Special Committee of Qiao Xing Mobile Communication Co. is Not Expressing Any Opinion Regarding the Takeover Proposal

Special Committee of the board of directors of Qiao Xing Mobile Communication Co., Ltd.

today announced that it is not making any recommendation to the board of directors of QXM and will remain neutral with respect to the proposal by Qiao Xing Universal Resources, Inc. to acquire all of the outstanding ordinary shares of QXM, other than those shares held by XING by way of a scheme of arrangement under Subsection 179A of the British Virgin Islands Business Companies Act, 2004 in a "going private" transaction. Pursuant to the Scheme, XING is offering $0.80 in cash plus 1.9 shares of XING common stock per QXM ordinary share