China Natural Gas Expects to Report Record Earnings for the Second Quarter Ended June 30, 2006; Company Continues to Experience Strong Demand for Natural Gas as an Alternative to Gasoline.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- China Natural Gas, Inc., (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : CHNG CHNG Change , website: www.naturalgaschina.com) the first China-based natural gas public company traded in the U.S. capital market, today announced that the Company expects to report record second quarter financial results for the quarter ended June 30, 2006. The Company expects to report second quarter financial results in the beginning of August. The Company cites strong demand for natural gas as an alternative to gasoline throughout the region as a primary driver of its growing expansion momentum. China Natural Gas recently announced the launch of its seventh Company-owned natural gas filling station in the Xi'An area of China. In addition, the management team will host a series of institutional investor Institutional Investor A non-bank person or organization that trades securities in large enough share quantities or dollar amounts that they qualify for preferential treatment and lower commissions. meetings in the US for two weeks from July 10 through July 21, 2006. Chairman and Chief Executive Officer Qinan Ji and Chief Financial Officer Xiaogang Zhu will provide an overview of the Company's natural gas and vehicular compressed natural gas Compressed Natural Gas (CNG) is a substitute for gasoline (petrol) or diesel fuel. It is considered to be an environmentally "clean" alternative to those fuels. It is made by compressing natural gas (which is mainly composed by methane (CH4 businesses and growth profiles. Institutional investors may contact Debra Chen at The Piacente Group, the Company's U.S. investor relations counsel, at 212-481-2050 for information regarding the Company's meeting schedule. About China Natural Gas, Inc. China Natural Gas, Inc., ("CHNG"), a Delaware company, is the first China based US public natural gas services provider that owns and operates a 120 kilometer long compressed natural gas pipeline in China's Xi'An area, a fast growing Chinese city supported by a population of 7 million and is the "gateway" to the broad Western regions of China. CHNG has three profitable business segments: end user delivery of natural gas services to residential, commercial and industrial customers; wholesale natural gas to retail natural gas filling stations; and retail natural gas at company-owned natural gas filling stations. The city of Xi'An has approximately 20,000 Taxis, 3,000 buses and 2,000 special purpose vehicles that are powered by compressed natural gas. Approximately 8.6% of the company's shares are owned by Bodisen Biotech, Inc. (AMEX AMEX See: American Stock Exchange : BBC BBC in full British Broadcasting Corp. Publicly financed broadcasting system in Britain. A private company at its founding in 1922, it was replaced by a public corporation under royal charter in 1927. ) Safe Harbor Statement This press release may contain forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. These statements are based on the current expectations or beliefs of China Natural Gas, Inc. management and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. |
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