Gushan Environmental Energy Limited to Assess Impact of New Notice

Gushan Environmental Energy Limited

today announced that the Company is currently in the process of assessing the effect of a recently issued notice on consumption tax issued by the Ministry of Finance of the People's Republic of China and the State Administration of Taxation of the People's Republic of China. The Notice Regarding the Exemption from Consumption Tax on Pure Biodiesel Made from Waste Animal Fats or Vegetable Oils issued on December 24, 2010 becomes effective immediately and, clarifies that pure biodiesel made from waste animal fats or vegetable oils is exempted from consumption tax in China, and that such exemption will be implemented with retroactive effect to January 1, 2009.