Harbin Electric Refutes Rumor of SEC Investigation in Blog Posting

HARBIN, China, Aug. 5, 2011 /PRNewswire-Asia-FirstCall/ -- Harbin Electric, Inc., ("Harbin Electric" or the "Company"; Nasdaq: HRBN), a leading developer and manufacturer of a wide array of electric motors in the People's Republic of China, in response to a rumor in a blog posting, states that the Company is not and has not been the subject of any informal or formal SEC investigation.

"Let me make it very clear that the Company is not the subject of any informal or formal SEC investigation and that it has never been," said Mr. Tianfu Yang, Chairman and CEO of the Company. "As we expected, it is becoming quite clear that people aligned with short-selling interests are doing everything they can to mislead the market in general, and our loyal shareholders in particular, to continuously depress our stock price for the benefit of a few. We condemn this latest attempt to harm our shareholders and we encourage them to be vigilant when considering information that may be disseminated about the Company, including the source of such information," added Chairman Yang.

About Harbin Electric, Inc.

Harbin Electric, headquartered in Harbin, China, is a leading developer and manufacturer of a wide array of electric motors with a focus on innovative, customized, and value-added products. Its major product lines include industrial rotary motors, linear motors, and specialty micro-motors. The Company's products are purchased by a broad range of domestic and international customers, including those involved in the energy industry, factory automation, food processing, packaging, transportation, automobile, medical devices, machinery and tool manufacturing, chemical, petrochemical, as well as in the metallurgical and mining industries. The Company operates four manufacturing facilities in China located in Xi'an, Weihai, Harbin, and Shanghai.

Harbin Electric has built a strong research and development capability by recruiting talent worldwide and through collaboration with top scientific institutions. The Company owns numerous patents in China and has developed award-winning products for its customers. Relying on its own proprietary technology, the Company developed an energy efficient linear motor driven oil pump, the first of its kind in the world, for the largest oil field in China. Its self-developed linear motor propulsion system is powering China's first domestically-made linear-motor-driven metro train. As China continues to grow its industrial base, Harbin Electric aspires to be a leader in the industrialization and technology transformation of the Chinese manufacturing sector. To learn more about Harbin Electric, visit www.harbinelectric.com.

SOURCE Harbin Electric, Inc.

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