -- To present at Roth Capital China Comes to Vegas Conference
      in November

"We are extremely pleased with the significant increase in our bottom line performance during the third quarter, which was the result of a shift of our production focus from low margin graphite electrodes to fine grain graphite and high purity graphite which generate higher gross margins," said Mr. Dengyong Jin, CEO of China Carbon Graphite Group. "We continue to see a strong demand for our products. We believe we are well positioned to grow our existing operations and explore complementary acquisitions in China."

About China Carbon Graphite Group, Inc.

China Carbon Graphite Group, through its affiliate, Xingyong Carbon Co., Ltd., manufactures carbon and graphite based products in China. The company is the largest wholesale supplier of fine grain and high purity graphite in China and one of the nation's top overall producers of carbon and graphite products. Fine grain graphite is widely used in smelting for colored metals and rare-earth metal smelting as well as the manufacture of molds. High purity graphite is used in metallurgy, mechanical industry, aviation, electronic, atomic energy, chemical industry, food industry and a variety of other fields. In September 2007, the company was approved and designated by Ministry of Science & Technology as a "National Hi-tech Enterprise." Of the 400 plus carbon graphite producers in China, China Carbon is the only non-state-owned company to receive this honor. For more information, visit http://www.chinacarbongroup.com.

Safe Harbor Statement

This release contains certain "forward-looking statements" relating to the business of the Company and its subsidiary companies. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions. Such forward-looking statements involve known and unknown risks and uncertainties that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. 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.

CONTACT: China Carbon Graphite Group, Inc.
         Ting Chen, VP of Finance and IR
         +86-474-7209723
         ting@chinacarbongroup.com

Dedicated to the US listed Chinese companies, the Roth Capital China Comes to Vegas Conference will offer investors a look at opportunities in emerging markets that might offer growth despite economic downturns in more mature markets. The conference is an information-rich, time saving program featuring presentations from CEOs and CFOs of more than 70 companies with an average market cap of $300 million. One of the highlights of the conference is a keynote speech, on November 19, 2008, by global investing guru Jim Rogers, author of the best-selling book "A Bull in China: Investing Profitably in the World's Greatest Market." Details of China Carbon's presentation at the conference are as follows:

 Date:         Friday, November 21, 2008
 Time:         2:00 p.m. Pacific Time
 Presenters:   Donghai Yu, Chief Financial Officer
               Ting Chen, VP of Finance and IR
 Venue:        Palmer 2 - Track 2
               The Wynn, Las Vegas

During the conference, the Company will be available to meet with analysts and portfolio managers. Participation in the Roth Capital China Comes to Vegas Conference is by invitation only. Further information can be found at http://www.roth.com.

About China Carbon Graphite Group, Inc.

China Carbon Graphite Group, through its affiliate, Xingyong Carbon Co., Ltd., manufactures carbon- and graphite-based products in China. The company is the largest wholesale supplier of fine grain and high purity graphite in China and one of the nation's top overall producers of carbon and graphite products. Fine grain graphite is widely used in smelting for colored metals and rare-earth metal smelting as well as the manufacture of molds. High purity graphite is used in metallurgy, mechanical industry, aviation, electronic, atomic energy, chemical industry, food industry and a variety of other fields. In September 2007, the company was approved and designated by Ministry of Science & Technology as a "National Hi-tech Enterprise." Of the 400 plus carbon graphite producers in China, China Carbon is the only non-state-owned company to receive this honor. For more information, visit http://www.chinacarbongroup.com.

CONTACT:  China Carbon Graphite Group, Inc.
          Ting Chen, VP of Finance and IR
          +86-474-7209723
          ting@chinacarbongroup.com

Mr. Dengyong Jin, CEO of China Carbon Graphite Group, said, "It's a great opportunity to exhibit at this year's The Money Show and share our company's latest developments and news with our existing shareholders and prospective investors as we grow our company. This year has been full of accomplishments for China Carbon and I am very excited about the upcoming exposure opportunity for the company."

About The Money Show

For 30 years, The Money Show has spearheaded the field of investment trade shows with its unique concept: inviting highly qualified individual investors, expert speakers, select exhibitors, and top investment media partners to gather together in a live forum where their interaction creates a dynamic marketplace. The pioneer of investment trade shows has attracted tens of thousands over the years and remains #1 in the nation today.

About China Carbon Graphite Group, Inc.

China Carbon Graphite Group, through its affiliate, Xingyong Carbon Co., Ltd., manufactures carbon- and graphite-based products in China. The company is the largest wholesale supplier of fine grain and high purity graphite in China and one of the nation's top overall producers of carbon and graphite products. Fine grain graphite is widely used in smelting for colored metals and rare-earth metal smelting as well as the manufacture of molds. High purity graphite is used in metallurgy, mechanical industry, aviation, electronic, atomic energy, chemical industry, food industry and a variety of other fields. In September 2007, the company was approved and designated by Ministry of Science & Technology as a "National Hi-tech Enterprise." Of the 400 plus carbon graphite producers in China, China Carbon is the only non-state-owned company to receive this honor. For more information, visit http://www.chinacarbongroup.com.

