Fushi Copperweld Appoints KPMG as New Auditor

Transition to major accounting firm reflects company's developing global presence

BEIJING, Jan. 27, 2011 /PRNewswire-Asia-FirstCall/ -- Fushi Copperweld, Inc. ("Fushi" or "the Company") (Nasdaq: FSIN), the leading global manufacturer and innovator of copper-clad bimetallic wire used in a variety of telecommunication, utility, transportation and other electrical applications, today announced that it has appointed KPMG ("KPMG") as the Company's registered independent public accounting firm commencing with audit work for the fiscal year ending December 31, 2010.  KPMG replaces Fushi's previous independent public accounting firm, Frazer Frost, LLP ("Frazer").  The change in auditor was approved by the Company's Audit Committee.

The change in auditors was not the result of disagreements with Frazer on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, and Frazer's report on the Company's financial statements for the fiscal years ended December 31, 2008 and 2009 contained no adverse opinion or disclaimer of opinion, nor was it qualified or modified as to uncertainty, audit scope or accounting principles.

KPMG will begin its examination of the Company for purposes of conducting the Company's 2010 audit as soon as possible.  The Company does not currently expect the change in auditor to result in a delay in the filing of its Annual Report on Form 10-K for the fiscal year ended December 31, 2010 with the Securities and Exchange Commission.

Joe Longever, co-Chief Executive Officer of Fushi Copperweld, commented, "As Fushi Copperweld continues to execute on its strategy and expand globally, our audit needs continue to evolve as well.  Having conducted a careful and thorough review process, the Audit Committee decided that KPMG has the right mix of geographic presence and service offerings to meet our needs now and in the future."

Mr. Longever continued, "We thank Frazer for their hard work and support, and look forward to working with them to complete a seamless transition."

About Fushi Copperweld

Fushi Copperweld Inc., through its wholly owned subsidiaries, Fushi International (Dalian) Bimetallic Cable Co. Ltd., and Copperweld Bimetallics LLC, is the leading manufacturer and innovator of copper-clad bimetallic engineered conductor products for electrical, telecommunications, transportation, utilities and industrial applications.  With extensive design and production capabilities, and a long-standing dedication to customer service, Fushi Copperweld is the preferred choice for bimetallic products worldwide.

For more information, please visit the Fushi Copperweld website, at 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 www.sec.gov.