China Ritar Announces Application for NASDAQ Capital Market Listing

SHENZHEN, China, Sept. 23 /Xinhua-PRNewswire-FirstCall/ -- China Ritar Power Corp. (OTC Bulletin Board: CRTP), (the "Company" or "China Ritar"), a leading Chinese manufacturer of lead-acid batteries, today announced that it had filed an application for listing of its common stock on the NASDAQ Capital Market.

“Our application to list our common stock on the NASDAQ Capital Market is an important step for us to build an international lead-acid battery company. We continue to expand our business in both domestic and international markets through increasing our production capacity at our new Hengyang Industrial Park,” commented Mr. Jiada Hu, China Ritar’s Chairman and CEO. “If our application is approved, we believe that China Ritar will gain access to a broader institutional investment community, strengthen its financing flexibility, and provide greater liquidity for its shareholders.”

Although the Company believes that it satisfies all of the listing criteria, its application for listing on the NASDAQ Capital Market is subject to review by NASDAQ. The Company is working diligently with NASDAQ to complete the application process. The Company’s common stock will continue to trade on the OTC Bulletin Board under its current symbol, CRTP, until NASDAQ approves its application.

About China Ritar

China Ritar designs, develops, manufactures and markets environmentally friendly lead-acid batteries with a wide range of capacities and applications, including telecommunications, Uninterrupted Power Source (UPS) devices, Light Electrical Vehicles (LEV), and alternative energy production (solar and wind power). China Ritar sells, markets and services six series and 197 models of Ritar-branded, cadmium-free valve-regulated lead-acid (VRLA) batteries. Products are sold worldwide with sales in 56 countries including China, India, and numerous markets in Europe and the Americas. Additional information can be found at the company’s website http://www.ritarpower.com .

Safe Harbor Statement

This press release contains certain statements that may include "forward looking statements." All statements other than statements of historical fact included herein are "forward-looking statements." These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company’s periodic reports that are filed with the Securities and Exchange Commission and available on its website ( http://www.sec.gov ). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.

For more information, please contact:

Elite IR

John Marco, Managing Partner

Tel: +1-310-819-2948

Email: John.marco@elite-ir.com

Elite IR

Leslie J. Richardson, Managing Partner

Tel: +852-3183-0283

Email: Leslie.richardson@elite-ir.com