Safe Harbor Statement

This release contains certain "forward-looking statements" relating to the business of the Company and its subsidiary companies. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions. Such forward-looking statements involve known and unknown risks and uncertainties that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. 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.

CONTACT:  China Carbon Graphite Group, Inc.
          Ting Chen, VP of Finance and IR
          +86-474-7209723
          ting@chinacarbongroup.com

The website features an overview of the Company, including its corporate history and products. Particular attention was given to enhancing the "Investor Relations" section, which now provides company-specific data, including the Company's live and historical stock price information, press releases, SEC filings, and investor presentations.

"Through the redesign of our website, we offer our investors and our website users a more convenient platform to obtain timely information on the Company. The effort also represents China Carbon's commitment to continuously improving communication with a wide-ranging business audience while meeting the specific information needs of the investment community," commented Mr. Dengyong Jin, CEO of China Carbon Graphite Group.

About China Carbon Graphite Group, Inc.

China Carbon Graphite Group, through its affiliate, Xingyong Carbon Co., Ltd., manufactures carbon and graphite based products in China. The company is the largest wholesale supplier of fine grain and high purity graphite in China and one of the nation's top overall producers of carbon and graphite products. Fine grain graphite is widely used in smelting for colored metals and rare-earth metal smelting as well as the manufacture of molds. High purity graphite is used in metallurgy, mechanical industry, aviation, electronic, atomic energy, chemical industry, food industry and a variety of other fields. In September 2007, the company was approved and designated by Ministry of Science & Technology as a "National Hi-tech Enterprise." Of the 400 plus carbon graphite producers in China, China Carbon is the only non-state-owned company to receive this honor. For more information, visit http://www.chinacarbongroup.com.

Safe Harbor Statement

This release contains certain "forward-looking statements" relating to the business of the Company and its subsidiary companies. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions. Such forward-looking statements involve known and unknown risks and uncertainties that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. 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.

CONTACT:  China Carbon Graphite Group, Inc.
          Ting Chen, VP of Finance and IR
          +86-474-7209723
          ting@chinacarbongroup.com

NEW YORK, May 20, 2008 (PRIME NEWSWIRE) -- In a release issued on May 16, 2008, some financial information was inaccurate. The full, corrected release follows:

China Carbon Graphite Group, Inc. (OTCBB:CHGI), the largest wholesale supplier of fine grain and high purity graphite in China and one of the nation's top overall producers of carbon and graphite products, announced its financial results for the first quarter ended March 31, 2008.

 Q1 2008 Highlights Compared to Q1 2007

   -- Net revenues increased 6.61% to $5.73 million
   -- Gross profit margin improved to 23.77% from 16.25%
   -- Comprehensive income increased 96.7% to $2.50 million
   -- Net income increased 48.53% to $1.24 million
   -- Net income available to common shareholders (after a one-time,
      non-cash deemed preferred stock dividend of $854,300) was
      $388,881
   -- Basic earnings per share excluding the one-time, non-cash deemed
      preferred stock dividend were $0.09
   -- Diluted earnings per share were $0.02

 Q2 2008 Guidance

   -- Net revenues are expected to be in the range of $6.90 million to
      $7.25 million
   -- Net income is expected to be in the range of $1.50 million to
      $1.58 million

"Historically, Q1 is our softest quarter due to the long Chinese New Year holiday. We expect to achieve continued growth in subsequent quarters. We plan to issue full-year guidance for 2008 before next quarterly report," commented Mr. Dengyong Jin, CEO of China Carbon Graphite Group.

About China Carbon Graphite Group, Inc.

China Carbon Graphite Group, through its affiliate, Xingyong Carbon Co., Ltd., manufactures carbon and graphite based products in China. The company is the largest wholesale supplier of fine grain and high purity graphite in China and one of the nation's top overall producers of carbon and graphite products. Fine grain graphite is widely used in smelting for colored metals and rare-earth metal smelting as well as the manufacture of molds. High purity graphite is used in metallurgy, mechanical industry, aviation, electronic, atomic energy, chemical industry, food industry and a variety of other fields. In September 2007, the company was approved and designated by Ministry of Science & Technology as a "National Hi-tech Enterprise". Of the 400 plus carbon graphite producers in China, China Carbon is the only non-state-owned company to receive this honor.

Safe Harbor Statement

This release contains certain "forward-looking statements" relating to the business of the Company and its subsidiary companies. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions. Such forward-looking statements involve known and unknown risks and uncertainties that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. 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.

CONTACT: China Carbon Graphite Group, Inc.
         Ting Chen, VP of Finance and IR
         +1-212-605-0175
         tchinacarbon@gmail.com