China Energy Savings Technology (CESV)

[beigledog]

China Energy Savings Announces Reasons of Trading Halt
Wednesday March 22, 8:30 am ET


HONG KONG, March 22 /Xinhua-PRNewswire/ -- As previously announced by Nasdaq, trading in shares of China Energy Savings Technology, Inc.'s (Nasdaq: CESV - News) common stock was halted on February 15, 2006, and would remain halted until the Company had satisfied Nasdaq's request for additional information. At Nasdaq's request, China Energy Savings Technology is providing this update as to the status of Nasdaq's inquiry. Nasdaq's request for information involves the facts and circumstances regarding the underlying transactions related to the rescission of certain Rule 144 legal opinions by the Company's prior securities counsel who resigned in February 2006, as well as certain other matters related to the company's issuance of securities. The Company has retained new securities counsel and is cooperating with Nasdaq in an effort to resolve any questions or issues raised by Nasdaq in order to resume trading as soon as possible.