Lumena Announces Price Hike of PPS Products at 3% to 8%

HONG KONG, April 6, 2011 /PRNewswire-Asia/ -- China Lumena New Materials Corp. ("Lumena" or the Company, HKEx stock code: 67), a world-leading thenardite producer* and the world's largest PPS resin producer** announced that it raised prices of some of its PPS products today at 3% to 8% in a bid to enhance the profitability of the Company.

Mr. Zhang Daming, CEO and Executive Director of Lumena, said, "As the Chinese government launched the 12th Five-year Plan and the demand for PPS is rising, the Company decided to raise prices of some of its PPS products today in accordance with its strategies to enhance its market position as well as pricing system. The decision is based on raw material prices, labor costs and the change in supply and demand."

Mr. Zhang Zhigang, Chairman and Executive Director of Lumena, concluded, "We believe that the price adjustment can enhance our profitability and strengthen our leading position. We will improve the R&D and promotion of high-end PPS products, and will continue to increase production capacity to meet the strong demand, thus maintaining our growth as well as profitability and generating better returns for investors."

About China Lumena New Materials Corp.

Lumena focuses its operations on the mining, processing and manufacturing of natural thenardite products, and is one of the largest thenardite producers in the world in terms of production capacity as of 31 December 2010*. Equipped with the world's largest single line production facility, the Company produces high quality thenardite products, including powder thenardite, specialty thenardite and medical thenardite. Lumena operates four captive underground glauberite mines in Dahongshan Mining Area, Guangji Mining Area, Muma Mining Area and Yuegou Mining Area in Sichuan Province. Its reserves are higher than the average grade in China, according to JT Boyd***. In January 2011, Lumena successfully acquired the world's largest PPS resin producer, Sino Polymer New Materials Co., Ltd., expanding downstream business to production, development and sales of PPS resin, PPS compounds and PPS fibre.

*   In terms of production capacity as of December 31, 2010, according to Behre Dolbear, an independent market research consultant

**  In terms of production capacity as of December 31, 2009, according to SRI Consulting, an independent research service firm

*** John T. Boyd Company, a mining consultant firm

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