Keyuan wins delay in NASDAQ de-listing case

ERJ staff report (DS)

Ningbo, China -- Keyuan Petrochemicals, Inc.said the NASDAQ Hearings Panel has granted a stay of delisting of the Company's securities pending the Company's scheduled hearing to be held on August 25, 2011. As a result, the Company's securities will remain listed, however halted, on the NASDAQ Global Select Market.

The Company said it is working diligently to complete its 2010 and 1H 2011 filings as soon as possible and continuing its full cooperation with the Audit Committee's investigation. With these filings and completion of the investigation, Keyuan believes that it will regain compliance with the requirements for continued listing.

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Press release from Keyuan