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Updated WWEI report

Ludlow China Updates Research Opinion on Welwind Energy International Corp.
Last Updated: July 14, 2008 - 7:23pm EST

SAN DIEGO, July 14, 2008 (PRIME NEWSWIRE) -- Ludlow China Ventures, Inc. maintains its research opinion on Welwind Energy International Corp. (OTC BB:WWEI), a producer and operator of wind farms in China, with a 'speculative' B+ rating, and near term price target of $0.60 per share.

COVERAGE SUMMARY

Mark Blackwell, alternative energy research analyst with Ludlow Energy Ventures commented, "The recent approval of applications made to the Military and the Guangdong Provincial Oceans and Fisheries Bureau should now open the door for the company to finalize a power purchase agreement (PPA) with the Chinese government. Once issued, this will now open the company to further PPA agreements as the Chinese government pushes for more ‘green’ energy solutions in the PRC. The company is expected to meet with government officials in Zhanjiang to finalize a power purchase agreement (PPA) sometime this week. For now, all eyes look to the wires for updates on a finalized PPA agreement from China."

"Ludlow China has learned the new PPA could be valued at $90 million, and with just under 160 million shares outstanding, this would give WWEI a valuation of $0.60 per share, or a market cap of $96 million."

Ludlow China Ventures is maintaining its 'speculative' B+ rating and near-term price target of $0.60-$0.70 per share."

http://www.ludlowchina.com/reports/wwei.htm