Press Release Source: Sinoenergy Corporation http://biz.yahoo.com/prnews/081010/cnf025.html? .v=17

Sinoenergy Corporation Opens Two New Retail Stations and Affirms Guidance
Friday October 10, 8:00 am ET


BEIJING, Oct. 10 /Xinhua-PRNewswire-FirstCall/ -- Sinoenergy Corporation (Nasdaq: SNEN - News; "Sinoenergy" or the "Company", a manufacturer of compressed natural gas (CNG) vehicle and gas station equipment and a designer, developer and operator of retail CNG filling stations in the People's Republic of China, today announced the opening of two new retail CNG filling stations that started selling CNG as of October 1, 2008.
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The two new CNG filling stations are located in Xuanhu Lu, the City of Xuancheng, Anhui Province. Each of these standard CNG filling stations has four filling outlets, and is open 24 hours a day, seven days a week. Targeted sales for each CNG filling station, set by the Company and used in its business planning, are 10,000 cubic meters per day (equal to 353,147 cu.ft.). The designed maximum physical capacity of a standard CNG filling station is about 18,000 cubic meters per day (equal to 635,665 cu.ft.). Both new retail CNG filling stations are fully licensed by local governments to operate and sell CNG for use in CNG powered vehicles.

The Company has now opened and is operating a total of sixteen retail CNG filling stations in Central and Eastern China.

Separately, the Company affirmed its previously announced guidance for fiscal years 2008 and 2009. For it fiscal year 2008 ending September 30, 2008, Sinoenergy expects its diluted earning per share to be from $0.60 to $0.65. For its fiscal year 2009 ending September 30, 2009, Sinoenergy expects its diluted earning per share to be from $0.90 to $1.00. Using the high end of these estimates, the compound annual growth rate (CAGR) of its diluted earnings per share for fiscal years 2007 to 2009 is about 79.6%.

"We are pleased to have opened and begun operating two new stations in Xuancheng," said Mr. Bo Huang, CEO of Sinoenergy Corporation. "By opening two new retail CNG stations in Xuancheng, we achieved our goal of having three retail CNG filling stations in Xuancheng by the end of calendar year 2008. For the rest of calendar year 2008, we will focus on opening new retail CNG filling stations in Wuhan, the largest city in Central China."