Wowjoint Holdings Limited Signs $5 Million in New Contracts and Enters New Market

BEIJING, Feb. 21, 2011 /PRNewswire-Asia/ -- Wowjoint Holdings Limited ("Wowjoint," or the "Company") (Nasdaq: BWOW, BWOWU, BWOWW), a leading provider of customized heavy duty lifting and carrying machinery used in large scale infrastructure projects such as railway, highway and bridge construction, today announced it has signed $5 million in new equipment contracts.

The first contract totaling $4 million is with China Railway 16th Bureau's No. 5 Engineering Company, for a 900 ton tyre trolley and a 900 ton launching gantry. Both machines are being custom designed to pass through a tunnel, resulting in a narrower and lower machine that still possesses Wowjoint's traditional high functionality.  The machines will be utilized in the construction of the Shanghai-Kunming high-speed railway. This represents the 13th order we have received from China Railway in the past 12 months and the 41st high-speed railway contract we have won since we introduced these products.

"Wowjoint is pleased to receive this new order as we further extend our strong relationship with China Railway 16th Bureau. Our equipment offers a high level of special functionality needed to complete the project, while allowing ease of passage through the tunnels during the high-speed railway construction," Mr. Yabin Liu, Chief Executive Officer of Wowjoint remarked. "With a robust pipeline of new railway projects, we continue to see tremendous sales momentum and opportunities in China and abroad."

Sunbird Yacht Company ("Sunbird"), China's largest yacht manufacturer and the only publicly listed China-based yacht company, signed a $1 million contract with Wowjoint to purchase two 150 ton tyre marine hoists. The tyre marine hoist, a new machine developed and designed solely by Wowjoint, represents the first sale into the yacht industry and provides a significant competitive advantage in pursuing additional contracts within this growing niche market.  This contract represents the first sale of this product into the yacht industry.

"We are excited about our recent entry into China's yacht industry through our contract with Sunbird," Mr. Liu continued. "They are a leader in the Chinese yacht industry, with approximately $182 million in sales in 2009. As the sole producer of this equipment, we are confident in securing additional orders."

About Wowjoint Holdings Limited

Wowjoint is a leading provider of customized heavy duty lifting and carrying machinery used in such large scale infrastructure projects as railway, highway and bridge construction. Wowjoint's main product lines include launching gantries, tyre trolleys, special carriers and marine hoists. The Company's innovative design capabilities have resulted in patent grants and proprietary products. Wowjoint is well positioned to benefit directly from China's rapid infrastructure development by leveraging its extensive operational experience and long-term relationships with established blue chip customers. Information on Wowjoint's products and other relevant information are available on its website at http://www.wowjoint.com.

Forward-Looking Statements

This press release includes "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Words such as "expect," "estimate," "project," "budget," "forecast," "anticipate," "intend," "plan," "may," "will," "could," "should," "believes," "predicts," "potential," "continue," and similar expressions are intended to identify such forward-looking statements. Forward-looking statements in this press release include matters that involve known and unknown risks, uncertainties and other factors that may cause actual results, levels of activity, performance or achievements to differ materially from results expressed or implied by this press release. Wowjoint undertakes no obligation and does not intend to update these forward-looking statements to reflect events or circumstances occurring after the date of this communication. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this communication. All forward-looking statements are qualified in their entirety by this cautionary statement. All subsequent written and oral forward-looking statements concerning Wowjoint or other matters and attributable to Wowjoint or any person acting on their behalf are expressly qualified in their entirety by the cautionary statements above. Wowjoint does not undertake any obligation to update any forward-looking statement, whether written or oral, relating to the matters discussed in this news release.

SOURCE Wowjoint Holdings Limited

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