The conference call will take place at 10:00 a.m. ET on Tuesday, April 6, 2010. Interested participants should call 1-877-941-4774 when calling within the United States or 1-480-629-9760 when calling internationally.

A playback will be available through April 13, 2010. To listen, please call 1-800-406-7325 within the United States or 1-303-590-3030 when calling internationally. Utilize the pass code 4281232 for the replay.

This call is being webcast by ViaVid Broadcasting and can be accessed by clicking on this linkhttp://www.viavid.net , where the webcast can be accessed through April 13, 2010.

About Sino Clean Energy

Sino Clean Energy is a U.S. publicly traded company and a China-based producer and distributor of coal-water mixture ("CWM"). Based in Shaanxi Province, Sino Clean Energy is the largest CWM producer inNorthwestern China with 850,000 metric tons of total annual capacity. For more information about Sino Clean Energy, please visit http://www.sinocei.net/ .

Safe Harbor Statement

This press release contains certain "forward-looking statements," as defined in the United States Private Securities Litigation Reform Act of 1995, that involve a number of risks and uncertainties. There can be no assurance that such statements will prove to be accurate and the actual results and future events could differ materially from management's current expectations. Such factors include, but are not limited to uncertainties in product demand, the impact of competitive products and pricing, our ability to obtain regulatory approvals, changing economic conditions around the world, release and sales of new products and other factors detailed from time to time in the Company's filings with the United States Securities and Exchange Commission and other regulatory authorities. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

    For more information, please contact:

    Company:
     Ming Lee
     Assistant to the Chairman
     Tel:   +86-29-8406-7376 (China)
     Email: marin_lm@163.com

    Investor Relations:

    HC International, Inc.
     Ted Haberfield, Executive VP
     Tel:   +1-760-755-2716
     Email: thaberfield@hcinternational.net
     Web:   http://www.hcinternational.net

BEIJING, Nov. 17 /PRNewswire-Asia-FirstCall/ -- Sino Clean Energy, Inc. (OTC Bulletin Board: SCLX; "Sino Clean Energy," the "Company"), which produces and distributes coal-water mixture in the People's Republic of China ("PRC"), today announced the Company's financial results for the third quarter 2009.

    SUMMARY FINANCIALS

    Third Quarter 2009 Results
                                  Q3 2009*       Q3 2008          CHANGE
    Sales                      $10.8 million  $3.4 million        +214.6 %
    Gross Profit                $3.9 million  $1.1 million        +251.4 %
    Adjusted Net Income         $2.8 million  $1.2 million        +132.8 %
    GAAP Net Income (Loss)    ($30.9 million) $1.1 million      -2,800.6 %
    Adjusted EPS                   $0.03          $0.01           +200.0 %
    GAAP EPS (Diluted)            ($0.31)         $0.01         -3,200.0 %

*Q3 2009 included a $7.0 million non-cash charge related to the changes in the value of warrants and $24.8 million from the beneficial conversion feature of the notes issued in the July 2009 financing.

Nine Months 2009 Results 2009* 2008 CHANGE Sales $26.7 million $9.2 million +191.2 % Gross Profit $9.0 million $2.9 million +206.1 % Adjusted Net Income $6.3 million $2.5 million +149.5 % GAAP Net Income (Loss) ($28.8 million) $2.5 million -1,261.5 % Adjusted EPS $0.07 $0.03 +133.3 % GAAP EPS (Diluted) ($0.30) $0.03 -1,100.0 %

* The first nine months of 2009 included a $8.2 million non-cash charge related to the changes in the value of warrants and $24.8 million from the beneficial conversion feature of the notes issued in the July 2009 financing.

Third Quarter 2009 Financial Results

Sales -- Sales for the third quarter of 2009 were $10.8 million compared to $3.4 million in the third quarter of 2008, an increase of 214.6%. The increase was mainly due to the expansion of production capacity commencing in early 2009 and growth in the Company's coal water mixture production compared the same period in 2008. The average selling prices of CWM were higher than the same period of 2008 by approximately 16.9%. Sales volume for CWM production was 94,400 tons, compared to 35,200 tons in the same period in 2008.

Cost of Goods Sold -- Cost of goods sold for the third quarter of 2009 was $6.8 million compared to $2.3 million in 2008, an increase of 196.6%. The increase was due to the rise in production and sales activities. Cost of sales as a percentage of sales was approximately 63.3% for the third quarter of 2009 and 67.2% for same period in 2008. The decrease was due to higher selling prices of CWM, compared to the same period in 2008.

Gross Profit and Gross Margin -- Gross profit was $3.9 million for the third quarter of 2009 compared to $1.1 million for the same period in 2008, an increase of 251.4% and represented gross margins of approximately 36.7% and 32.8%, respectively. The 3.9% variance in gross margins was mainly attributable to higher selling prices of CWM.

Selling, General, and Administrative Expenses -- Selling, general, and administrative expenses for the third quarter of 2009 were approximately $0.9 million compared to $0.2 million for the same period in 2008, an increase of 327%. Total selling, general, and administrative expenses as a percentage of sales for the third quarter of 2009 and 2008 were 8.3% and 6.1%, respectively, with the increase being attributed to transportation costs and financing expenses. Operating income for the third quarter of 2009 and 2008 was $3.1 million and $0.9 million, respectively, representing operating margins of 28.4% for the third quarter of 2009 compared to the third quarter 2008 operating margin of 26.7%.

Net Income (Loss) -- GAAP net loss for the third quarter was $30.9 million, compared to $1.1 million reported in the same period in the prior year. Earnings per diluted share were a negative $0.31 for the third quarter in 2009 compared to $0.01 for the third quarter in 2008, which was based on 100 million shares outstanding. The Company incurred taxes of $0.46 million and $71 in 2009 and 2008, respectively.

Adjusted Net Income -- During the third quarter of 2009 the Company incurred a non-cash charge of $7.0 million for the change in the value of warrants and $24.8 million from the conversion feature of the notes issued in the July 2009 financing. Adjusting for non-cash charges in each respective period, net income for the third quarter of 2009 and 2008 was $2.8 million and $1.2 million, with $0.03 and $0.01 in earnings per diluted share.

"We are pleased with our results for the third quarter which was propelled by a rise in sales of our coal water mixture," stated Baowen Ren, Chairman of Sino Clean Energy. "Our business continues to be driven by a number of factors including the government's support in the development and utilization of clean energy, as well as government mandate for improved utilization of coal. We are optimistic that demand from existing and new industrial, government and residential users for CWM, coupled with continuing government support, will further drive growth during 2010."

2009 Nine Months Financial Results

For the first nine months of 2009 sales increased 191.2% to $26.7 million from $9.2 million in the same period of the prior year. Cost of sales increased 184.1% to $17.7 million yielding gross profit of $9.0 million, an increase of 206.1% from $2.9 million reported in the year ago period. Gross margins were 33.6% compared to 32.0% during the first nine months of 2009 and 2008, respectively. Selling, general, and administrative expenses increased 213.3% to $1.9 million during the first nine months of 2009 from $0.6 million during the year ago period. Income from operations increased 204.2% to $7.1 million from $2.3 million with operating margins of 26.6% compared to 25.4% in the year ago period. GAAP Net loss for the first nine months of 2009 was $28.8 million for the nine months ended September 30, 2009, a decrease from $2.5 million with corresponding basic earnings per share of negative $0.30 compared to $0.03 based on 96.1 million and 87.2 million shares, respectively. During the first nine months of 2009 the Company incurred a non-cash charge of $8.2 million for the change in the value of warrants and a $24.8 million non-cash charge related to the beneficial conversion feature of notes issued in the July 2009 financing. Adjusting for non-cash charges during each respective period, net income was $6.3 million and $2.5 million, yielding $0.07 and $0.03 in earnings per basic share.

"Based on the recent expansion in total production capacity to 650,000 metric tons and customer orders on hand, we are projecting sales volume of coal water mixture to increase over the next year," continued Baowen Ren. "We recently commenced operations at our new CWM production facility in Shenyang with annual output capacity of 300,000 metric tons which expanded our total annual production capacity to 650,000 metric tons. We currently serve 35 customers under CWM supply agreements totaling approximately 559,000 metric tons per year and we are negotiating with 13 additional customers for supply agreements which could potentially represent up to 333,000 metric tons of CWM. With increased production capacity, an expanding customer base, accelerating demand of clean energy supported by the government's effort to reduce pollution emission and increase energy yields, we are confident that we are well positioned to capitalize on this growth opportunity in China."

