China GrenTech Announces Receipt of Facility Agreement

China GrenTech Corporation Limited

announced today that it has received from Mr. Yingjie Gao, the Company's Chairman and Chief Executive Officer, an executed copy of a facility agreement relating to HK$320,000,000 term loan facility dated March 26, 2012 between Talenthome Management Limited and Guotai Junan Finance Limited, in accordance with the terms of the previously announced amended and restated agreement and plan of merger dated January 20, 2012, among Parent, Xing Sheng Corporation Limited, a company wholly-owned by Parent, and the Company, pursuant to which Merger Sub will merge with and into the Company, with the Company continuing as the surviving company and wholly-owned by Parent. Pursuant to the terms of the Facility Agreement, Guotai Junan promised to make available to Parent a loan in a principal amount of HK$320,000,000 to fund a portion of the offer price of the merger, subject to certain conditions. A copy of the Facility Agreement was filed as an exhibit to the Schedule 13D/A filed by, among others, Mr. Yingjie Gao, Ms. Rong Yu and Ms. Yin Huang with the Securities and Exchange Commission on March 26, 2012.