Gushan Environmental Energy Limited Announces Granting of Share Options

NEW YORK, March 17 /PRNewswire-FirstCall/ -- Gushan Environmental Energy Limited (the "Company"; NYSE: GU) announces that the Board of Directors has granted share options to 93 individuals, including officers, employees and four directors of the Company totaling 5,120,000 ordinary shares (2,560,000 American Depositary Shares ("ADS")) at an exercise price of USD0.61 per ordinary share (as adjusted to USD1.22 per ADS) of the Company on March 16, 2010. The options will vest one third on each of the first, second, and third anniversaries from the date of grant. The options will expire ten years from the date of grant. The options have been granted pursuant to the Company's share option scheme. The purpose of the option grants is to encourage the retention of personnel in a competitive market place. Together with those share options previously granted (taking into account those share options which have been forfeited), there are 12,647,527 ordinary shares (6,323,764 ADSs) issuable upon exercise of outstanding share options and there are 1,035,667 ordinary shares (517,834 ADSs) available for future issuance upon the exercise of future grants under the share option scheme.

About Gushan Environmental Energy Limited

Gushan is a leader in the PRC biodiesel industry, in terms of annual production capacity, and one of the leading biodiesel producers in Asia, in terms of nominal capacity. The Company produces biodiesel, a renewable, clean-burning and biodegradable fuel and a raw material used to produce chemical products, primarily from vegetable oil offal and used cooking oil, and by-products from biodiesel production, including glycerine, plant asphalt, erucic acid and erucic amide. Gushan sells biodiesel directly to users, such as marine vessel operators and chemical factories, as well as to petroleum wholesalers and individual retail gas stations. The Company has seven production facilities, located in the Sichuan, Hebei, Fujian and Hunan provinces and in Beijing, Shanghai and Chongqing, with a combined annual production capacity of 450,000 tons. The Company's Sichuan, Hebei, Beijing and Shanghai production facilities are currently in operation.

Safe Harbor Statement

This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by words such as "will," "may," "expect," "anticipate," "aim," "target," "intend," "plan," "believe," "estimate," "potential," "continue," and other similar statements. Statements other than statements of historical facts in this announcement are forward-looking statements, including but not limited to, the Company's expectations regarding the expansion of its production capacities, its future business development, and its beliefs regarding its production output. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the Company and the industry. Important risks and uncertainties that could cause the Company's actual results to be materially different from expectations include but are not limited to the effect of any applicable government policy, law or regulation, of natural disasters, and of intensifying competition in the biodiesel and alternative energy industries, the availability of suitable raw materials to the Company, and the risks set forth in the Company's filings with the U.S. Securities and Exchange Commission, including on Form F-1, as amended. The Company undertakes no obligation to update forward-looking statements, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that its expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results.

SOURCE Gushan Environmental Energy Limited

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