Liquidity and Capital Resources

Cash and cash equivalents were $14.0 million on September 30, 2009, which includes net proceeds of $9.3 million from the July 2009 financing, compared to $3.9 million on December 31, 2008. The Company had working capital of $19.9 million on September 30, 2009 and a current ratio of 12-to-1. Inventories were $0.5 million and the accounts receivable balance was $2.5 million on September 30, 2009, compared to $45 thousand and $0.9 million on December 31, 2008, respectively. The annualized days sales outstanding for the third quarter 2009 were 25 days. Net cash provided by operations was $5.1 million for the first nine months of 2009, compared to $34 thousand used by operations in the same period of 2008. The net cash inflow increased during the first nine months of 2009 was primarily due to a large increase in turnover. The Company had an effective tax rate of 16.76% and 0.98% for the third quarters of 2009 and 2008 respectively, excluding the $8.2 million non-cash charge related to the changes in fair value of warrants and $24.8 million non-cash charge related to the beneficial conversion feature of notes issued in the July 2009 financing.

Financial Outlook for 2009 and 2010

Management provided 2009 guidance and expects to report calendar 2009 sales of at least $40 million and adjusted net income of at least $10 million, representing an increase of 189.9% and 233.3% compared to 2008 sales and net income, respectively. Management provided 2010 guidance and expects to report calendar 2010 sales of at least $70 million and net income of $15 million. Guidance includes the expansion of total production capacity to 900,000 metric tons during 2010.

Government Support in China

China is the world's largest producer and consumer of coal and is also one of the world's leading emitters of greenhouse gas (GHG). It is reported that some 70 percent of China's energy comes from coal, the greatest part of which is burned in outdated power plants that are primary contributors to GHG. To address environmental concerns from the use of coal, the Chinese central government in August 1995 formulated the "9th Five-Year Plan for Clean Coal Technology in China and a Development Program to 2010," which emphasizes the need to strengthen research and development of clean coal technologies and to promote commercialization of proven clean coal technologies including CWM. The China State Environmental Protection Agency (SEPA) states that over $190 billion will be spent by industrial companies for environmental cleanup as part of the 11th Five Year Plan (2006-2010).

About CWM

Coal Water Mixture is a clean coal alternative and is the backbone of Sino Clean Energy's business. CWM is comprised of approximately 71% coal, 29% water, and less than 1% of chemical catalyst. Compared to coal, on average, CWM increases the burning efficiency, reduces air pollution, reduces coal consumption, and reduces cost in coal material for end users.

About Sino Clean Energy

Sino Clean Energy is a U.S. publicly traded company and a China-based producer and distributor of coal-water mixture ("CWM"). Based in Shaanxi Province, Sino Clean Energy is the largest CWM producer in Northwestern China with 650,000 metric tons of total annual capacity. For more information about Sino Clean Energy, please visit http://www.sinocei.net/ .

About Non-GAAP Financial Measures

This press release contains non-GAAP financial measures for the change in the fair value of the Company's warrants under EITF 07-5. The Company believes that these non-GAAP financial measures are useful to investors because they exclude non-cash charges that our management excludes when it internally evaluates the performance of the Company's business and makes operating decisions, including internal budgeting, and performance measurement, because these measures provide a consistent method of comparison to historical periods. Moreover, management believes these non-GAAP measures reflect the essential operating activities of Sino Clean Energy. Accordingly, management excludes the change in the fair value of the Company's warrants under EITF 07-5 when making operational decisions. The Company believes that providing the non-GAAP measures that management uses to its investors is useful to investors for a number of reasons. The non-GAAP measures provide a consistent basis for investors to understand the Company's financial performance in comparison to historical periods. In addition, it allows investors to evaluate the Company's performance using the same methodology and information as that used by our management. Non-GAAP measures are subject to inherent limitations because they do not include all of the expenses included under GAAP and because they involve the exercise of judgment of which charges are excluded from the non- GAAP financial measure. However, our management compensates for these limitations by providing the relevant disclosure of the items excluded.

The following table provides the non-GAAP financial measure and the related GAAP measure and provides a reconciliation of the non-GAAP measure to the equivalent GAAP measure.

Adjusted Net Income Three months Nine months ended ended Sept. 30, 2009 Sept. 30, 2009 GAAP Net Income $(30,915,068) (28,807,763) GAAP Basic Earnings Per Share (0.31) (0.30) Addition (deduction): Change in fair value of warrants 7,035,248 8,236,238 Cost of private placement 24,794,842 24,794,842 Others 1,851,345 2,072,545 Non GAAP Net Income 2,766,367 6,295,862 Non GAAP Basic Earnings Per Share 0.03 0.07 Shares used in computing net income per basic share 100,419,101 96,091,295

Safe Harbor Statement

This press release contains certain "forward-looking statements," as defined in the United States Private Securities Litigation Reform Act of 1995, that involve a number of risks and uncertainties. There can be no assurance that such statements will prove to be accurate and the actual results and future events could differ materially from management's current expectations. Such factors include, but are not limited to uncertainties in product demand, the impact of competitive products and pricing, our ability to obtain regulatory approvals, changing economic conditions around the world, release and sales of new products and other factors detailed from time to time in the Company's filings with the United States Securities and Exchange Commission and other regulatory authorities. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

For further information please contact: Company: Ben Z. Fang Advisor to the Chairman and CEO Tel: +1-212-521-3884 Fax: +1-212-521-3888 Email: bfang@axiomcapital.com Ming Lee Assistant to the Chairman Tel: +86-29-8406-7376 (China) Email: marin_lm@163.com Investor Relations: HC International, Inc. Ted Haberfield, Executive VP Tel: +1-760-755-2716 Email: thaberfield@hcinternational.net Web: http://www.hcinternation... FINANCIAL TABLES FOLLOW Sino Clean Energy Inc. and Subsidiaries Condensed Consolidated Balance Sheets September 30, December 31, 2009 2008 (Unaudited) ASSETS Current assets Cash and cash equivalents $13,970,487 $3,914,306 Accounts receivable, net 2,462,248 899,629 Inventories 480,173 45,068 Prepaid inventories 4,164,559 1,996,584 Prepaid expenses 59,767 86,958 Refundable advance -- 731,861 Government grant receivable -- 146,314 Other receivables 24,798 16,986 Loans receivable 543,048 -- Land use right - current portion 38,735 38,703 Total current assets 21,743,815 7,876,409 Property, plant and equipment, net of accumulated depreciation and amortization of $1,561,097 and $491,247, respectively 8,362,457 9,394,416 Land use right - non current portion 1,776,705 1,804,277 Deposits 4,728,203 994,395 Goodwill 762,018 762,018 Deferred debt issuance costs, net of accumulated amortization of $114,233 at December 31, 2008 -- 274,278 Total assets $37,373,198 $21,105,793 LIABILITIES AND SHAREHOLDERS' EQUITY (DEFICIENCY) Current liabilities Convertible notes, current position, net $-- $383,490 Accounts payable and accrued expenses 945,747 1,004,999 Income and other taxes payable 789,824 305,903 Due to directors 70,229 465,049 Total current liabilities 1,805,800 2,159,441 Convertible notes, less current position, net (includes $151,233, net amount of related party convertible notes) 2,921,819 -- Fair value of derivative liabilities 44,299,127 -- Total liabilities 49,026,746 2,159,441 Commitments and Contingencies Shareholders' Equity (Deficiency) Preferred stock, $0.001 par value, 50,000,000 shares authorized, none issued and outstanding -- -- Common stock, $0.001 par value, 300,000,000 shares authorized, 101,261,786 and 92,181,750 issued and outstanding as of September 30, 2009 and December 31, 2008 respectively 101,262 92,182 Additional paid-in capital 14,137,202 12,696,549 Retained earnings (accumulated deficit) (28,375,818) 3,686,087 Statutory reserves 348,309 348,309 Accumulated other comprehensive income 2,135,497 2,123,225 Total shareholders' equity (deficiency) (11,653,548) 18,946,352 Total liabilities and shareholders' equity (deficiency) $37,373,198 $21,105,793 Sino Clean Energy, Inc. and Subsidiaries Condensed Consolidated Statements of Operations and Other Comprehensive Income (Loss) (Unaudited) Three months ended Nine months ended September 30, September 30, 2009 2008 2009 2008 Revenue $10,757,826 $3,419,941 $26,659,312 $9,156,293 Cost of goods sold (6,812,469) (2,297,227) (17,695,505) (6,227,606) Gross profit 3,945,357 1,122,714 8,963,807 2,928,687 Selling, general and admini- stra tive expenses 888,249 208,021 1,875,380 598,590 Income from operations 3,057,108 914,693 7,088,427 2,330,097 Other income (expense) Interest expense (3,149,499) -- (4,231,344) -- Expense related to escrow shares (1,054,548) -- (1,294,881) -- Commission income 131,970 80,072 323,261 224,947 Rental income, net -- 230 79,843 Interest income 11,708 8,026 22,979 19,537 Extinguishment of derivative liabilities 2,381,333 -- 3,370,593 -- Change in fair value of derivative liabilities (7,035,248) -- (8,236,238) -- Cost of private placement (24,794,842) -- (24,794,842) -- Sundry income -- 78 -- 26,921 Gain on disposal of property -- 95 -- 33,095 Government grant -- 141,614 -- 141,614 Total other income (expense) (33,509,126) 230,115 (34,840,472) 525,957 Income (loss) before income taxes and non- controlling interest (30,452,018) 1,144,808 (27,752,045) 2,856,054 Provision for income taxes 463,050 71 1,055,718 24,779 Net income (loss) (30,915,068) 1,144,737 (28,807,763) 2,831,275 Net Income attributable to non-controlling interest -- -- -- (351,149) Net Income (loss) attributable to Sino Clean Energy, Inc. (30,915,068) 1,144,737 (28,807,763) 2,480,126 Other comprehensive income Foreign currency translation adjustment 3,578 124,319 12,932 934,996 Comprehensive income (loss) $(30,911,490) $1,269,056 $(28,794,831) $3,415,122 Weight average number of shares - Basic 100,419,101 92,181,750 96,091,295 87,181,750 - Diluted 100,419,101 92,734,390 96,091,295 87,365,963 (Loss) income per common share - Basic $(0.31) $0.01 $(0.30) $0.03 - Diluted $(0.31) $0.01 $(0.30) $0.03 Sino Clean Energy, Inc. and Subsidiaries Condensed Consolidated Statements of Cash Flows (Unaudited) Nine months ended September 30, 2009 2008 Cash flows from operating activities: Net income (loss) attributable to Sino Clean Energy, Inc. $(28,807,763) $2,480,126 Adjustments to reconcile net income to cash provided by operating activities: Gain attributable to noncontrolling interest -- 351,149 Depreciation and amortization 1,069,850 175,399 Amortization of land use right 29,064 28,031 Gain on disposal of property -- (33,095) Amortization of deferred debt issuance costs 274,278 8,399 Amortization of discount on convertible notes 3,873,979 35,127 Expense related to escrow shares 1,294,881 -- Fair value of shares issued for services 454,935 -- Cost of private placement 24,794,842 -- Change in fair value of derivative liabilities 8,236,238 -- Extinguishment of derivative liability (3,370,593) -- Change in operating assets and liabilities Accounts receivable (1,563,019) (4,923,476) Inventories (435,105) (240,670) Prepaid inventories (2,167,975) 1,605,350 Prepaid expenses 27,191 127,689 Refundable advance 731,861 -- Government grant receivable 146,314 411,000 Other receivables (7,812) (14,227) Accounts payable and accrued expenses 37,982 (196,665) Income and other taxes payables 483,921 10,143 Assets on discontinued operation Other receivables -- 141,795 Net cash provided by (used in) operating activities 5,103,069 (33,925) Cash flows from investing activities: Deposits (3,733,408) 188,332 Loans receivable (540,365) -- Purchase of property, plant and equipment (29,767) (2,747,052) Proceeds from disposal of property -- 1,025,437 Net cash provided by (used in) investing activities (4,303,540) (1,533,283) Cash flows from financing activities: Repayment of amount due to directors (394,820) (7,427) Proceeds from issuance of convertible debentures 11,592,000 1,148,491 Cost of private placement paid in cash (1,543,152) -- Redemption of convertible debenture (400,000) -- Obligations under capital leases -- (27,318) Net cash provided by financing activities 9,254,028 1,113,746

