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NOEC - Global Market listing 12 MM float 5-Mar-08 08:37 am New Oriental Energy & Chemical Attains Upgraded Listing on NASDAQ Global Market
Wednesday March 5, 8:30 am ET


NEW YORK, NY--(MARKET WIRE)--Mar 5, 2008 -- New Oriental Energy & Chemical Corp. (NasdaqCM:NOEC - News), a specialty chemical and emerging alternative fuel manufacturer in The People's Republic of China (PRC), announced today that NASDAQ Stock Market has approved its application to upgrade its listing from the NASDAQ National Market to the NASDAQ Global Market. The Company's shares will continue to trade with the trading symbol "NOEC" and are expected to begin trading on the NASDAQ Global Market on Thursday, March 6, 2008.
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According to Mr. Chen Si Qiang, chief executive officer of New Oriental Energy & Chemical, "In order to qualify for the NASDAQ Global Market, our Company was required to meet stringent financial and liquidity requirements as well as specific corporate governance standards." He added, "Importantly, we believe that the upgrade expands our investor audience and also will provide us with increased visibility, which is in line with our continuing efforts to increase shareholder value."