CBI China, C1 Energy, Shanghai Petroleum Exchange Ltd and Galaxy Merchandise Exchange (GEMEX) Signing Ceremony for Future Collaboration

SHANGHAI, December 18 /PRNewswire/ --     CBI China (http://www.cbichina.com), C1 Energy 
(http://www.c1energy.net/), Shanghai Petroleum Exchange Ltd, and Galaxy 
Merchandise Exchange (GEMEX) will hold a press briefing in Beijing to sign 
agreements covering future collaboration between the four companies.

Two collaboration agreements will be signed in the ceremony.
The first will be a merger agreement between CBI China and C1 Energy.

Mr. Zhang Ye, CEO of CBI China said: "Founded in 1999 with
rapid growth in the past eight years, CBI China has become the largest
independent commodity information provider in China. 2007 is a year of most
rapid development for CBI China. After a strategic alliance with the leading
global chemical information provider ICIS (http://www.icis.com) on August 13,
CBI China today merges with C1 Energy, the primary authority on oil and gas
information in China. This merger will enable the combined entity to cover
the production chain of oil, gas and petrochemicals and consolidate the best
global and domestic resources. The goal of CBI China is to become the leading
commodity information provider in China, even in Asia. Today, we have made
the most important step to achieve the goal."

Ms. Shen Ping, General Manager of C1 Energy added: "After
seven years in the business, although C1 Energy, as a well-known brand among
high end oil and gas clients in China, has been recognized as the best
business information source by the global and domestic oil industry, it still
remains behind in terms of scale compared with global leading commodity
information companies. To move forward, become stronger, and to introduce the
Chinese brand into the global market place, we need to collaborate with
stronger players. Today, the merger between the two companies is the
beginning of our efforts of achieving this goal. We not only have similar
values, management concepts and development principles, but we also
complement each others strengths. I believe our collaboration will certainly
offer our clients more professional and wider business information services."

Following the first ceremony, CBI China, Shanghai Petroleum
Exchange Ltd and GEMEX will sign a strategic alliance agreement.

Mr. Ji Zhengdong, Chairman of GEMEX said: "This will be a
whole new collaboration model with Shanghai Petroleum Exchange Ltd's sound
background, GEMEX's trading platform, and CBI China's information services
and broad market reach. We will launch an electronic trading platform that
will bring trading and information under one roof. We believe only a highly
regulated, safe and reliable platform, coupled with the most professional
investment consulting services, are able to satisfy clients' needs. As such,
we developed the GEMEX commodity trading system as a core based on Shanghai
Petroleum (Crude Oil) Exchange platform, combined with professional market
information and personalized investment consultation, to form the whole new
service system. The system, also supported by CBI China, will broadly
increase GEMEX's service quality."

Mr. Ji also reveals the development of a trading platform is
nearly complete, and is expected to be on-line next week.

Mr. Yan Dongsheng, Deputy General Manager of Shanghai
Petroleum Exchange Ltd. said: "As strategic partner of Shanghai Petroleum
(Crude Oil) Exchange, GEMEX and CBI China fully supported the solid and rapid
development of Shanghai Petroleum (Crude Oil) Exchange. GEMEX is a pioneer of
electronic trading services in China, has a young and energetic team, a
nationwide client network, and a swift, highly proficient, unique information
service platform, while CBI China has the largest, the most diversified and
in-depth research team in China currently. Hand-in-hand with such an
outstanding team, we believe Shanghai Petroleum (Crude Oil) Exchange will
soon develop into an oil and petrochemical pricing centre in China, even in
Asia, and will realize the goal of mutual development and prosperity of
Shanghai Petroleum (Crude Oil) Exchange and its strategic partners."

Mr. Zhang of CBI China is fully confident with regards to the
strategic collaboration. He believes electronic trading of spot and futures
contracts is an important trend in the global market, and may show an
explosive growth rate. Terminals with information and trading services will
be the first trading tool of choice.

With the signing of the strategic alliance of CBI China,
Shanghai Petroleum( Crude Oil) Exchange, and GEMEX, the largest domestic
information and trading service alliance has formed, and will bring
significant value for prospective and current clients. Meanwhile, Mr. Zhang
emphasizes that the strategic alliance will not undermine the independence of
CBI China as a third party information provider. CBI China will reflect the
market objectively, to provide clients with the most timely and accurate
information, and will not be involved in any trading activity. The mission of
CBI China is to increase the transparency of market information and reduce
transaction trading costs, help clients to avoid risks and provide
opportunities.

Notes to Editors:

CBI China

CBI CHINA is the largest comprehensive source for information on China's
major commodity markets and industries such as petrochemicals, steel, oil and
gas, non-ferrous metals, pulp and paper. With its experience and vast reach
throughout China, CBI has developed a unique information network and business
model for tracking commodity markets. For more information on CBI China visit

http://www.cbichina.com

For further information, please contact:
    Sophie Cao
    CBI China
    sophiecao@cbichina.com