The conference call will take place at 8:30 a.m. EST on Tuesday, November 17, 2009. Interested participants should call 1-877-941-1430 when calling within the United States or 1-480-629-9667 when calling internationally.

A playback will be available through November 24, 2009. To listen, please call 1-800-406-7325 within the United States or 1-303-590-3030 when calling internationally. Utilize the pass code 4182673 for the replay.

This conference call will be broadcast live over the Internet and can be accessed by all interested parties by clicking on this link

    For further information please contact:

    Company:

     Ben Z. Fang
     Advisor to the Chairman and CEO
     Tel:   +1-212-521-3884
     Fax:   +1-212-521-3888
     Email: bfang@axiomcapital.com

     Ming Lee
     Assistant to the Chairman
     Tel:   +86-29-8406-7376 (China)
     Email: marin_lm@163.com

    Investor Relations:

     Ted Haberfield, EVP
     HC International, Inc.
     Tel:   +1-760-755-2716 (U.S.)
     Email: thaberfield@hcinternational.net

The conference call will take place at 8:30 a.m. EST on Thursday, November 12, 2009. Interested participants should call 1-877-941-1430 when calling within the United States or 1-480-629-9667 when calling internationally.

A playback will be available through November 19, 2009. To listen, please call 1-800-406-7325 within the United States or 1-303-590-3030 when calling internationally. Utilize the pass code 4182673 for the replay.

This conference call will be broadcast live over the Internet and can be accessed by all interested parties by clicking on this link

    For further information please contact:

    Company:
     Ben Z. Fang
     Advisor to the Chairman and CEO
     Tel:   +1-212-521-3884
     Fax:   +1-212-521-3888
     Email: bfang@axiomcapital.com

     Ming Lee
     Assistant to the Chairman
     Tel:   +86-29-8406-7376 (China)
     Email: marin_lm@163.com

    Investor Relations:
     Ted Haberfield, EVP
     HC International, Inc.
     Tel:   +1-760-755-2716 (U.S.)
     Email: thaberfield@hcinternational.net

Second Quarter 2009 Highlights

--  Total revenue increased 151% period-over-period to $8.1 million
--  Gross profit increased 161% period-over-period to $2.6 million
--  Gross margin increased period-over-period from 30.9% to 32.2%
--  Income from operations increased 181% period-over-period to
    $2.19 million
    

Second Quarter 2009 Results

Total revenue for the second quarter of 2009 was $8,161,903, an increase of 151% from $3,251,224 for the same period in 2008. The number of our customers increased from 5 for the three months ended June 30, 2008, to 18 for the same period in 2009, contributing to the revenue increase period-over-period.

"Our sales and number of customers in the second quarter of 2009 as compared to the same period of 2008 are indicative of the growing market acceptance of coal-water mixture," commented Mr. Baowen Ren, Chairman and CEO of Sino Clean Energy.

Cost of sales increased 146% for the second quarter of 2009 to $5,534,929 from $2,245,700 a year ago, in line with our increase in sales. Gross profit increased 161% period-over-period, from $1,005,524 to $2,626,974, with gross margin rising to 32.2% for the second quarter of 2009 from 30.9% for the same period of 2008.

Income from operations for the second quarter of 2009 was $2,192,301, compared to $780,858 for the same period in 2008, an increase of 181%.

Net income for the second quarter of 2009 was $541,829, or $0.01 per diluted common share, as compared to $811,890, or $0.01 per diluted common share, for the same period of 2008, a decrease of 33%. GAAP results for the second quarter of 2009 include $120,166 of non-cash expense in the treatment as stock-based compensation of common shares placed in escrow by Mr. Ren in connection with our private financing in September 2008, as well as a change of $1,779,968 in the fair value of the warrants and the conversion feature of the debt instruments issued in the September 2008 financing, which are offset by non-cash income from extinguishment of derivative liabilities of $989,260. Excluding these items, net income for the second quarter of 2009 would have been $1,452,703 (See "About Non-GAAP Financial Measures" toward the end of this release).

Financial Condition

As of June 30, 2009, the Company had $9,351,117 in cash and cash equivalents, total liabilities of $7,632,787, working capital of $5,310,422, and total shareholders' equity was $17,616,347.

Recent Events

In July 2009, the Company raised approximately $11.6 million in gross proceeds from several investors in a private financing, and redeemed or converted all of the then outstanding convertible debentures that it issued in September 2008.

In August 2009, the Company added another independent director to its board of directors, Mr. Yong Li, who brings with him his financial experience and knowhow.

Business Outlook

"We anticipate 2009 to be a positive year for us," commented Mr. Ren. "Successfully raising $11.6 million in July, we believe that we have sufficient cash flow to satisfy the increasing demands for CWM from increasing numbers of customers."

About Non-GAAP Financial Measures

This press release contains non-GAAP financial measures for earnings that exclude the stock-based compensation treatment of the common shares placed in escrow by Mr. Ren in connection with the September 2008 private financing as well as the change in fair value of the warrants and the conversion feature of the convertible debentures issued in that financing. The Company believes that these non-GAAP financial measures are useful to investors because they exclude non-cash charges that our management excludes when it internally evaluates the performance of the Company's business and makes operating decisions, including internal budgeting, and performance measurement, because these measures provide a consistent method of comparison to historical periods. Moreover, management believes these non-GAAP measures reflect the essential operating activities of Sino Clean Energy. Accordingly, management excludes such items when making operational decisions. The Company believes that providing the non-GAAP measures that management uses to its investors is useful to investors for a number of reasons. The non-GAAP measures provide a consistent basis for investors to understand the Company's financial performance in comparison to historical periods. In addition, it allows investors to evaluate the Company's performance using the same methodology and information as that used by our management. Non-GAAP measures are subject to inherent limitations because they do not include all of the expenses included under GAAP and because they involve the exercise of judgment of which charges are excluded from the non-GAAP financial measure. However, our management compensates for these limitations by providing the relevant disclosure of the items excluded.

