New Energy Systems Group Retains HC International as Investor Relations Advisor

SHENZHEN, China, Nov. 3, 2010 /PRNewswire-Asia-FirstCall/ -- New Energy Systems Group (NYSE Amex: NEWN) ("New Energy" or the "Company"), a vertically integrated original design manufacturer and distributor of lithium ion batteries and backup power systems, today announced it has retained HC International, Inc. ("HC International") to provide strategic investor relations services. HC International will assist the Company in broadening its presence in the financial markets while helping investors gain a better understanding of New Energy's business and financial attributes. Matthew Hayden, John Mattio, and the rest of the HC International team will be advising the Company in all facets of corporate and financial communications.

"As a rapidly growing US-listed company and at the requests of some of our shareholders, we have selected HC International to provide us with a comprehensive investor relations and corporate communications strategy," said Mr. Jacky Yu, Chairman. "The team at HC International has a proven track record of representing successful, well-run Chinese companies listed on US exchanges and those with a consumer products focus. We are confident that HC International will help us proactively convey our business model, growth strategy, competitive advantages, and value propositions to the investment community. As part of our efforts to heighten our profile in the investment community, in addition to hiring a new investor relations firm, we will also be presenting at two investor conferences and conducting a non-deal roadshow later this month," Mr. Yu added.

"New Energy is targeting one of the fastest growing verticals within the technology sector worldwide, back-up and remote power for a broad array of portable consumer electronic devices,"  stated Matthew Hayden, President of HC International. "As a designer, manufacturer and marketer of remote power devices in China, New Energy is capitalizing on advanced battery technology to develop proprietary, branded consumer products for mobile phones, laptops and other mobile devices in China and in international markets.  With China's mobile phone subscriber base projected to grow significantly from over 600 million today, New Energy is poised to capitalize on the secular trends of mobility, rising middle class, and remote power demands of consumers and their devices."

About New Energy Systems Group

New Energy Systems Group is a vertically integrated original design manufacturer and distributor of lithium ion batteries and backup power systems for mobile phones, laptops, digital cameras, MP3s and a variety of other portable electronics. The company's end-user consumer products are sold under the Anytone® brand in China, and the company has begun expanding its international sales efforts. The fast pace of new mobile device introductions in China combined with a growing middle class make it fertile ground for New Energy's end-user consumer products, as well as its high powered, light weight lithium ion batteries. In addition to historically strong organic growth, New Energy is expected to benefit from economies of scale, broader distribution, greater production capacity and higher profit margins in 2010. Additional information about the company is available at: www.newenergysystemsgroup.com.

Forward Looking Statements

This release contains certain "forward-looking statements" relating to the business of the Company and its subsidiary and affiliated companies. These forward looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions. Such forward looking statements involve known and unknown risks and uncertainties that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website (www.sec.gov). All forward-looking statements attributable to the Company or to persons acting on its behalf are expressly qualified in their entirety by these factors other than as required under the securities laws. The Company does not assume a duty to update these forward-looking statements.

SOURCE New Energy Systems Group

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