China Development Group Corp. (CTDC)

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CTDC Enters into Strategic Cooperation Agreement with Russian Energy Group

HONG KONG – December 1, 2009 — China Technology Development Group Corporation (Nasdaq: CTDC; “CTDC” or “the Company”), a growing integrated clean energy group based in China to provide solar energy products and solutions, today announced the Company has agreed to enter into strategic cooperation agreement (the “SCA”) with Rus Energy Investment Group (“Rus Energy”) to leverage mutual strengths to jointly develop the clean energy business in both China and Russia.

Pursuant to the SCA, both parties will establish in-depth cooperative arrangements in the following three major areas:

(1) development of the Russian solar power station and other solar related business in Russia to provide environmental friendly and clean solar power;

(2) jointly develop Russia’s natural gas resources and supply to mainland China, Hong Kong and Taiwan regions; and

(3) jointly set up the Sino-Russian clean energy assessment team to conduct substantive investigation in terms of the potential cooperation on clean energy projects and carry out feasibility studies for the reference to the board of directors of both companies.

On October 12, Sino-Russian Energy Investment Co., Ltd (“SREI”), a subsidiary of Rus Energy announced the acquisition of 51% equity interests in Russian Suntar Natural Gas Company. As a result, SREI has obtained exploration and production rights of 2 natural gas fields in Eastern Siberia with up to 60 billion cubic meters of reserved natural gas. Rus Energy will become the first Sino-Russian joint venture in natural gas and has obtained the controlling interests in these Russian natural gas fields. Rus Energy is planning to invest over USD300 million to develop these 2 natural gas fields.

“We are really pleased to be a strategy partner of Rus Energy”, stated Mr. Alan Li, Chairman and CEO of the Company, “It’s another significant momentum in our clean energy business development following our investment in the large-scale grid-connected solar power station in Qinghai province in China. China is making every effort to develop clean energy. It’s expected that by 2020, China’s carbon dioxide emissions per unit of GDP will decline by 40%-50%, compared with 2005. It is clearly stated in Russian New Energy Strategy that the Russian natural gas and other conventional energy reserves, production and export volume will be increased. Meanwhile, the renewable energy as a percentage of the total energy consumption will also increase. We could prospect a greater development in the clean energy between China and Russia, which presents a rare opportunity for mutual development. We do hope to work closely with the Rus Energy to achieve the substantial growth. “

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About CTDC:
CTDC is a growing integrated clean energy group based in China to provide solar energy products and solutions. CTDC’s major shareholders include China Merchants Group http://www.cmhk.com/en/ a state-owned conglomerate in China, and Beijing Holdings Limited, the largest offshore subsidiary established by Beijing Municipal Government. For more information, please visit our website at http://www.chinactdc.com

About Rus Energy£º
Rus Energy is a Hong Kong registered company and mainly engaged in the development, exploration and production of clean energy in Russia.