The following table provides the non-GAAP financial measure and the related GAAP measure and provides a reconciliation of the non-GAAP measure to the equivalent GAAP measure.

                              Adjusted Income
                                (Unaudited)


                            Three months ended         Six months ended
                                 June 30,                  June 30,
                             2009         2008         2009         2008

Net income-U.S. GAAP     $   541,829  $   811,890  $ 2,107,305  $ 1,335,389
                         -----------  -----------  -----------  -----------
Add:
Amortization of deferred
 debt issuance costs         119,974                   217,102

Amortization of discount
 on convertible notes        423,687                   753,025

Expense related to
 escrow shares               120,166                   240,333

Charge for change in
 fair value of warrants
 and conversion feature    1,779,968                 1,200,990

Subtract:
Extinguishment of
 derivative liability        989,260                   989,260


Adjusted                 $ 1,996,364  $   811,890  $ 3,529,495  $ 1,335,389
                         -----------  -----------  -----------  -----------

About Sino Clean Energy

Sino Clean Energy is a U.S. publicly traded company and a China-based producer and distributor of coal-water mixture ("CWM"). Based in Shaanxi Province, Sino Clean Energy is the largest CWM producer in Northwestern China. For more information about Sino Clean Energy, please visit http://www.sinocei.net.

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: This press release contains certain "forward-looking statements," as defined in the United States Private Securities Litigation Reform Act of 1995, that involve a number of risks and uncertainties. There can be no assurance that such statements will prove to be accurate and the actual results and future events could differ materially from management's current expectations. Such factors include, but are not limited to uncertainties in product demand, the impact of competitive products and pricing, our ability to obtain regulatory approvals, changing economic conditions around the world, release and sales of new products and other factors detailed from time to time in the Company's filings with the United States Securities and Exchange Commission and other regulatory authorities. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

                  Sino Clean Energy Inc. and Subsidiaries
                  Condensed Consolidated Balance Sheets


                                                   June 30,    December 31,
                                                     2009          2008
                                                 ------------  ------------
                                                 (Unaudited)
                      ASSETS
Current assets
Cash and cash equivalents                        $  9,351,117  $  3,914,306
Accounts receivable, net                            2,113,857       899,629
Inventories                                           212,584        45,068
Prepaid inventories                                 1,177,530     1,996,584
Prepaid expenses                                       25,964        86,958
Refundable advance                                          -       731,861
Government grant receivable                                 -       146,314
Other receivables                                      23,438        16,986
Land use right - current portion                       38,719        38,703
                                                 ------------  ------------

Total current assets                               12,943,209     7,876,409

Property, plant and equipment, net of
 accumulated depreciation and amortization
 of $837,564 and $491,247, respectively             8,704,176     9,394,416
Land use right - non current portion                1,785,630     1,804,277
Prepayments and deposits                              946,515       994,395
Goodwill                                              762,018       762,018
Deferred debt issuance costs, net of
 accumulated amortization of $331,336
 and $114,233, respectively                           107,586       274,278
                                                 ------------  ------------

Total assets                                     $ 25,249,134  $ 21,105,793
                                                 ============  ============


                   LIABILITIES AND SHAREHOLDERS' EQUITY

Current liabilities
Convertible notes, net                           $    736,515  $    383,490
Accounts payable and accrued expenses               1,463,595     1,004,999
Taxes payable                                         561,155       305,903
Amount due to directors                                70,000       465,049
Fair value of warrants and embedded
 conversion feature                                 4,801,522             -
                                                 ------------  ------------

Total current liabilities                           7,632,787     2,159,441
                                                 ------------  ------------

Commitments and Contingencies

Shareholders' Equity
Preferred stock, $0.001 par value, 50,000,000
 shares authorized, none issued and outstanding             -             -

Common stock, $0.001 par value, 200,000,000
 shares authorized, 97,181,416 and 92,181,750
 issued and outstanding as of June 30, 2009
 and December 31, 2008 respectively                    97,181        92,182
Additional paid-in capital                         12,499,688    12,696,549
Retained earnings                                   2,539,250     3,686,087
Statutory reserves                                    348,309       348,309
Accumulated other comprehensive income              2,131,919     2,123,225
                                                 ------------  ------------

Total shareholders' equity                         17,616,347    18,946,352
                                                 ------------  ------------

Total liabilities and shareholders' equity       $ 25,249,134  $ 21,105,793
                                                 ============  ============





                 Sino Clean Energy, Inc. and Subsidiaries
Condensed Consolidated Statements of Income and Other Comprehensive Income
                                (Unaudited)


                        Three months ended           Six months ended
                             June 30,                    June 30,
                    --------------------------  --------------------------
                        2009          2008          2009          2008
                    ------------  ------------  ------------  ------------
Revenue             $  8,161,903  $  3,251,224  $ 15,901,486  $  5,736,352

Cost of goods sold    (5,534,929)   (2,245,700)  (10,883,036)   (3,930,379)
                    ------------  ------------  ------------  ------------

Gross profit           2,626,974     1,005,524     5,018,450     1,805,973

Selling, general
 and administrative
 expenses                434,673       224,666       987,131       390,569
                    ------------  ------------  ------------  ------------

Income from
 operations            2,192,301       780,858     4,031,319     1,415,404

Other income
 (expense)
Interest expense        (596,098)            -    (1,081,845)            -
Expense related to
 escrow shares          (120,166)            -      (240,333)            -
Commission income        152,597       144,875       191,291       144,875
Rental income, net             -        25,894             -        79,613
Interest income            7,285        11,511        11,271        11,511
Extinguishment of
 derivative
 liability               989,260             -       989,260             -
Change in fair
 value of warrants
 and conversion
 feature              (1,779,968)            -    (1,200,990)            -
Other                          -       (10,217)            -        26,843
Gain on disposal of
 property                      -        33,000             -        33,000
                    ------------  ------------  ------------  ------------

Total other income
 (expense)            (1,347,090)      205,063    (1,331,346)      295,842
                    ------------  ------------  ------------  ------------

Income before
 income taxes and
 noncontrolling
 interest                845,211       985,921     2,699,973     1,711,246

Provision (benefit)
 for income taxes        303,382       (21,375)      592,668        24,708
                    ------------  ------------  ------------  ------------

Income before
 noncontrolling
 interest                541,829     1,007,296     2,107,305     1,686,538

Income attributable
 to noncontrolling
 interest                      -      (195,406)            -      (351,149)
                    ------------  ------------  ------------  ------------

Net income               541,829       811,890     2,107,305     1,335,389

Other comprehensive
 income
Foreign currency
 translation
 adjustment               12,010       322,619         8,694       810,677
                    ------------  ------------  ------------  ------------

Comprehensive
 income             $    553,839  $  1,134,509  $  2,115,999  $  2,146,066
                    ============  ============  ============  ============

Weight average
 number of shares
- Basic               95,320,611    84,764,168    93,766,296    84,723,186
                    ============  ============  ============  ============
- Diluted             99,109,256    84,764,168    98,067,546    84,723,186
                    ============  ============  ============  ============

Income per common
 share
- Basic             $       0.01  $       0.01  $       0.02  $       0.02
                    ============  ============  ============  ============
- Diluted           $       0.01  $       0.01  $       0.02  $       0.02
                    ============  ============  ============  ============

Capital Group Communications, Inc. - Investor Relations
Kevin Fickle
Email Contact
(415)332-7200
(415)332-7201
Website: http://www.capitalgc.com...

Sino Clean Energy Inc.
Ming Lee
Assistant to the Chairman
+86-29-84067376

Source: Marketwire (August 18, 2009 - 6:00 AM EDT)

The notes mature three years from issuance and have an initial conversion price of $0.19 per share. Interest is payable quarterly in cash on the first day of January, April, July and October of each year and on maturity date, commencing October 1, 2009. The notes are secured by a personal guaranty by Baowen Ren, our Chairman and Chief Executive Officer, as well as a pledge of 35 million shares of common stock held by Mr. Ren and certain other shareholders of the Company. The conversion price is automatically adjusted 25% lower if the Company does not achieve $40 million in revenue and $10 million in net income for fiscal 2009, and 20% lower if the Company does not achieve $70 million in revenue and $15 million in net income for fiscal 2010.

The warrants expire in three years with an initial exercise price of $0.285 per share.

"The capital raised affords us the opportunity to move forward on increasing our production capacity, currently at 350,000 metric tons annually," commented Mr. Ren. "With more companies turning to coal-water mixture for their energy needs, we want to be in a position to meet the anticipated increase in demand."

In conjunction with the first closing on July 1, 2009, the Company redeemed or converted all of the then outstanding 18% senior convertible debentures that the Company previously issued in September 2008, including all accrued interests.

