China Ritar Power Pre-announces 2010 Third Quarter Results and Issues Fourth Quarter Revenue Guidance

SHENZHEN, China, Nov. 4, 2010 /PRNewswire-Asia-FirstCall/ -- China Ritar Power Corporation (Nasdaq: CRTP), a leading supplier of innovative nano gel battery products and solutions, today announced that for third quarter of 2010, it expects revenue to be in the range of $30.5 to $32.5 million and Income from Continuing Operations to be in the range of $1.65 to $1.80 million.  This updated result is due to sharp increase in lead prices, delay of delivery in several large contracts and appreciation of RMB exchange rate, which resulted in higher cost for the company in dollar terms.

For Q4 of 2010, China Ritar expects the revenue to be in the range of $29.0 to $34.0 million.

China Ritar will provide full third quarter results during its regularly scheduled earnings call on November 15, 2010.

About China Ritar Power Corporation

China Ritar Power Corporation (Nasdaq: CRTP) ("China Ritar") is the leading supplier of innovative nano gel and environmentally friendly battery products and solutions for power applications and power storing systems. China Ritar's products and solutions are used in Alternative Energy (solar and wind power), Telecommunications (3G), Uninterrupted Power Source (UPS) and Light Electrical Vehicles (LEV) industries. In 2009, China Ritar had sales of $98.6 million and currently employs about 1,800 people worldwide. Ritar (R) is a registered trademark of China Ritar in China and other countries. All product names are trademarks of China Ritar (including its subsidiaries).

Safe Harbor Statement

Certain statements in this release and other written or oral statements made by or on behalf of the Company are "forward-looking statements" within the meaning of the federal securities laws. Statements regarding future events and developments and our future performance, as well as management's expectations, beliefs, plans, estimates or projections relating to the future are forward-looking statements within the meaning of these laws. The forward-looking statements are subject to a number of risks and uncertainties including market acceptance of the Company's services and projects and the Company's continued access to capital and other risks and uncertainties. The actual results the Company achieves may differ materially from those contemplated by any forward-looking statements due to such risks and uncertainties. These statements are based on our current expectations and speak only as of the date of such statements.

SOURCE China Ritar Power Corp.

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