China Clean Energy's Jiangyin Plant Construction Delayed

FUQING CITY, China, Oct. 23 /Xinhua-PRNewswire-FirstCall/ -- China Clean
Energy Inc. (OTC Bulletin Board: CCGY) ("China Clean Energy" or the "Company")
today announced that start-up of its Jiangyin plant has been delayed and that
commercial production at the plant is not expected to commence until the
second quarter of 2009.
As previously disclosed, in connection with its January 15, 2008 private
placement, certain members of the Company's management deposited an aggregate
of 1.5 million shares of common stock into an escrow account, which shares
shall be disbursed, pro rata, among the private placement investors should (i)
the Company fail to begin the production of biodiesel at its currently
proposed production facility in Jiang Yin, People's Republic of China on or
before January 1, 2009 or (ii) the Company fail to achieve at least
$14,000,000 of adjusted net income during 2009. As a result of the
construction delay, the Company now plans to disburse the 1.5 million shares
to private placement investors before the end of January 2009. The
aforementioned share distribution will not be dilutive to existing
shareholders and will have no impact on the Company's cash position or
operating results.
Commenting, Tai-ming Ou, the Company's Chairman and CEO said, "We are very
disappointed by this delay. Until recently, we believed that most or all of
the time slippage related to weather and engineering difficulties could be
overcome, but that is no longer the case."
About China Clean Energy:
China Clean Energy, through its wholly-owned subsidiaries, Fujian Zhongde
Technology Co., Ltd. and Fujian Zhongde Energy Co., Ltd, is engaged in the
development, manufacturing, and distribution of specialty chemical products
made from renewable resources.
Safe Harbor Statement
This announcement contains forward-looking statements within the meaning
of the safe harbor provisions of the Private Securities Litigation Reform Act
of 1995. All statements other than statements of historical fact in this
announcement are forward-looking statements, including but not limited to, the
Company's ability to raise additional capital to finance the Company's
activities; the effectiveness, profitability, and the marketability of its
products; legal and regulatory risks associated with the share exchange; the
future trading of the common stock of the Company; the ability of the Company
to expand its production capacity; Company's ability to secure raw material
feedstock supplies; the period of time for which its current liquidity will
enable the Company to fund its operations; the Company's ability to protect
its proprietary information; general economic and business conditions; the
volatility of the Company's operating results and financial condition; the
Company's ability to attract or retain qualified senior management personnel
and research and development staff; and other risks detailed in the Company's
filings with the Securities and Exchange Commission. These forward-looking
statements involve known and unknown risks and uncertainties and are based on
current expectations, assumptions, estimates and projections about the Company
and the industry. The Company undertakes no obligation to update forward-
looking statements to reflect subsequent occurring events or circumstances, or
to changes in its expectations, except as may be required by law. Although
the Company believes that the expectations expressed in these forward looking
statements are reasonable, they cannot assure you that their expectations will
turn out to be correct, and investors are cautioned that actual results may
differ materially from the anticipated results.
For more information, please contact:

China Clean Energy Inc.
Shannon Yan, CFO
Email: shannon.yan@chinacleanenergyinc.com

CCG Elite Investor Relations Inc.
Crocker Coulson, President
Tel: +1-646-213-1915

Ed Job, CFA
Tel: +1-646-213-1914
Email: ed.job@ccgir.com

SOURCE China Clean Energy Inc.

China Clean Energy Inc. - Shannon Yan, CFO,
shannon.yan@chinacleanenergyinc.com; CCG Elite Investor Relations Inc. -
Crocker Coulson, President, +1-646-213-1915; Ed Job, CFA, +1-646-213-1914, or
ed.job@ccgir.com