About Sino Clean Energy

Sino Clean Energy is a U.S. publicly traded company and a China-based producer and distributor of coal-water mixture ("CWM"). Based in Shaanxi Province, Sino Clean Energy is the largest CWM producer in Northwestern China. For more information about Sino Clean Energy, please visit http://www.suoang.com.

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: This press release contains certain "forward-looking statements," as defined in the United States Private Securities Litigation Reform Act of 1995, that involve a number of risks and uncertainties. There can be no assurance that such statements will prove to be accurate and the actual results and future events could differ materially from management's current expectations. Such factors include, but are not limited to uncertainties in product demand, the impact of competitive products and pricing, our ability to obtain regulatory approvals, changing economic conditions around the world, release and sales of new products and other factors detailed from time to time in the Company's filings with the United States Securities and Exchange Commission and other regulatory authorities. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

 
Contact:
Capital Group Communications, Inc. - Investor Relations
(415) 332-7200
(415) 332-7201
Website: http://www.capitalgc.com
Sino Clean Energy, Inc.
Ming Lee
Assistant to the Chairman
+86-29-84067376

First Quarter 2009 Highlights

--  Total revenue increased 211.4% year-over-year to $7.7 million
--  Gross profit increased 198.8% year-over-year to $2.4 million
--  Net income increased 199.0% year-over-year to $1.6 million
    

First Quarter 2009 Results

Total revenue for the first quarter of 2009 was $7,739,583, an increase of 211.4% from $2,485,128 for the same period in 2008. The Company's customers increased from 5 for the three months ended March 31, 2008, to 16 for the same period in 2009, contributing to the revenue increase year-over-year.

"We are very happy with the results for the first quarter of 2009," commented Mr. Baowen Ren, Chairman and CEO of Sino Clean Energy. "We have diversified our customer base and expect more companies to switch to coal-water mixture for their energy and heating requirements."

Gross profit during the quarter increased 198.8% to $2,391,476 from $800,449 a year ago, although the gross margin decreased from 32.2% to 30.9% as a result of higher cost of sales. The higher cost of sales, however, is in line with the increased sales.

General and administrative expenses increased to $548,899 in the first quarter of 2009 from under $163,498 in the same period of 2008.

The Company had net income of $1,565,476 for the first quarter of 2009, or $0.02 per common share, as compared to net income of $523,499, or $0.01 per common share, for the same period in 2008, an increase of 199.0%.

Financial Condition

As of March 31, 2009, the Company had $5,957,911 in cash and cash equivalents, total liabilities of $6,544,405, working capital of $4,492,540, and total shareholders' equity was $16,272,187.

Business Outlook

"We are confident about our prospects for the rest of 2009," commented Mr. Ren. "Our growing customer base is indicative of the increasing market awareness of and adaption to coal-water mixture, and we believe that demand for CWM will continue to exceed supply, even at our current production capacity of 350,000 tonnes annually."

About Sino Clean Energy

Sino Clean Energy is a U.S. publicly traded company and a China-based producer and distributor of coal-water mixture ("CWM"). Based in Shaanxi Province, Sino Clean Energy is the largest CWM producer in Northwestern China. For more information about Sino Clean Energy, please visit http://www.sinocei.net.

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: This press release contains certain "forward-looking statements," as defined in the United States Private Securities Litigation Reform Act of 1995, that involve a number of risks and uncertainties. There can be no assurance that such statements will prove to be accurate and the actual results and future events could differ materially from management's current expectations. Such factors include, but are not limited to uncertainties in product demand, the impact of competitive products and pricing, our ability to obtain regulatory approvals, changing economic conditions around the world, release and sales of new products and other factors detailed from time to time in the Company's filings with the United States Securities and Exchange Commission and other regulatory authorities. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

                 Sino Clean Energy, Inc. and Subsidiaries
Condensed Consolidated Statements of Income and Other Comprehensive Income
                                (Unaudited)


                                              Three Months ended March 31,
                                                  2009           2008
                                              -------------  -------------
Revenue                                       $   7,739,583  $   2,485,128

Cost of goods sold                               (5,348,107)    (1,684,679)
                                              -------------  -------------

Gross profit                                      2,391,476        800,449

Selling expenses                                      3,559          2,405
General and administrative expenses                 548,899        163,498
                                              -------------  -------------

Income from operations                            1,839,018        634,546
                                              -------------  -------------

Other income (expense)
  Interest expense                                 (485,747)
  Expense related to escrow shares                 (120,167)
  Commission income                                  38,694              -
  Rental income, net                                      -         53,719
  Interest income                                     3,986              -
  Change in fair value of warrants and
   embedded conversion feature                      578,978              -
  Other income                                            -         37,060
                                              -------------  -------------

Total other income (expense)                         15,744         90,779
                                              -------------  -------------

Income before income taxes and minority
 interest                                         1,854,762        725,325

Provision for income taxes                          289,286         46,083
                                              -------------  -------------

Income before minority interest                   1,565,476        679,242
                                              -------------  -------------

Minority interest                                         -       (155,743)
                                              -------------  -------------

Net income                                        1,565,476        523,499

Other comprehensive income
  Foreign currency translation adjustment            (3,316)       488,058
                                              -------------  -------------

Comprehensive income                          $   1,562,160  $   1,011,557
                                              =============  =============

Weight average number of shares
  - Basic                                        92,194,711     84,681,750
                                              =============  =============
  - Diluted                                      92,751,232     84,681,750
                                              =============  =============

Income per common share
  - Basic                                     $        0.02  $        0.01
                                              =============  =============
  - Diluted                                   $        0.02  $        0.01
                                              =============  =============

Contact:
Capital Group Communications, Inc.
Investor Relations
(415) 332-7200
(415) 332-7201
Website: http://www.capitalgc.com...
http://www.capitalgc.com

Sino Clean Energy, Inc.
Ming Lee
Assistant to the Chairman
+86-29-84067376

"We are gratified by the Agency's decision," stated Mr. Baowen Ren, Chairman and Chief Executive Officer of Sino Clean Energy. "More important to us than the amount of the grant is the provincial-level recognition of our business and the CWM technology represented by the grant itself. We are hopeful that this will encourage wider awareness and adoption of CWM throughout the province."

About Sino Clean Energy

Sino Clean Energy is a U.S. publicly traded company and a China-based producer and distributor of coal-water mixture ("CWM"). Based in Shaanxi Province, Sino Clean Energy is the largest CWM producer in Northwestern China. For more information about Sino Clean Energy, please visit http://www.sinocei.net.

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: This press release contains certain "forward-looking statements," as defined in the United States Private Securities Litigation Reform Act of 1995, that involve a number of risks and uncertainties. There can be no assurance that such statements will prove to be accurate and the actual results and future events could differ materially from management's current expectations. Such factors include, but are not limited to uncertainties in product demand, the impact of competitive products and pricing, our ability to obtain regulatory approvals, changing economic conditions around the world, release and sales of new products and other factors detailed from time to time in the Company's filings with the United States Securities and Exchange Commission and other regulatory authorities. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

     Contact:
      
     Capital Group Communications, Inc.
     Investor Relations
     (41...
     (415) 332-7201
     Website: http://www.capitalgc.com
      
     Sino Clean Energy Inc.
     Ming Lee
     Assistant to the Chairman
     +86-29-84067376

XI'AN, CHINA -- (Marketwire) -- 04/06/09 -- Sino Clean Energy, Inc. (OTCBB: SCLX) ("Sino Clean Energy," the "Company"), a producer and distributor of coal-water mixture ("CWM") in the People's Republic of China ("PRC"), announced its financial results for the fiscal year ended December 31, 2008.

Fiscal 2008 Highlights

--  Total revenue increased 392% year-over-year to $13.79 million
--  Gross profit increased 344% year-over-year to $4.52 million
--  Operational Income increased 989% year-over-year to $3.95 million
--  Net income increased 195% year-over-year to $3.00 million, or $0.03
    per basic and diluted share
--  Satisfies 2008 financial performance threshold of $3.5 million in net
    income (excluding certain non-cash charges) and cash from operating
    activities as mandated under terms of September 2008 private financing
--  Established audit, compensation and nominating committees, and adopted
    a Code of Business Conduct and Ethics, to strengthen our corporate
    governance in compliance with the listing requirements of a senior U.S.
    exchange
--  Appointed Hon Wan "Helice" Chan, a licensed CPA knowledgeable in US
    GAAP, as Chief Financial Officer to direct and supervise our financial
    reporting obligations
--  Appointed Bennet P. Tchaikovsky, a licensed CPA with considerable
    experience working with U.S. public companies, to our board of directors
    and to head our audit committee
--  Appointed Dr. Zidong Zhao, a scientist with considerable knowledge of
    coal and related industries in the PRC, to our board of directors
    

Full Year 2008 Results

Total revenue for 2008 was $13,785,125, an increase of 392% compared to $2,802,750 for 2007.

