China Shuangji Cement, Ltd. Raises Approximately $600,000 in Private Placement Financings

Company to Use Proceeds for General Corporate Purposes and Growth Initiatives

ZHAOYUAN CITY, China, Nov. 9, 2010 /PRNewswire-Asia/ -- China Shuangji Cement, Ltd. (OTC Bulletin Board: CSGJ) ("China Shuangji" or the "Company"), a leading producer of high-quality Portland cement in Shandong and Hainan Provinces in the People's Republic of China (PRC), today announced today that it had closed on two private placement agreements to sell 1,578,948 shares of its series A convertible preferred stock with attached warrants to purchase an aggregate of 1,578,948 shares of its common stock, for aggregate gross proceeds of $600,000.

The offering was completed with two investors in two private placement transactions in reliance upon exemptions from registration pursuant to, Regulation S, Rule 506 promulgated under Regulation D, and Section 4(2) under the Securities Act of 1933. The offering closed on November 2, 2010. China Shuangji intends to use the net proceeds from the offering for general corporate purposes and to fund its growth initiatives. The company was in discussions with the main investor for many months, and much of this investor's efforts took place when the stock was close to and even below the price of the investment.  

The Series A Preferred Stock pays annual 10% dividends on a quarterly basis, with the initial year of dividends paid in advance on closing date, and shall not have any voting rights except as required by law. The warrants issued in the private placement transactions are exercisable for a period of five years from the date of issuance at an initial exercise price of $0.418.  Both the conversion price of the Series A Preferred Stock and the exercise price of the warrants are subject to customary adjustments provisions for stock splits, stock dividends, and recapitalizations.

"We are very excited about our growth prospects for the 4^th quarter of 2010 and for all of 2011 as we continue to see strong demand for our high-grade Portland cement," said Mr. Wenji Song, Chairman and President of China Shuangji Cement, Ltd. "This round of financing will assist us to further the growth of our business as we plan to increase our production capacity and bring our new state of the art 1,000,000 MT Zhaoyuan City cement plant online very soon after the equipment testing is completed."  China Shuangji cement previously announced receiving a $3.7 million, 10-year loan, paying 10% interest per year and no equity.  

About China Shuangji Cement, Ltd.

China Shuangji Cement, Ltd. (OTC.BB: CSGJ - News), through its affiliates and controlled entities, is a leading producer of high-quality Portland cement in Shandong and Hainan Provinces. Its processed cement products are primarily purchased by contractors for the construction of buildings, roads, and other infrastructure projects. The Company currently produces approximately 1,500,000 tons of Portland cement annually from two facilities in Hainan and one facility in Shandong, and it expects its output will increase by up to 1,000,000 tons to a total of up to 2,500,000 tons once the new Zhaoyuan (Shandong Province) plant and related upgrades are completed. For more information about China Shuangji, please visit its corporate website at http://www.chinashuangjicement.com.

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The information contained herein includes forward-looking statements. These statements relate to future events or to our future anticipated financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. These statements can be identified by the use of forward-looking terminology such as "believe," "expect," "may," "will," "should," "project," "plan," "seek," "intend," or "anticipate" or the negative thereof or comparable terminology. Such statements typically involve risks and uncertainties and may include financial projections or information regarding the progress of new product development and market conditions. Actual results could differ materially from the expectations reflected in such forward-looking statements as a result of a variety of factors, including the risks associated with the effect of changing economic conditions in The People's Republic of China. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We do not intend to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. The safe harbor for forward-looking statements contained in the Securities Litigation Reform Act of 1995 protects companies from liability for their forward-looking statements if they comply with the requirements of the Act. In addition, please refer to the Risk Factor section of our 2009 Form 10-K filed with the Securities and Exchange Commission on April 15, 2010 and detailed in other reports filed with the Securities and Exchange Commission from time to time.