China North East Petroleum Appoints Three Independent Members to its Board of Directors

HARBIN, China and NEW YORK, May 29 /Xinhua-PRNewswire-FirstCall/ -- China North East Petroleum Holdings Limited (the ''Company'') (OTC: CNEH.PK), an oil producing company in Northern China, today announced that the Board of Directors has announced the appointment of Robert C. Bruce, Edward M. Rule and Li Jing Fu as Directors of the Company, effective immediately.

Mr. Bruce is President of Oakmont Advisory Group, LLC, a financial management consulting firm located in Portland, Maine. Prior to founding Oakmont Advisory Group, from 1999 through 2004 he served as Chief Operating Officer, Treasurer and Director for Enterix Inc., a privately-held, venture-funded medical device and laboratory services company that was purchased by Quest Diagnostics. He also previously served as Chief Financial Officer for Advantage Business Services (1997 to 1998), a privately-held national payroll processing and tax filing business that was subsequently acquired by PayChex. Mr. Bruce is a member of the Board of Directors of Immucell Corp., a NASDAQ listed manufacturer of animal health products. Mr. Bruce received his MBA from the Yale School of Management, and a Bachelor of Arts degree in East Asian Studies from Princeton University. Mr. Bruce speaks and reads Mandarin Chinese.

Mr. Rule is Chairman of TDR Capital International Limited, a Hong Kong based financial services house. Most of his career has been spent in China, initially as a diplomat and subsequently as an investment banker with the Standard Chartered Group and private equity professional with the $800 million Asian Infrastructure Fund. He is a graduate in Chinese language of the University of Melbourne and the Australian National University. He speaks Mandarin Chinese and Cantonese. He has been director of several listed companies in Hong Kong and Australia.

Mr. Li is the Chairman and top representative of Joint Management Committee of Qian Guo County Longhai Petroleum & Natural Gas Co., Ltd. and was appointed to that position by Petro China's Jilin branch in 2005. Mr. Li has been in the petroleum industry since 1970. In his extensive career he has served as Vice Monitor for Jiang Han Oil Field's comprehensive logging team, Secretary of Command Department of Petroleum Hui Zhan in Jilin Province, Vice President of Jilin Oilfield Exploration and Development Research Institute. From 1995 to 2002, Mr. Li was appointed by PetroChina's Jilin branch to serve as General Manger of management and production operation of oil exploitation of Jilin Jiyuan Petroleum & Natural Gas Development Co. Ltd. From 2002 to 2005, Mr. Li, served as Project Manager of Song Yua City Qian Yuan Oil & Gas Development Co., Ltd. also by appointment by PetroChina's Jilin branch. Mr. Li received his bachelor's degree from Chang Chun Geology Institute in Jilin, China.

Mr. Wang Hong Jun, Chairman and President commented, ''We are honored that Messrs. Bruce, Rule and Li have agreed to join our Board of Directors. These individuals together add a high level of experience to our Company in the areas of finance, operations and management. They also have a firm understanding of China and its corporate culture. We welcome their contributions and insights on our Board as we continue our efforts to grow our position in China's oil production industry. Further, the addition of these three independent Board members brings CNEH closer to meeting the requirements of listing on a major U.S. exchange, which is a goal for our company over the course of the next nine months. We believe all three individuals will be very valuable assets to our Company as Board members and we look forward to working closely with them in the future.''

ABOUT CHINA NORTH EAST PETROLEUM

China North East Petroleum Holdings Ltd. is engaged in the production of crude oil in Northern China. The Company has a guaranteed arrangement with the Jilin Refinery of PetroChina to sell its produced crude oil for use in the China marketplace. The Company currently operates 165 producing wells within four oilfields in Northern China and has plans for additional well drilling projects.

SOURCE China North East Petroleum Holdings Ltd.