Costs of sales for 2008 were $9,266,832 compared to $1,785,601 for 2007, an increase of 419%. 2008's gross profit increased 344% to $4,518,293, or 33% of total sales, from $1,017,149, or 36% of total sales, for the prior year.

Income from operations for 2008 was $3,950,399, compared to $362,788 for 2007, an increase of 989%.

For 2008, net income was $2,999,605, or $0.03 per diluted common share, as compared to $1,016,938, or $0.01 per diluted common share, for 2007, an increase of 195%. GAAP results for 2008 include $676,466, or $0.01 per diluted share, of non-cash expense in the treatment as stock-based compensation of common shares placed in escrow by Baowen Ren, our Chairman and Chief Executive Officer, in connection with the Company's performance threshold requirements under the terms of the private financing in September 2008. Excluding this non-cash expense for 2008, diluted earnings per share was $0.04, compared to $0.01 per diluted share for 2007 (See "About Non-GAAP Financial Measures" toward the end of this release.)

"We concluded the 2008 fiscal year with a very strong finish," stated Mr. Ren. "The Company has not only established itself as the largest coal-water mixture producer in Northwestern China in a short span of time from July 2007 when we first began CWM production, but we have delivered on our covenants to our investors from the September 2008 private financing with respect to meeting our 2008 financial performance threshold."

Recent Events

In February 2009, the Company completed the installation of a Fluid Acoustic Energy CWM System, which management believes is the first of its kind in the PRC. The system is now online, and is expected to increase the Company's annual CWM production from 100,000 metric tons to 350,000 metric tons.

In March 2009, the Company successfully negotiated with the investors from its September 2008 private financing to amend certain less favorable terms of the transaction.

Financial Condition

As of December 31, 2008, the Company had $3,914,306 in cash and cash equivalents, total liabilities of $2,159,441 and working capital of $6,711,363. The Company generated positive operating cash flow of $4,412,227 during 2008. Shareholders' equity increased to $18,946,352 from $11,433,745 as of December 31, 2008.

Business Outlook

"With our recently expanded capacity, we look to continue dominating the Northwestern China market in 2009," Mr. Ren commented. "However, we are also looking to further expand our production capacity," Mr. Ren continued. "With a number of cities in the PRC already pushing the use of coal-water mixture, including Tongchuan where our plant is located, we believe market demand for CWM will continue to outpace supply."

About Non-GAAP Financial Measures

This press release contains non-GAAP financial measures for earnings that exclude the stock-based compensation treatment of the common shares placed in escrow by Mr. Ren in connection with the September 2008 private financing. The Company believes that these non-GAAP financial measures are useful to investors because they exclude non-cash charges that our management excludes when it internally evaluates the performance of the Company's business and makes operating decisions, including internal budgeting, and performance measurement, because these measures provide a consistent method of comparison to historical periods. Moreover, management believes these non-GAAP measures reflect the essential operating activities of Sino Clean Energy. Accordingly, management excludes the expense arising from stock-based compensation treatment of Mr. Ren's escrowed common shares when making operational decisions. The Company believes that providing the non-GAAP measures that management uses to its investors is useful to investors for a number of reasons. The non-GAAP measures provide a consistent basis for investors to understand the Company's financial performance in comparison to historical periods. In addition, it allows investors to evaluate the Company's performance using the same methodology and information as that used by our management. Non-GAAP measures are subject to inherent limitations because they do not include all of the expenses included under GAAP and because they involve the exercise of judgment of which charges are excluded from the non-GAAP financial measure. However, our management compensates for these limitations by providing the relevant disclosure of the items excluded.

The following table provides the non-GAAP financial measure and the related GAAP measure and provides a reconciliation of the non-GAAP measure to the equivalent GAAP measure.

                        Adjusted Net Income
                            (Unaudited)


GAAP Net Income                                    $ 2,999,605  $ 1,016,938
GAAP Diluted EPS                                   $      0.03  $      0.01

Addition:
Non-Cash Expense for Escrow Shares                 $   676,466
Diluted EPS                                        $      0.01

Non GAAP Net Income                                $ 3,676,071
Non GAAP Diluted EPS                               $      0.04

Shares used in computing
 net income per diluted share                       88,162,076   84,681,750

About Sino Clean Energy

Sino Clean Energy is a U.S. publicly traded company and a China-based producer and distributor of coal-water mixture ("CWM"). Based in Shaanxi Province, Sino Clean Energy is the largest CWM producer in Northwestern China. For more information about Sino Clean Energy, please visit http://www.sinocei.net.

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: This press release contains certain "forward-looking statements," as defined in the United States Private Securities Litigation Reform Act of 1995, that involve a number of risks and uncertainties. There can be no assurance that such statements will prove to be accurate and the actual results and future events could differ materially from management's current expectations. Such factors include, but are not limited to uncertainties in product demand, the impact of competitive products and pricing, our ability to obtain regulatory approvals, changing economic conditions around the world, release and sales of new products and other factors detailed from time to time in the Company's filings with the United States Securities and Exchange Commission and other regulatory authorities. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

- INCOME STATEMENT TO FOLLOW -

                 Sino Clean Energy, Inc. and Subsidiaries
     Consolidated Statements of Income and Other Comprehensive Income
              For the years ended December 31, 2008 and 2007


                                                  Year ended December 31,
                                                    2008          2007
                                                ------------  ------------
Revenue                                         $ 13,785,125  $  2,802,750

Cost of goods sold                                (9,266,832)   (1,785,601)
                                                ------------  ------------

Gross profit                                       4,518,293     1,017,149

Selling expenses                                      13,128        46,628
General and administrative expenses                  554,766       607,733
                                                ------------  ------------

Income from operations                             3,950,399       362,788
                                                ------------  ------------

Other income (expense)
  Interest expense                                  (566,752)            -
  Expense related to escrow shares                  (676,466)            -
  Commission income                                  468,864       281,077
  Rental income, net                                  78,691       257,462
  Interest income                                     27,397        16,747
  Government grant                                   141,501       397,001
  Gain on sale of leasehold                           33,069             -
  Other income                                             -         4,426
                                                ------------  ------------

Total other income (expenses)                       (493,696)      956,713
                                                ------------  ------------

Income before income taxes and minority
 interest                                          3,456,703     1,319,501

Provision for income taxes                           105,249        59,668
                                                ------------  ------------

Income before minority interest                    3,351,454     1,259,833

Minority interest                                   (351,849)     (242,895)
                                                ------------  ------------

Net income                                         2,999,605     1,016,938

Other comprehensive income
  Foreign currency translation adjustment            962,127       728,786
                                                ------------  ------------

Comprehensive income                            $  3,961,732  $  1,745,724
                                                ============  ============

Weight average number of shares
  - Basic                                         87,169,614    84,681,750
                                                ============  ============
  - Diluted                                       88,162,076    84,681,750
                                                ============  ============

Income per common share
  - Basic                                       $       0.03  $       0.01
                                                ============  ============
  - Diluted                                     $       0.03  $       0.01
                                                ============  ============

Contact:

Capital Group Communications, Inc. - Investor Relations
(415) 332-7200
(415) 332-7201
Website: http://www.capitalgc.com

Sino Clean Energy Inc.
Ming Lee
Assistant to the Chairman
+86-29-84067376

The System's technology simplifies the combining process of the basic components of coal-water mixture ("CWM"), thereby reducing the overall amount of raw materials required while increasing the production volume as compared to the traditional production method. Once the System is online, anticipated by the end of the first fiscal quarter of 2009, Company management expects to increase current annual CWM production volume by 250,000 tons. More importantly, the System's technology prevents sedimentation that can result from long-distanced transportation of CWM under the traditional production method, which can impact its combustion and heating proficiencies. To correct for possible sedimentation, CWM is typically transported over long distances in a tumbler similar to what one finds on a cement truck. With the System, CWM can be transported over long distances in a regular fuel tank without sedimentation, thereby reducing transportation expenses.

"We believe that the Fluid Acoustic Energy CWM System represents the latest technological innovation in our industry, and as the first company in China to implement such System, we are continuing our corporate tradition as an industry leader," stated Mr. Baowen Ren, Chairman and Chief Executive Officer of Sino Clean Energy. "We are excited by the business prospects that the System represents. Combined with the steps that we took back in December 2008 to strengthen our corporate governance in compliance with the listing requirements of a senior U.S. exchange, we are optimistic about the outlooks of the Company."

About Sino Clean Energy

Sino Clean Energy is a U.S. publicly traded company and a China-based producer and distributor of coal-water mixture ("CWM"). Based in Shaanxi Province, Sino Clean Energy is the largest CWM producer in Northwestern China. For more information about Sino Clean Energy, please visit http://www.suoang.com.

