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Fushi Copperweld Added to Membership of Russell Indexes

2008-07-01 19:19 668


DALIAN, China, July 1 /Xinhua-PRNewswire-FirstCall/ -- Fushi Copperweld, Inc. (Nasdaq: FSIN), the leading global manufacturer of bimetallic wire used in a variety of telecommunication, utility, automotive, power transmission and other electrical applications, today announced that it was added to the U.S. Small-Cap Russell 2000 Index after the equity markets closed on June 27th as Russell Investments reconstituted its comprehensive family of global indexes. Membership in the Russell 2000, which remains in place for one year, is based on membership in the broad-market Russell 3000 index. The stock also was added systematically to the appropriate growth and value indexes.

Li Fu, Chairman and Chief Executive Officer of Fushi Copperweld, stated, “We are delighted to join these prestigious Russell indexes, which was driven by our strong revenue and earnings performance over the course of the past year. This is a great event for our company and we look forward to further expanding our international presence in the bimetallic industry.”

The Russell 2000 also serves as the U.S. component to the Russell Global Index, which Russell launched last year.

Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for both passive and active investment strategies. An industry-leading $4.4 trillion in assets currently are benchmarked to them. These investment tools originated from Russell’s multi-manager investment business in the early 1980s when the company saw the need for a more objective, market-driven set of benchmarks in order to evaluate outside investment managers.

Real-time market analysis on the Russell 2000 and other Russell Indexes is available at http://www.russell.com/Indexes/performance/real_time_market_analysis.asp .

About Russell: Russell Investments aims to improve financial security for people by providing strategic advice, world-class implementation,

state-of-the-art performance benchmarks, and a range of institutional-quality investment products. With more than $213 billion in assets under management, Russell serves individual, institutional and advisor clients in more than 40 countries. Russell provides access to some of the world’s best money managers. It helps investors put this access to work in corporate defined benefit and defined contribution plans, and in the life savings of individual investors. Headquartered in Tacoma, Wash., Russell has principal offices in Amsterdam, Auckland, Hong Kong, Johannesburg, London, Melbourne, New York, Paris, San Francisco, Seoul, Singapore, Sydney, Tokyo and Toronto. For more information on Russell indexes, go to http://www.russell.com .

About Fushi Copperweld

Fushi Copperweld, Inc. through its wholly owned subsidiaries, Fushi International (Dalian) Bimetallic Cable Co, Ltd., and Copperweld Bimetallics, LLC, manufactures bimetallic composite wire products, principally copper-clad aluminum wires ("CCA") and copper-clad steel ("CCS"). CCA and CCS wire offers greater value than solid copper wire in a wide variety of applications such as coaxial cable for cable television (CATV), signal transmission lines for telecommunication networks, distribution lines for electricity, electrical transformers, wire components for electronic instruments and devices, utilities, appliances, automotive, building wire, and other industrial wire. For more information on Fushi Copperweld, visit the Company’s website: http://www.fushicopperweld.com .

Safe Harbor Statement

This press release may include certain statements that are not descriptions of historical facts, but are forward-looking statements. Forward-looking statements can be identified by the use of forward-looking terminology such as “will” “believes”, “expects” or similar expressions. These forward-looking statements may also include statements about our proposed discussions related to our business or growth strategy, which is subject to change. Such information is based upon expectations of our management that were reasonable when made but may prove to be incorrect. All of such assumptions are inherently subject to uncertainties and contingencies beyond our control and upon assumptions with respect to future business decisions, which are subject to change. We do not undertake to update the forward-looking statements contained in this press release. For a description of the risks and uncertainties that may cause actual results to differ from the forward-looking statements contained in this press release, see our most recent Annual Report filed with the Securities and Exchange Commission (SEC) on Form 10-K, and our subsequent SEC filings. Copies of filings made with the SEC are available through the SEC’s electronic data gathering analysis retrieval system (EDGAR) at http://www.sec.gov .

For more information, please contact:

Nathan Anderson

Director IR & Corporate Development

Tel: +1-931-433-0482

Email: ir@fushicopperweld.com

Bill Zima & Ashley Ammon MacFarlane

ICR, Inc.

Tel: +1-203-682-8200

Source: Fushi Copperweld, Inc.
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