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: This press release contains certain "forward-looking statements," as defined in the United States Private Securities Litigation Reform Act of 1995, that involve a number of risks and uncertainties. There can be no assurance that such statements will prove to be accurate and the actual results and future events could differ materially from management's current expectations. Such factors include, but are not limited to uncertainties in product demand, the impact of competitive products and pricing, our ability to obtain regulatory approvals, changing economic conditions around the world, release and sales of new products and other factors detailed from time to time in the Company's filings with the United States Securities and Exchange Commission and other regulatory authorities. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Contact:
Capital Group Communications, Inc. - Investor Relations
(415) 332-7200
(415)332-7201
Website: http://www.capitalgc.com

Sino Clean Energy Inc.
Ming Lee
Assistant to the Chairman
+86-29-84067376

First, the Board appointed Mr. Hon Wan "Helice" Chan to the position of Chief Financial Officer and Principal Accounting Officer, effective December 15, 2008. Mr. Chan replaces Ms. Caixia Peng, who voluntarily stepped down as the Company's Chief Financial Officer, effective December 15, 2008.

Mr. Chan is a principal of CC Alliance CPA & Co. He was the Business Director for Texwood Group from November 2006 to February 2008, overseeing the company's business administration, finance and accounting, and as an in-house accountant from April 2000 to June 2005. Between his stints at Texwood Group, Mr. Chan was the Chief Financial Officer of South China Media Group from July 2005 to October 2006. Mr. Chan holds a masters degree in accountancy from the Hong Kong Polytechnic University, and a bachelor's degree in economics from Macquarie University in Australia. He is an associate member of both The Institute of Chartered Accountants in Australia and The Hong Kong Institute of Certified Public Accountants.

Next, the Board increased the number of directors from 3 to 5, and in connection therewith, appointed 2 independent directors, Mr. Bennet P. Tchaikovsky and Dr. Zidong Cao, to the Board, effective December 15, 2008.

Mr. Tchaikovsky is presently the Chief Financial Officer of Skystar Bio-Pharmaceutical Company. He is also currently serving on the board of directors of Ever-Glory International Group, Inc., as chairman of its audit committee and member of the compensation committee. He served as Chief Financial Officer of Innovative Card Technologies from July 2004 to October 2007, and as Vice President of Finance for TJR Industries, Inc. from January 2003 through November 2003. Prior to that, he was the Interim Chief Financial Officer and Chief Financial Officer of Digital Lava. Mr. Tchaikovsky is a licensed Certified Public Accountant and an inactive member of the California State Bar. He received a B.A. in Business Economics from the University of California at Santa Barbara and a J.D. from Southwestern University School of Law.

Dr. Cao is a scientist with substantial knowledge of the coal and related industries in China. He is presently the Assistant Dean of the School of Energy & Power Engineering and Associate Director of the Research Center on Environmental Science & Engineering at Xi'an Jiaotong University (the "University"). Dr. Cao was previously the Director of the University's Boiler Laboratory and the Boiler Teaching & Research Office. He is a member of the National Committee of Boiler Standardization and is the Vice Chairman of the Xi'an Association of Thermal Energy & Dynamics. Dr. Cao is a graduate of the University's School of Energy and Power Engineering, focusing on boiler research.

The Board also established an audit committee, a compensation committee and a nominating committee, and appointed Mr. Tchaikovsky and Dr. Cao to these committees, along with Mr. Wenjie Zhang, who has been on the Board since October 2006. The Board named Mr. Tchaikovsky as chairman of the audit committee, and Mr. Zhang as chairman of both compensation and nominating committees.

"We are pleased to welcome Mr. Chan as our new Chief Financial Officer and Principal Accounting Officer, and to welcome Mr. Tchaikovsky and Dr. Cao to our board of directors. Their solid backgrounds and depth of knowledge and experience will help make significant contributions to our company and ensure we meet the high standard of corporate governance necessary to be listed on a senior U.S. exchange," said Mr. Baowen Ren, Chairman and Chief Executive Officer of Sino Clean Energy.

Lastly, the Board adopted a Code of Business Conduct and Ethics applicable to all employees, officers and directors of the Company, in order to promote ethical conduct and compliance with compliance with laws and regulations, to provide guidance with respect to the handling of ethical issues, to implement mechanisms to report unethical conduct, to foster a culture of honesty and accountability, to deter wrongdoing, and to ensure fair and accurate financial reporting.

About Sino Clean Energy

Sino Clean Energy is a U.S. publicly traded company and a China-based producer and distributor of coal-water mixture ("CWM"). Based in Xi'an Province, Sino Clean Energy is the largest CWM producer in Northwestern China. For more information about Sino Clean Energy, please visit http://www.suoang.com.

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: This press release contains certain "forward-looking statements," as defined in the United States Private Securities Litigation Reform Act of 1995, that involve a number of risks and uncertainties. There can be no assurance that such statements will prove to be accurate and the actual results and future events could differ materially from management's current expectations. Such factors include, but are not limited to uncertainties in product demand, the impact of competitive products and pricing, our ability to obtain regulatory approvals, changing economic conditions around the world, release and sales of new products and other factors detailed from time to time in the Company's filings with the United States Securities and Exchange Commission and other regulatory authorities. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Contact:
Capital Group Communications, Inc. - Investor Relations
(415) 332-7200
(415) 332-7201
Website: http://www.capitalgc.com

Sino Clean Energy Inc.
Ming Lee
Assistant to the Chairman
+86-29-84067376

Third Quarter 2008 Highlights

--  Total revenue increased 1,357.5% year-over-year to $3.4 million
--  Gross profit increased 2,015.3% year-over-year to $1.1 million
--  Gross margin improved to 32.8% from 22.6% a year ago
--  Net income increased 872.9% year-over-year to $1.1 million
    

Third Quarter 2008 Results

For the third quarter of 2008, total revenue increased 1,357.5% to $3.4 million from $0.2 million a year ago. The Company's CWM production facility became operational and CWM production commenced in August of 2007 and since then has increased its production volume to meet demands, reflecting the revenue increase year over year.

"We are very pleased with our third quarter results," commented Mr. Baowen Ren, Chairman and Chief Executive Officer of Sino Clean Energy. "We expect strong revenue growth to continue in the fourth quarter with the onsets of the winter months."

Gross profit during the quarter increased 2,015.3% to $1.1 million, or 32.8% of total sales, from $0.05 million, or 22.6% of total sales, the prior year. The increase in gross margin was attributed to better control of production overhead and improved production efficiency.

General and administrative expenses increased to a little over two hundred thousand dollars in the third quarter of 2008 from about one hundred ninety seven thousand dollars in the same period of 2007.

For the third quarter of 2008, net income was $1.1 million, compared with net loss of one hundred fifty thousand dollars in the same quarter of 2007.

Diluted earnings per share were $0.0124, compared with loss of $0.0017 per diluted share in the third quarter of fiscal 2007.

Nine Month 2008 Results

Total sales for the first nine months of 2008 were $9.2 million, up 3,802.3% from sales of $0.2 million during the same period the prior year. Gross profit was $2.9 million, or 32.0% of sales, up 5,417.9% from $0.05 million, or 22.6% of sales, in the first half of 2007. Net income for the first nine months of 2008 was $2.5 million, compared to net loss of $0.1 million in the same period a year ago. Diluted earnings per share were $0.0269, compared with loss of $0.0015 per diluted share in the same period a year ago.

Financial Condition

As of September 30, 2008, the Company had $2.5 million in cash and cash equivalents, total liabilities of $1.3 million and working capital of $9.1 million. Shareholders' equity increased to $17.0 million from $11.4 million as of December 31, 2007.

In September 2008, Sino Clean Energy completed a private placement of 8% secured convertible debentures, convertible into shares of the Company's common stock at an initial conversion price of $0.15 per share, and warrants to purchase 8,904,334 shares of Sino Clean Energy common stock with an initial exercise price of $0.15 per share. The transaction generated approximately $1.3 million in gross proceeds which the Company plans to use to fund its working capital requirements.

Business Outlook

"We are very optimistic about our performance for the rest of 2008. We are in the process of installing a new production line. Once online, we anticipate the new production line to increase our current annual production capacity by 250 thousand tons. By expanding our production capacity, we are positioning ourselves to achieve substantial growth in an industry where demand far outpaces supply," commented Mr. Ren. "The overall result should be increased market penetration, and greater growth in revenues and net income."

About Sino Clean Energy

Sino Clean Energy is a U.S. publicly traded company and a China-based producer and distributor of coal-water mixture ("CWM"). Based in Xi'an Province, Sino Clean Energy is the largest CWM producer in Northwestern China. For more information about Sino Clean Energy, please visit http://www.suoang.com.

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: This press release contains certain "forward-looking statements," as defined in the United States Private Securities Litigation Reform Act of 1995, that involve a number of risks and uncertainties. There can be no assurance that such statements will prove to be accurate and the actual results and future events could differ materially from management's current expectations. Such factors include, but are not limited to uncertainties in product demand, the impact of competitive products and pricing, our ability to obtain regulatory approvals, changing economic conditions around the world, release and sales of new products and other factors detailed from time to time in the Company's filings with the United States Securities and Exchange Commission and other regulatory authorities. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

- FINANCIAL TABLES FOLLOW -

                  Sino Clean Energy Inc. and Subsidiaries
                        Consolidated Balance Sheets
                    (Amounts expressed in U.S. Dollars)

                                  ASSETS

                                              September 30,  December 31,
                                                  2008           2007
                                              -------------- --------------
                                                (Unaudited)     (Audited)
Current assets
Cash and cash equivalent                      $    2,533,999 $    2,832,132
Accounts receivable, net                           6,242,716      1,068,303
Deposits and prepayments                             732,420      2,542,929
Other receivables                                    160,829        138,523
Prepaid land use right - current portion              38,845         36,285
Government grant receivable                                -        411,000
Assets on discontinued operation
   Other receivable - related                              -        141,795
Inventories                                          293,101         40,959
                                              -------------- --------------

Total current assets                              10,001,910      7,211,926

Deferred debt issuance cost, net                     209,519              -
Property, plant and equipment, net                 5,915,779      5,435,804
Prepaid land use right - non current portion       1,810,955      1,718,744
Goodwill                                             410,869              -
Intangible assets, net                                 1,268          1,478
                                              -------------- --------------

Total assets                                  $   18,350,300 $   14,367,952
                                              ============== ==============



                   LIABILITIES AND SHAREHOLDERS' EQUITY


Current liabilities
Accounts payable                              $       47,043 $       41,827
Accrued expenses and other payables                  735,079        893,732
Amount due to a director                               1,178          8,527
Obligations under capital leases                      13,450              -
Taxes payable                                        150,031        130,332
Deposit on sales of property                               -      1,507,000
                                              -------------- --------------

Total current liabilities                            946,781      2,581,418
                                              -------------- --------------

Non-current liabilities
Convertible debentures                               383,856              -
Obligations under capital leases                       4,265              -
                                              -------------- --------------

Total non-current liabilities                        388,121              -
                                              -------------- --------------

Total liabilities                                  1,334,902      2,581,418
                                              -------------- --------------

Minority interest                                          -        352,789
                                              -------------- --------------

Commitments and Contingencies

Shareholders' Equity
Preferred stock, $0.001 par value,
 50,000,000 shares authorized,
 nil issued and outstanding                                -              -
Common stock, $0.001 par value,
 200,000,000 shares authorized,
 92,181,750 and 84,681,750 issued and
 outstanding as of September 30, 2008
 and December 31, 2007,
 respectively                                         92,182         84,682
Additional paid-in capital                        11,312,205      9,153,174
Retained earnings                                  3,166,608        686,482
Statutory reserves                                   348,309        348,309
Accumulated other comprehensive income             2,096,094      1,161,098
                                              -------------- --------------

Total shareholders' equity                        17,015,398     11,433,745
                                              -------------- --------------

Total liabilities and shareholders' equity    $   18,350,300 $   14,367,952
                                              ============== ==============




                  Sino Clean Energy Inc. and Subsidiaries
              Consolidated Statements of Income (Operations)
                      and Other Comprehensive Income
  For the three months and nine months ended September 30, 2008 and 2007
                    (Amounts expressed in U.S. Dollars)
                                (Unaudited)


                           Three months ended         Nine months ended
                              September 30,             September 30,
                            2008         2007         2008         2007
                        -----------  -----------  -----------  -----------

Revenue                 $ 3,419,941  $   234,639  $ 9,156,293  $   234,639

Cost of goods sold       (2,297,227)    (181,563)  (6,227,606)    (181,563)
                        -----------  -----------  -----------  -----------

Gross profit              1,122,714       53,076    2,928,687       53,076

Selling expenses              3,106       17,229        7,871       19,009
General and administrative
 expenses                   204,915      197,371      590,719      330,282
                        -----------  -----------  -----------  -----------


Income (loss) from
 operations                 914,693     (161,524)   2,330,097     (296,215)
                        -----------  -----------  -----------  -----------

Other income (expenses)
  Rental income, net of
   outgoings                    230            -       79,843            -
  Interest income             8,026        3,449       19,537       13,372
  Commission income          80,072            -      224,947            -
  Sundry income (expenses)       78        6,471       26,921         (131)
  Other income (expenses)         -       (7,601)           -      137,339
  Gain on disposal of
   property                      95            -       33,095            -
  Government grant          141,614            -      141,614            -
                        -----------  -----------  -----------  -----------

Total other income          230,115        2,319      525,957      150,580
                        -----------  -----------  -----------  -----------

Income (loss) before
 provision for income
 taxes                    1,144,808     (159,205)   2,856,054     (145,635)

Provision for income
 taxes                           71            -       24,779            -
                        -----------  -----------  -----------  -----------

Net income (loss)
 before minority
 interest               $ 1,144,737  $  (159,205) $ 2,831,275  $  (145,635)
                        -----------  -----------  -----------  -----------

Less: Minority interest           -       11,099     (351,149)      21,190
                        -----------  -----------  -----------  -----------

Net income (loss)         1,144,737     (148,106)   2,480,126     (124,445)

Other comprehensive
 income
  Foreign currency
   translation
   adjustment               124,319      116,066      934,996      385,813
                        -----------  -----------  -----------  -----------

Comprehensive income
 (loss)                 $ 1,269,056  $   (32,040) $ 3,415,122  $   261,368
                        ===========  ===========  ===========  ===========

Weight average number
 of shares
  - Basic and diluted    92,181,750   84,681,750   92,181,750   84,681,750
                        ===========  ===========  ===========  ===========

Income (loss) per
 common share

  - Basic and diluted   $    0.0124  $   (0.0017) $    0.0269  $   (0.0015)
                        ===========  ===========  ===========  ===========



                 Sino Clean Energy Inc. and Subsidiaries
                  Consolidated Statements of Cash Flows
                    (Amounts expressed in U.S. Dollars)
                                (Unaudited)


                                               Period ended September 30,
                                                  2008           2007
                                              -------------  -------------

Cash flows from operating activities:
Net income                                    $   2,480,126  $    (124,445)
Adjustments to reconcile net income to cash
 provided by operating activities:
  Minority interest                                 351,149        (21,190)
  Net income from discontinued operations                 -       (137,339)
  Amortization of deferred debenture expenses         8,399              -
  Discount on debenture                              35,127              -
  Depreciation and amortization                     175,399         40,607
  Gain on disposal of property                      (33,095)             -
(Increase) decrease in assets:
Accounts receivable                              (4,923,476)      (248,645)
Deposits and prepayments                          1,921,371     (2,633,573)
Other receivables                                   (14,227)       207,656
Prepaid land use rights                              28,031              -
Receipt from government grant                       411,000              -
Other receivables - discontinued operations         141,795              -
Inventories                                        (240,670)       (28,160)
Increase (decrease) in liabilities:
Accounts payable                                      2,187        148,429
Advance from customers                                    -        602,864
Accrued expenses and other payable                 (198,852)       105,435
Taxes payables                                       10,143         37,730
Net cash provided by discontinued operations              -         69,729
                                              -------------  -------------
Net cash provided from (used in) operating
 activities                                         154,407     (1,980,902)
                                              -------------  -------------

Cash flows from investing activities:
Amount due from a director                                -        133,255
Purchase of property, plant and equipment        (2,791,475)    (1,187,120)
                                              -------------  -------------
Net cash used in investing activities            (2,791,475)    (1,053,865)
                                              -------------  -------------

Cash flows from financing activities:
(Payment to) advance from a director                 (7,427)        74,515
Proceeds from disposal of property                1,025,437              -
Issuance of convertible debenture                 1,148,491              -
Capital element of capital lease                     44,423              -
Obligations under capital leases                    (27,318)             -
                                              -------------  -------------
Net cash provided by financing activities         2,183,606         74,515
                                              -------------  -------------

Effect of foreign currency translation              155,329        120,880
                                              -------------  -------------

Net decrease in cash and cash equivalents          (298,133)    (2,839,372)

Cash and cash equivalents, beginning of
 period                                           2,832,132      4,450,557
                                              -------------  -------------

Cash and cash equivalents, end of period      $   2,533,999  $   1,611,185
                                              =============  =============

Supplemental Disclosure Information

Interest paid                                 $           -  $           -
                                              =============  =============

Income taxes paid                             $           -  $           -
                                              =============  =============

Major non-cash transaction
Issuance of share in exchange of equity
 interest
                                              $   1,500,000  $           -
                                              =============  =============

Contact:
Capital Group Communications, Inc. - Investor Relations
(415) 332-7200
(415) 332-7201
Website: http://www.capitalgc.com

Sino Clean Energy Inc.
Ming Lee
Assistant to the Chairman
+86-29-84067376